Jamie Court Profits Quotations

Representative Barton's legislation rolls out the red carpet for oil company profiteers who have intentionally reduced refining capacity to pump up profits to world record levels, ... Since deregulation in 1982, oil consumption has increased 33 percent, but oil companies have reduced refining capacity by about 10 percent. The answer is not more carrots for the industry, like gutting environmental laws and immunizing companies for the harm they cause, but sticks such as forcing companies to invest in beefing up refining capacity when it is needed. We need supply side regulation, not more supply side economics.

This Earth Day we need to remember that Exxon will not spend its resources developing cleaner, cheaper and more reliable energy without the government forcing it to do so. Californians at least will have a chance to vote on a November ballot measure that takes back oil companies' windfall profits for a state fund that will provide practical incentives to make alternative fuel vehicles more available and affordable. We cannot rely on oil companies to create cheaper and cleaner fuels. American oil companies like Exxon will never want us to use less oil.

intentionally reduced refining capacity to pump up profits to world-record levels.