Big Oil's Profit and Plunder

Big Oil's Profit and Plunder

By Ralph Nader

While many impoverished American families are shivering in the winter cold for lack of money to pay the oil baron their exorbitant price for home heating oil, ex-oil man, George W. Bush sleeps in a warm White House and relishes his defeat of the Congressional attempt to get rid of $15 billion in unconscionable tax breaks given those same profit-glutted oil companies like ExxonMobil when crude oil was half the price it is today.

This is the same George W. Bush who, calling himself a "compassionate conservative" in October 2000 made this promise to the American people: "First and foremost, we've got to make sure we fully fund the Low Income Home Energy Assistance Program (LIHEAP), which is a way to help low-income folks, particularly here in the East, pay for their high, high fuel bills."

So what did this serial promise-breaker propose this year? Mr. Bush wanted to cut the fuel aid program by $379 million! This entire assistance program is funded at about half of the $5 billion that state governors and lawmakers believe is essential to meet the needs of the six million people eligible to apply for such help this year.

Everyone in Washington knows that the big, coddled, subsidized oil industry has many politicians over a barrel. When it comes to oily Bush and Cheney though, the global melting industry has these two indentured servants marinated in oil.

Look at what ending regulation of natural gas prices has produced: prices up 50 percent since last year. Home heating oil prices are up 30 percent. Bush's own Energy Department estimates the rise of heating oil costs will impose an average increase of $375 for customers this winter. No way that supply and demand explains this gouge.

If a home dweller is too poor to order more than 100 gallons at a time,
they get smacked with an extra surcharge of 60 to 70 cents per gallon
for delivery.