$133 Oil Industry CEO and Presidents before Congress

In the 1970s the Oil Companies were before Congress due to price hikes and shortage. Yet it took almost a full decade before we found out that the oil industry's' shortage was just on paper. Also we learned that their price hike was caused with selling of companies, just on paper, to different family members causing a price hike at the pump. Yep, those were the good old days. And when it looked like the oil companies at that time were going to get into trouble, along came president Reagan who decided that the Oil Companies Executives should not be penalized or jailed or charged. What a let down that was.

Now fast forward to 2008. We now have the Oil CEO and Presidents of the Oil Companies before Congress on May 21, 2008. "We're on the precipice here and about to fall into a recession," Dick Durbin said. "Is there anybody here who has any concerns about what you're doing to this country?"

"The American economy is buckling under the weight of gas prices. And while consumers and businesses suffer from these price increases, the oil industry seems only to get richer and richer." Senator Herb added. Oil prices climbed to $133 a barrel today which ricochet great concerns on what was happening to the American Economy.

On April 1, 2008, April Fools Day, there was a hearing on the oil prices slightly rising over $100 a barrel, yet nothing was done to stop the up serge of oil costs at that time and now the price per barrel is up 1/3% at $133.00. Will the prices start to fall because of the hearing? Will the prices freeze and stop rising? Or will we be reading reports in the next month or two of how the barrel price rose another 1/3% bringing the cost closer to $166.00 a barrel? Hmm, well the Bush, Chaney and their close friends and relatives can line their pockets with all the money their stocks in the oil industry is making.

Oil Price Hike With Lower Supply

In reading 'Oil Crosses $129.00 For The First Time,...' on the ABC news, the associated press writers, Hogue and Jahn report on the oil price surge and the excuses offered by the OPEC representatives.

It appears that I was right in my belief that the price of oil would hit over $125 dollars per barrel just before this summer. Of course the rest of the country is complaining of the national average of $3.79 per gallon, yet they have no clue just how lucky they are. Here in Southern California we have been stuck at over $4.00 per gallon for weeks now.

Some of those in the Oil industry have blamed the higher prices on:
1) Stronger demand for diesel fuel in Asia.
2) The weakening of the American dollar against the Euro, making oil prices cheaper for foreign investors.
3) Recent earthquake has the regions in China relying heavily on generators for power.
4) China is also ramping up diesel fuel in preparation of the Olympics driving up the costs.

But Energy Minister Khelil stated that OPEC wont increase it's output this summer driving season, thus less supply during the heaviest use of gasoline consumption. I guess we can just expect higher prices at the oil pump. Heating oil prices and natural gas costs have increased and may also rise just before summers' end in time for the cooler months.

Foreclosures Equals Depression, Migraines, Suicides

With more and more home owners on the verge of loosing their homes, while more homes are added to the foreclosure lists every month a new survey is rearing its' ugly head. An increase in Doctor reports of patients physical, mental, and emotional health being affected by the foreclosures, or the realization that they are near foreclosure has continued to rise.

Studies have been done in the past from 1968 through 2002 that show the effects of recession with the threat of one loosing their homes and their emotional, mental health on the decline with suicide on the climb. Of course the reports of the Republicans referring to the foreclosures as the fault of the homeowners just adds to the anxiety with depression, migraine headaches, insomnia, and even suicides. But there is a victim that the Republicans seem to miss. A victim that has always been ignored by the Republicans and the SUPER RICH.

The victims that are most affected by the loss of their homes, and who suffer very greatly are the children. If I hear one more person say the words that children are resilient, I will slap that person so hard that his/her eyes will pop out. Children are showing the effects of the pending foreclosures their parents are experiencing. But it is even worse when the foreclosures actually happen.

For decades the Republican party have ran their campaigns on the statement that they and only they are the 'Family Value Party'.

So I ask:
What is so 'Family Value' about putting parents and children out in the street? What is so 'Family Value' about financial institutions and Banks having the mortgage contract papers state 30 year and APR in the same paragraph when the homeowner originally asked for and insisted on 30 year fixed? What is so 'Family Value' about the company person who is with you at the signing of the contract papers, calls the company to verify when you question about the 30 year adjustable when you originally insisted on the 30 year fixed? What is so 'Family Value' about the person reassuring you that it is just worded differently, but that it is the same as a 30 year fixed according to the individual he spoke with? What is so 'Family Value' about sending the first billing with the adjustable rate two year change time frame after you were told that it was a 30 year? What is so 'Family Value' about the financial institution stating that they cannot help you and that you need to talk to the broker who got you that deal because he/she is not an employee of theirs? What is so 'Family Value' about the financial institution then telling you that there is nothing they can do for you, not even try to redo the paperwork to put it into a 30 year fixed which is what you, the customer, wanted in the first place? What is so 'Family Value' about telling you that there is nothing they can do for you, especially since they are a financial institution that claims to be a mortgagor and do advertise 30 and 40 year fixed in their ads and on their website? What is so 'Family Value' about, after bringing it to the mortgage company attention that you wanted the 30 year fixed instead, the financial institution suddenly sells your mortgage to another financial company whose billing and website state that they are a mortgage financial institution, however every time you call their customer service the company calls themselves a collections company? What is so 'Family Value' that with out an appraiser looking at your home, the mortgage company states that the house down the street sold in a quick sell lowering your house value 50 thousand below what your mortgage is, which is a hundred fifty thousand below what your home originally appraised at? What is so 'Family Value' about mortgage companies dictating the value of the house to the appraiser, instead of the other-way-around? And after going through all that, what is so 'Family Value' about the Republicans and Super Rich making the statements that you got yourself into this fix in the first place?

I wonder, do the Republicans and the Super Rich really believe that with their greed and indifference to the middle class of American Families along with the stealing and sending American jobs overseas that they will ever enter into the gates of heaven? After all it is the Republicans and the Super Rich who have placed themselves on that religious pedestal as being the most 'Righteous' and 'Religious Right Winged' and 'Family Value Party'.

Stimulating Whose Economy?

If those writing history pay attention to the time line, then the history of our current economic tax rebate will prove that shortly after Bush announced his Stimulating Economy Rebate 'it was the oil companies' who quickly schemed to raise their prices at the pumps forcing the American Citizen to spend their rebate money to stimulate Foreign Oil Countries instead.

Contrary to what the Bush administration claims, the evidence is there that the members of the Bush administration who are still on Halliburtons' payroll in one way or another will be benefiting from the foreign oil companies countries boost in their economy from the average American two car family whose tax rebate of over a quarter percent will be boosting the foreign oil. In a worse position are those small businesses that rely on many driving hours during most of their working hours. Even many of the home run businesses that exists now-a-days have the business owners and or partners doing many hours of driving/delivering of products or services. Stuck are the small businesses who are forced to raise their prices more, causing many American consumers to cut back from spending even further, thus putting many of the small companies out of business.

Did our current Bush Administration think this out? Or did they count on it?

Governmental Politics Getting In The Way

Devastation has hit a small country in a romote part of the world early this week. The country known as Myanmar has been hit by a cyclone storm of huricane winds with almost 62 thousand killed or missing. The stench of rotting corps fill the air with many bodies not being burried as of yet. Efforts of a massive food aid rescue attempt, which was launched by many countries around the world in the United Nations was crippled by the military government of Myanmar as they confiscadated the food, halting any further aid from reaching their country.

The military government of Myanmar has refused foreign aid workers into their country to help with the overwhelming million survivors who are waiting for food, medicine and clean drinking water. Completely submerged in the water of the Irawwady Delta are whole villages. Aid groups are warning that the country is on the verge of a Medical disaster of greater propotions than originally thought.

Back To The Old Slashing Of Interest Rate

Are the Federal Reserve and the Chairman Ben Bernanke creating a muddier mess of the economy every time they try to stop a recession with their constant lowering of the Key Interest Rate?

So far since September 2007, the Federal Reserve have cut the interest rate up to six or seven or even eight times already, promising that each time was the last to secure that we not go into a recession. Yet each time they slash the rate, it has prove not to be the last since the inevitable is sure to happen. Or has it happened already and they are just not admitting to it, while they lie to the American people?

I don't know about you, but in January it was reported that the key interest rate was lowered five times since September 2007. That means that in February and March and again in April when Bernanke and the Fed cut the rates those three times the number increased to eight times since September 2007.

Where is the outcry? Why hasn't anyone stood up and said, "YES WE ARE IN A RECESSION!" Do they really think that the USA citizen is that naive and gullible? Or are we?

One thing is certain, someone is laughing all-the-way-to-the-bank. And that someone is NOT the USA citizen.

Price Per Barrel Almost $120.00

I never thought the oil prices per barrel would jump so high, so quickly. But it did. The US Light Crude is at $119.26, while the London Brent Crude jumped up to $117.07. Of course the news media keeps telling us that our price per gallon is not as high as Europe. Yet they keep basing the cost by percentage of the whole country, which is not the accurate price per gallon at all.

Here in different parts of California the prices vary from county to county, from northern to southern, from coastal to desert. With most areas already hitting the $4.00 per gallons while some are still at the $3.75 per gallon, it is unthinkable that along Hi-way 1 in a small town community out in the middle of no-where the price per gallon for regular oil is at $5.40. But do not expect to see a sign letting you know what the price per gallon is. You do not know until after you pumped the oil into your car. The owner of the station is also the owner of the town and claims he is loosing money, because his towns' electricity is powered by the oil fuel. So instead of doing the right energy saving thing and switching the power of the towns' electricity to either wind or solar, the owner prefers to stick it to the stranded motorists who are driving along Hi-way 1.

Price gouging is a factor in this instance, and a violation. Now why would I call it price gouging, because the motorists do not see any price signs on what the price per gallon is and they do not know until after they pumped the oil into their cars.