On the recordApril 25, 2006
this morning the President of the United States held a press conference and announced the following: Prices at the pumps reflect our addiction to oil. So it turns out it is our fault. It turns out it is the fault of the consumers. It is the fault of families and businesses and farmers that the prices have gone so high. I don't think so. I think the prices at the pump reflect the oil companies' addiction to greed. Let me give you a case to consider. Lee Raymond, CEO of Exxon, recently retired. Did he get a gold watch for his service to Exxon? No. Mr. Raymond was given a severance package of $400 million. And the prices at the pumps reflect the consumers' shortcoming? ExxonMobil recorded the highest corporate profits in the history of the United States of America. Money went straight from the credit cards of American families into the board rooms of ExxonMobil. They realized billions of dollars in profit, and they turned around and gave Mr. Raymond, as a farewell gift for his fine tutelage over their company, $400 million as a going-away gift. And the President says the price at the pumps reflects the consumers' addiction to oil? What choice do consumers have? You go shop around in your hometown, as I did in Springfield and Chicago. There is some variation from pump to pump, from gas station to gas station. By and large, consumers have nowhere to turn.…
Source
govinfo.gov




