Congress, shaking off it's byzantine sloth, has roused it's indignation and is now presuming to lecture British Petroleum (BP) on how to run it's business. Congress is shocked by BP business practices. Oh! They scrimped on maintenance! Well, they have an enormous infrastructure and performed standard tests. Oh! They made a lot of money last year! Well, ain't that the point in a capital economy? Un-be-liev-able!
These Congressmen, many of whom like to pose as businessmen, try to make "profits" sound obscene. Fact is, BP's profits are average for oil companies and returns on investment in the oil sector are similar to returns in other areas. "Big oil's" profit margins are not unusual. There is no evidence of price gouging. They make a lot of money simply because they sell a lot of oil.
The real reason for Congress's indignation is the fear that oil spills in the arctic threaten their political cover for selling out the Arctic National "Wildlife Refuge" (ANWR). Big oil will pay handsomely for this opportunity. Oops, did I say "pay"? I mean "support" the Congressman (in their pocket).
If YOU don't like what BP has done, your choice is easy: don't buy your gas from BP. (Maybe you prefer to get your oil from Exxon, still trying to clean up Prince William Sound?) We don't need to involve Congress. I wish we had a similarly direct action to register frustration with our government's stupid, counter-productive war mongering masquerading as national defense.
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