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Oil, Petrol Prices, George Bush - and Megga Bucks

George Bush has announced an investigation into why petrol [gas in the USA] is costing the consumer so much. He wants to establish whether motorists are being been gouged.

Arianna Huffington in her daily Huffington Report [always well-worth reading] reports this:

"It’s not a coincidence that the oil and gas industries donated over $25 million to Congressional campaigns in 2004 (with 80% of that money going into Republican coffers), and another $7.2 million so far in the 2006 cycle (with 84% going to the GOP). They also doled out over $4.5 million to Bush’s 2000 and 2004 presidential runs.

And what did they get for their largess? According to Public Citizen, the top five oil companies have pocketed over a quarter of trillion (that’s with a “T”) in profits since Bush took office. Talk about a return on investment. That’s a gusher!"

Bear in mind that the above figures are US dollars.

Read the full article here. It certainly looks like that Bush inquiry is really only directed to political considerations with the mid-term November elections looming.

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