John Hofmeister, President of Shell Oil:
I can guarantee - to the American people - because of the inaction of the United States Congress: ever increasing prices - unless the demand comes down. And the $5 [per gallon] will look like a very low price, in the years to come, if we are prohibited from finding new reserves, new opportunities to increase supplies.Maxine Waters, D-CA, in reply:
And guess what this liberal will be all about? This liberal will be all about socializing, uh, uh, would be about ... basically ... taking over, and the government running all of your [oil] companies.Video:
Maxine Waters threatens to nationalize America's oil industry.
Powerline takes a look:
Oil Executives Try to Educate Senate Democrats, But Democrats Appear Hopeless.