> Congress hauled the big oil company CEOs in just a few months ago and berated them for daring to make a profit.
And what did it achieve? Gas is still at obscenely priced levels at the same time that businesses are forcing people back into the office.
Hence my view that it's theater more than it is a viable measure in which congress has the ability to force executives to be held accountable for their actions that compromise the national security of a nation, at a time that it is reeling from COVID and fighting a proxy war with Russia! For God's sake they were making baseball players show up to discuss steroid use, if this isn't the definition of banality then I don't know what is.
This isn't about merely about making a profit, the US exports just as much oil/gas as it imports after all, it's about how favorable ties with congress/senate can be seen as things that allowed for things to go back to business as usual after a pathetic display in which no one is held accountable for what will be a reason why the US is/will go into a recession. The same thing happens in bank hearings: I fully expect their to be a similar hearing as Russia defaults on it's debt repayment after JPM and GS bought tons of Russian debt and will need a bailout, but promise to do a better job in the future.
