S*1381 Resolution, By Jackson, Elliott, Anderson, Pinckney, Setzler, Bryant, 
Fair, Peeler, Grooms, Scott, Sheheen, Malloy, Lourie, Hutto, Leventis, O'Dell, 
Williams, Land, Leatherman, McGill, Martin, Hayes and Thomas
 A SENATE RESOLUTION TO URGE GEORGE W. BUSH, PRESIDENT OF THE UNITED STATES AND
 THE CONGRESS TO TAKE SWIFT ACTION TO INVESTIGATE THE EXCESSIVE PROFITS OF OIL
 COMPANIES AND HOW THIS WILL IMPACT THESE COMPANIES.

   04/27/06  Senate Introduced and adopted SJ-22

TO URGE GEORGE W. BUSH, PRESIDENT OF THE UNITED STATES AND THE CONGRESS TO TAKE SWIFT ACTION TO INVESTIGATE THE EXCESSIVE PROFITS OF OIL COMPANIES AND HOW THIS WILL IMPACT THESE COMPANIES.

Whereas, the American public has seen unprecedented increases in gasoline prices in the last few months; and

Whereas, there have been many citizens subjected to price gouging on gasoline purchases; and

Whereas, the United States Energy Department has set up a hotline to take calls about suspected price gouging--the agency has received 26,001 calls since August 28, 2005; and

Whereas, the world's five largest publicly traded oil companies made a profit of $32.7 billion during the third quarter of 2005; and

Whereas, the estimated first quarter of 2006 net income estimate on GAAP basis for ExxonMobil, Royal Dutch Shell, BP, Conoco, and Chevron is $27.9 billion; and

Whereas, the top five oil giants Exxon, Royal Dutch Shell PLC, BP PLC, Chevron Corporation, and French-based Total SA combined to make more money than the entire gross domestic products of oil-rich nations such as Libya, Syria, Oman, and Qatar; and

Whereas, in light of these gasoline increases, every citizen in this country is forced into making tough choices over whether to fill up their cars or severely cut back their budgets. It is imperative that President Bush and Congress take dramatic and swift steps to stem the tide of ever increasing gasoline prices. Now, therefore,

Be it resolved by the Senate:

That members of the South Carolina Senate urge George W. Bush, President of the United States, and the Congress to take swift action to investigate the excessive profits of oil companies and how this will impact these companies.

Be it further resolved that a copy of this resolution be forwarded to The Honorable George W. Bush, President of the United States of America, and to each member of the United States Senate, the United States House of Representatives, and to each member of the South Carolina Congressional Delegation.