To enhance intelligence oversight authority.

January 5, 2007

Mr. OBEY submitted the following resolution; which was referred to the Committee on Rules

To enhance intelligence oversight authority.

Resolved, That in clause 4(a) of rule X of the Rules of the House of Representatives, add the following new paragraph at the end:

`(5)(A) There is established a Select Intelligence Oversight Panel of the Committee on Appropriations (hereinafter in this paragraph referred to as the `select panel'). The select panel shall be composed of not more than 13 Members, Delegates, or the Resident Commissioner appointed by the Speaker, of whom not more than eight may be from the same political party. The select panel shall include the chairman and ranking minority member of the Committee on Appropriations, the chairman and ranking minority member of its Subcommittee on Defense, six additional members of the Committee on Appropriations, and three members of the Permanent Select Committee on Intelligence.

`(B) The Speaker shall designate one member of the select panel as its chairman and one member as its ranking minority member.

`(C) Each member on the select panel shall be treated as though a member of the Committee on Appropriations for purposes of the select panel.

`(D) The select panel shall review and study on a continuing basis budget requests for and execution of intelligence activities; make recommendations to relevant subcommittees of the Committee on Appropriations; and, on an annual basis, prepare a report to the Defense Subcommittee of the Committee on Appropriations containing budgetary and oversight observations and recommendations for use by such subcommittee in preparation of the classified annex to the bill making appropriations for the Department of Defense.

`(E) Rule XI shall apply to the select panel in the same manner as a subcommittee (except for clause 2(m)(1)(B) of that rule).

`(F) A subpoena of the Committee on Appropriations or its Subcommittee on Defense may specify terms of return to the select panel.'.

Press Release of Senator Reid
REID: THE REPUBLICAN CONGRESS PUTS BIG OIL BEFORE WORKING FAMILIES

Thursday, July 27, 2006

Washington, DC—Once again, Big Oil is reporting stunning profits as Americans pay skyrocketing prices for gas. With ExxonMobile today reporting $10 billion in second quarter profits, the second largest quarterly profit ever recorded by a publicly traded U.S. company and only the latest of the sky-high profits reported by Big Oil this week, Senate Democratic Leader Harry Reid issued the following statement. A breakdown of current oil company profits is attached below.

“Americans are paying near-record gas prices, oil companies are reaping billions in profits, but the response from the Oil Men in the White House and the Republicans in Congress has been billions for Big Oil and a backhand to the American people. It would be shocking in normal times, but it is standard procedure for Republicans in Washington.

“It is time for a change from the Bush/Cheney energy plan that put Big Oil's interests ahead of working families. For five years, this Republican Congress has failed to adopt a forward-thinking plan to deliver affordable and clean energy, and it is time for a new direction.  Democrats have offered the Clean EDGE Act. It is the comprehensive legislation needed to address the current energy crisis, and the right way to help the American people.”

###

Company
 2004
 2005
 % Change 04-05
 2006
 % Change 05-06
 % Change 04-06
 
ExxonMobil
 $5.79
 $7.64
 32
 $10.36
 35.6
 79
 
Shell
 $3.897
 $5.236
 34
 $7.32
 40
 88
 
BP
 $3.908
 $5.59
 43
 $7.27
 30
 86
 
ChevronTexaco
 $4.125
 $3.684
 -10.7
 
 
 
 
ConocoPhillips
 $2.075
 $3.138
 51
 $5.186
 65
 150
 
Total
 $19.795
 $25.289
 27.8
 
 
 
 

I suppose that Mr. Reid's table is attempting to show per share earnings.  He never explains his figures.  My guess is that he doesn't understand equities or commodities markets.
How can we expect responsible leadership from people that won't even attempt to understand free market capitalism?

“The people are responsible for the character of their Congress. If that body be ignorant, reckless, and corrupt, it is because the people tolerate ignorance, recklessness, and corruption. If it be intelligent, brave, and pure, it is because the people demand these high qualities... If the next centennial does not find us a great nation... it will be because those who represent the enterprise, the culture, and the morality of the nation do not aid in controlling the political forces.” —James A. Garfield

  H RES 619      RECORDED VOTE    
      QUESTION:  On Agreeing to the Resolution
      BILL TITLE: Providing for consideration of the resolution (H. Res. 612) expressing the commitment of the House of Representatives to achieving victory in Iraq

Senate Bill 3711