Shell CEO, John Hofmeister, defends Shell’s decision to close a Bakerfield Field refinery, and ultimately, defend against Boxer’s accusation that Shell strategically tried to control oil prices.

Posted by Staff on November 9, 2005 |

Hofmeister explains the circumstances around the ultimate sale of the refinery, but Boxer recalls a different reaction from Shell executives, and accuses Shell of attempting to "short the market" by closing profitable refineries. (1:31)

 
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November 9, 2005
« Senator Boxer’s chart detailing the earning of oil executives earns her the wrath of Senator Stevens.
Sen. Ron Wyden (D-OR) quotes President Bush stating that oil companies do not need incentives from the government and polls the oil executives on their opinion of this statement. »
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