- Making News: Senate Panel Grills Big Oil on Windfall Profits
The high price of oil and record industry profits were the subject today as the Senate Commerce Committee grilled executives of the oil industry. Committee Chair Pete Domenici (R-NM) asked if the industry was rigging the price of oil. Exxon Mobil CEO Lee Raymond defined oil as being "in line with the average of all US industry." Elizabeth Souder, who covers the industry for the Dallas Morning News, has been following the hearings.
- Reporter's Notebook: Chalabi's Back, and He's the Toast of the Town
He was blamed for misleading the Bush Administration and Congress about Saddam Hussein's alleged weapons of mass destruction, and the FBI is still investigating claims that he gave Iran American secrets. Now, Ahmad Chalabi is meeting with Secretary of State Condoleezza Rice and Vice President Dick Cheney. Adrian Wooldrige of The Economist has more on today's meetings as well as Tony Blair's latest political defeat.
Local Elections and National Trends
In the aftermath of Republican big-time losses in yesterday's state-wide elections in Virginia, New Jersey and California, political pros are reading the results and the tea leaves. President Bush himself took a hit in Virginia. Democrats claim momentum is on their side for next year's Congressional show-downs. Republicans advocate forgetting the national message with the reminder that all politics is local. We talk about winners and losers and look for signs of political change. We explore whether the President has become a liability to his own party and hear whether celebrity politics is on the wane in California with journalists, political scientists, and veteran Republican strategists and party officials.