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Washington, D.C. – Two of the world’s biggest oil companies announced billions in profits today and the rest of the industry is expected to post similarly high numbers later this week.  BP recorded a first-quarter profit of $7.1 billion and ConocoPhillips recorded a $3.03 billion profit – and yet gas prices in the U.S. have jumped a dollar per gallon in the last year while oil companies continue to receive billions in subsidies.  Oregon’s Senator Jeff Merkley released the following statement in response to the profit postings:

 
“Oregon families are looking under sofa cushions to scrape together enough money to fill up their tanks, and now we see where those hard-earned dollars are going.  Families may be spending late nights around their kitchen tables worrying about their finances, but oil company executives are around their boardroom tables celebrating.
 
“So why are some in Congress still fighting to protect Big Oil’s massive multi-billion dollar subsidies?
 
“Every time Oregonians fill up, they’re reminded how vulnerable we are – to unrest in the Middle East, to Wall Street speculators chasing a quick buck, to Big Oil lobbyists piling taxpayer subsidies on top of the billions they already get from us at the pump. 
 
“We need to break our dependence on oil.  And a great way to start is by repealing these wasteful subsidies and instead investing in developing clean, renewable, homegrown sources of energy so Americans are in control of our own economic future.
 
Last year, Senator Merkley put forward an oil independence plan to eliminate all foreign imports from non-North American nations by 2030.  It includes steps to ramp up production and use of electric vehicles, increase efficiency of freight transportation, improve mass transit, develop alternative transportation fuels, and reduce the use of oil to heat buildings.
 
Read Senator Merkley’s oil independence plan online: click here.

 

 

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Traffic & Weather

 

 

 

King Solomon Lane closed between Ferguson Road and King David. (7/25)

 

Jones Road, full road closure between Bennington Lane and NE Butler Market Road. May 18 – August 18, local access only.
 

Oregon State University off-site improvements for intersection reconstruction, July 11 – August 3,    7 a.m. – 4:30 p.m., at intersection of Chandler Avenue and Yates Drive.

 

Orion Drive closed in two locations for sewer work; at the intersection with Avery Lane and between Desert Woods Drive and King Hezekiah Way.  From July 11 to Sept. 6. Detours marked.

 

Valhalla Sewer Relocation Project, Mt. Washington Drive at Shevlin Park Road intersection and North to Regency Street. Nighttime closures with detours marked during roundabout construction. Daytime closures for construction towards Regency Street.    7 p.m. – 7 a.m., July 11 – November.

 

R.A.B. Construction:

 

Murphy Road and Parrell Road closed with detours. (9/30)

 

Powell Butte Highway at Neff and Alfalfa Market Roads (8/31)

 
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