http://disqus.com/people/4502012c80893f8a7dba3d654839799b/enSat, 05 Apr 2008 10:03:27 -0000http://washingtonindependent.disqus.com/big_oil_defends_profits/#comment-1789069&quot;High profits in up-cycles, they said, are needed to fund development in down-cycles.&quot;<br><br>I didn't see the hearings but this sounds like the same excuses they gave the last time. When was there a down-cycle for oil industry??? Is the panel just playing softball with these oil-moneybags? Did anybody question further about the down cycles? If there ever was downcycle, this time in history should be it. But no - historical record profits rolling in.marlee60Sat, 05 Apr 2008 10:03:27 -0000