"Oil Execs Asked to Justify Huge Profits..." PART 1/2

Oil Execs Asked to Justify Huge Profits at Congressional Hearing

The executives of the five biggest oil companies—Exxon Mobil, Oil Execs Asked to Justify Huge Profits at Congressional Hearing

The executives of the five biggest oil companies—Exxon Mobil, Royal Dutch Shell, BP, ConocoPhilips and Chevron—were called to testify at a congressional hearing on Tuesday. Lawmakers took them to task for making enormous profits but investing next to nothing in renewable sources of energy. They were also called to justify why they got $18 billion in tax breaks last year when their profits had hit $123 billion and oil prices had reached runaway highs. We speak with Steve Kretzmann of Oil Change International.

http://www.democracynow.org

Category:

News & Politics

Tags:

• Oil
• Profits
• Congress
• Exxon
• Mobil
• Execs

[MishuTaste]

Don't ask the oil companies to do something that will reduce their profits (investing in alternative energy). Just stop giving them tax breaks! DUH!

[vudufire]

How do you defend this? What's your cut! corp.oil,warpig's. "Greed is good"!this isn't free market,It's unregulated thievery!!

[alanmorrison1952]

Forgive my naivete, but why are oil companies being asked to research alternative or renewable clean energy when its counter productive to the product their selling?

[gonadcancervictim]

well thanks to government its nearly impossible for the little guy to get into the oil industry and create more competition thus driving down prices, so what we need is more regulations and taxes so the only oil companies that survive are based in foreign countires

[slipshodcoqbgg]

The Oil companies are trying their best to stop free energy ideas from spreading to common ppl.

We need to put an end to this corruption ,start generating your own electricity.

Look for the LT MAGNET MOTOR in youtube video search. Join the Revolution!!

[iradgray]

exxon mobile funds koch industries. i'm not surprised that they don't put money towards clean energy. they fund 50+ fake organizations that put down clean energy.

[planetoperator]

i wonder who could justify needing $100,000 a day for survival on earth.. and there he is. what a greedy species the oil baron is. is it wrong to say ' kill them ' ? ..i'm a peace loving person but i could choke these men. errr

[TheFrankFactor]

$400,000,000.00 severance package and $18,000,000,000.00 in tax breaks. Poor bastards. It's hard out there for a fuckin' pillow handed, white collar pig.

[Loftarasa2006]

This is pretty stupid. Gas is not a right, people drill it and then people buy it. The people who sell it can charge what they want, if you don't/can't buy it, then ride a bike. Why is it an oil company's duty to invest in renewables? If congress has such a huge problem with Exxon's emissions, put more stringent regulations in place. And companies can pay as large a severence as they want, why is that shameful? Makes no sense.

[BATCH420]

Nice editing commies! :)

[VINNYMOR]

Freedom is sunk if everyone surrenders to the evils of envy and the violence of plunder. The owners of Exxon risk investment. To beg the government to use force in order to extract what little is left of profit margin is sick. If you think gas is too high, look to yourself for the soluton. Drive less or work harder. Government can only use force and violence, and it is wrong.

[EasyEs]

No the oil industries profit margins are bellow the INDUSTRIAL average. Your second point is mute because these industries are directly involved in the retail of their products as well as retail of other products besides gasoline. What renewable energy does the government produce with the hundreds of billions in taxes they take from the government. I want oil companies to find oil not chase fantasy energy solutions around on my $