Fmr Shell Oil Exec - No Subsidies Needed

MSNBC host Cenk Uygur speaks with Senator Claire McCaskill (D-MO) and former Shell Oil president John Hofmeister about Big Oil CEOs trying to defend their government subsidies in a Senate hearing on gas prices.

Category:

News & Politics

Tags:

• Oil
• Unamerican
• Tax
• ConocoPhillips
• Democrats
• Senate
• Finance
• Committee
• Hearings
• Congress
• Executives
• Companies
• Profits
• Subsidies
• TaxBreaks
• Money
• Cenk
• Uygur
• Msnbc

[YOURINQUIRER]

Why should Big Oil cooperate when they hold all the cards?

[orewaroricon]

I wish the guy would've answered Cenk's questions instead of trying to constantly steer the conversation toward his own talking points about more drilling.

[hootiemack]

My goodies. My goodies. My goodies. Not my goodies!

[dragonlancet]

Republican senators are working for oil companies, not for the people who elected them.

[MobRulesNow]

Ha! This oil guy is still a crook. Dodges all questions.

The only honest oil guy is a dead oil guy.

[FamedRolemodel]

Cenk for President!! Haha

[audadvnc]

Oil executive, and former shell of a human being, asks for compassion and forgiveness.

[restlys]

@frictionRx9 I dont see why anyone should take your seriously...you yourself are laughing at everything your are saying.

I feel like we should all just join you.

[ThaIllestBro]

@thookerov ...and has recently seen prices of about 1.80 Euros per litre. (For those who don't know how much that is: 1 Euro equals about 1.45 USD, and 1 gallon equals 3.6 litres). So obviously, the requirements for offering cheap gas (very low taxes) are met in the US, and the gas companies are ripping you off (the crude oil prices dropped significantly in the past couple of days - how much did they drop at the pump?). They even get the oil they extract from US soil for free (only in the US!)

[ThaIllestBro]

@thookerov Actually, there is only one major reason why European consumers pay much more for gasoline/diesel than Americans - and that's taxes (the prices excluding taxes are almost the same as in the US). The EU for example has a law forcing every member state to charge consumers a minimum tax rate of 0.65 Euros per litre of fuel (which converts to about 90 US cents if I'm correct), and practically all European countries charge even more than that; Germany for example charges much more, ....

[thookerov]

Just to play Devil's Advocate a minute: The US allows these oil companies to rape the American taxpayer, yes? They pay actual taxes in other countries, right? But worldwide, America pays LESS for oil-based energy than any other country. Go to Europe, Australia, & other countries with economies similar to the US, & you see gasoline & diesel at MUCH higher prices (even after currency exchange). So when these a-holes threaten our price points, it's possible they're not bullshitting.