Big Oil Hearing: Schumer Hits Oil Exec on 'Real Fairytale'

At Thursday's Senate Finance Committee on Big Oil, Senator Chuck Schumer presses oil company executives to explain how they can defend oil subsidies, demanding they consider some tough realities for American taxpayers.

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[lithead]

@MetalDetroi Part of that spending is the $4 billion in subsidies we, the citizens, GIVE the oil companies every year of our tax dollars. Where do YOU think we should cut spending? Should we cut aid to students, cancer research, aid to veterans to cut the deficit? Or the subsidies we give to the most profitable corporations the world has ever seen - in the year when they've made the most profit ever?

[krunk859]

The whole point is that they want to know why they shouldn't cut spending for these companies. The government gives these companies money. They can cut spending by not giving them money. Get it?

[MetalDetroit]

Huge Budget Deficit?! - is it the oil companies fault that government is unable to cut their spending !