Hearing on Oil Profits and Subsidies: Markey's Questions

The Select Committee on Energy Independence and Global Warming holds a hearing, "Drilling for Answers on Oil and Gas Prices, Profits, and Alternatives." Top-level executives from the five largest oil companies will discuss the current state of oil and gas prices, oil company profits, and the need for clean, renewable fuels to ease demand for oil and cut global warming pollution. The Select Committee will hear from the number two officers worldwide for the three United States-based oil companies and the presidents of U.S. operations for the foreign companies. ExxonMobil reported record profits of $40.6 billion in 2007, and the other top four oil companies like BP and Shell made billions more. These same companies are fighting to keep $18 billion in tax breaks that Congress is attempting to shift towards renewable energy incentives for wind, solar, biomass and other climate-friendly sources. The House recently passed the Renewable Energy and Energy Conservation Tax Act of 2008, but President Bush and the top oil companies are fighting to defeat the measure in the Senate. Chairman Ed Markey questions the executives.

Category:

News & Politics

Tags:

• Democrats
• Congress
• Hearing
• Select
• Committee
• on
• Energy
• Independence
• and
• Global
• Warming
• Oil
• Executives
• Gas
• Prices
• Markey

[slanderousndgs]

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!!

[judyleasugar97]

We need to END CORPORATE WELFARE. We gave oil companies billions of dollars in subsidies last year and the Republicans bitch that we can't afford the cost of public health care? What insanity is that??? 

[kryz24v]

I think it is a great idea to nationalize the oil field. Then the revenue can be used for clean up.

[70road]

Exxon paid ZERO in US taxes for 2009. I had to pay 27%. How can anyone defend this.

[csrocker101]

oh shit! Another youtube politician. Forgive me for even trying to challenge your intellect. You're so much smarter than me. Please forgive my "epic fail" or whatever the hell that means and yes I would argue that he was.

[Hydrocram]

k, now I'm going to own you. 1st...I'm not even American so Bush is not my hero. 2nd...more socialist than ANY other president you say??? Really??? more socialist than Woodrow Wilson or maybe FDR who served 4 (four) terms which lead to the 22nd amendment??? Bush was more socialist than them??? Your comment is the definition of epic fail.

[Hydrocram]

too easy....Maxine Waters. look it up

[csrocker101]

Ya Democrats want to "nationalize" oil companies. When was that ever said? Your hero George W. Bush is more of a socialist than any president in US history. Nationalized some of our nation's largest banks, the auto industry, and expanded Medicare. So please stop with the ridiculous socialist argument.

[coolcanuck]

Is that you Satan?

[sshapewa]

why are people so jealous of oil companies!!let them make their trillions!!its not like u provide anything for society!!find something and sell it!!!