Topic: Big Oil talk
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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.
While independent truckers around the nation were striking to highlight the disastrous impact of soaring fuel prices on their survival, the executives of the five biggest oil companies justified their record profits at a Congressional hearing Tuesday. US Lawmakers took the executives of Exxon Mobil, Royal Dutch Shell, BP, ConocoPhilips, and Chevron to task for making enormous profits but investing next to nothing in renewable sources of energy. Congress called on them to justify why they got $18 billion dollars in tax breaks last year when their profits had hit $123 billion dollars and oil prices had reached runaway highs. The oil company representatives were testifying before the Select Committee on Oil prices and Energy Independence.
Oil Change International is a group that has been tracking the promises and realities of big oil companies and the obstacles in moving toward clean energy.
Steve Kretznmann is the Executive Director of Oil Change International.
Democracy Now real player stream
http://play.rbn.com/?url=demnow/demnow/demand/2008/april/video/dnB20080402a.rm&proto=rtsp&start=34:49
(Emanuel Cleaver reps real hard in this piece.)
C-Span whole two hour hearing
rtsp://video.c-span.org/project/energy/energy040108_prices.rm
Oil Change International.
http://priceofoil.org/2008/04/02/big-oil%e2%80%99s-biggest-joke/#more-2533
