Congress lays into Big Oil
Lawmakers drilled major oil executives on Tuesday about their tax breaks, given the current high rate in gas and oil charges. ABC News
Five top executives from the major U.S. oil companies appeared before Congress and were criticized for their failure to eliminate about $18 billion in tax breaks over a ten year period, which occurred during a time of record profits fro the oil industry. ABC News
Representatives from Exxon Mobil, Royal Dutch Shell, BP, Chevron, and ConocoPhillips were also grilled for not investing in renewable resources amid record prices for oil and gasoline..CNN
"Americans are hoping that the top executives from the five largest oil companies will tell us that these soaring gas prices are just part of some elaborate hoax," said Ed Markey, D-Mass, chairman of the House Select Committee on Energy Independence and Global Warming. "Unfortunately, it's not a joke." CNN