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. Rep. Hilda Solis gives opening remarks.
Duration : 0:6:8
July 10th, 2009 at 5:55 pm
so I guess when …
so I guess when Exxon pays 44% of all income (like $400 billion) in taxes, that is not good enough…
what are we retarded?
STOP BLAMING AND SOLVE THE PROBLEM… bunch of whiners
if you don’t allow us to invest not only in drilling for oil, but limiting us in wind and natural gas, then you get high prices when demand is high…
you cannot tell me to not drill and then complain about high costs… it’s hypocrisies at it’s finest
July 10th, 2009 at 5:55 pm
Gov’t officials are …
Gov’t officials are wastes of space.
July 10th, 2009 at 5:55 pm
I can’t stand to …
I can’t stand to listen to a bunch of stupid sons a who buy into this bullshit on greenhouse and global warming This is all a political scam to scare the stupid American people. LIES LIES LIES LIES LIES LIES LIES Hang these son a for treason
July 10th, 2009 at 5:55 pm
Nancy Pelosi you …
Nancy Pelosi you are an idiot. The last I checked, a tax break is just allowing somebody to keep their OWN money. You are so arrogant. How can you pretend like that money belongs to the gov’t to start with as if it’s yours to allocate to whatever pet project you see fit? Doesn’t the gov’t waste enough of our money already, something that you refused to stop by shelving the one yr. moratorium on pork. If you were talking about subsidies that’s different but that’s not what the decription says.
July 10th, 2009 at 5:55 pm
Did anyone expect …
Did anyone expect us to advance alternative sources of power during the years Oil Barrons were in power? Or the years a Demoncrat was in power? Clinton fooled me till I realized he also caved in to creating a short term positive legacy. 1% used NAFTA to transfer a huge amount of wealth to themselves while annihilating the middle class. Oh, but wait we have more millionaires than ever! Lol Lol
July 10th, 2009 at 5:55 pm
‘I don’t know …
‘I don’t know anything about that model but my guess would be less power, more expensive parts..
It is doable…and to believe Exxon pays car companies to hold down mpg is a joke.’
I did pay almost 2k more for that engine but it saved many k over the years. I think that is anathema to immediate gratification which is our present God, like this War ‘feels good to exact revenge’ in spite of the fact that we are raping our people, constitution, ‘real’ values and YES our economy!
July 10th, 2009 at 5:55 pm
“In 1992 I had a …
“In 1992 I had a Honda Civic VX that did 52MPG in the highway!! Sure, tell me it is not doable.”
I don’t know anything about that model but my guess would be less power, more expensive parts..
It is doable…and to believe Exxon pays car companies to hold down mpg is a joke.
IF tomorrow Ford comes out with a 100mpg car, the market share for that car would be 85%. They would make more selling a car with the most mpg.
Why are you calling me a neo-con, i’m asking for free markets..no regulation
July 10th, 2009 at 5:55 pm
Neocon gospel?
– …
Neocon gospel?
–I’m asking for less regulation.
–When in America was it bad to make too much money?
–I’m askng for 0% income tax. You sound like you want rich people to give up all their money.
July 10th, 2009 at 5:55 pm
Inflation doesn’t …
Inflation doesn’t hurt me.. or probably you.
July 10th, 2009 at 5:55 pm
It’s called sarcasm.
It’s called sarcasm.
July 10th, 2009 at 5:55 pm
” get rid of that …
” get rid of that pesky tax …since..ppl.. share the burden.”
So we agree on something?
–Taxes and over-regualting a business because they make too much money are two different things.
I guess next we should go after that Bill Gates making money off the backs of the “average american.”
–Everyone has a choice, they can use it (gas) or there are ways around it (the ways may be difficult, but there are always other ways).
July 10th, 2009 at 5:55 pm
“jump from the 30 …
“jump from the 30 billion to 120 billion … is justified?”
Don’t know where you get that Exxon’s income was 40 bil.. not 120. Do you undertand they sell wayy more then just gas at the pump..
“Are you really saying that their allocation of funds,.. is acceptable?”
Yes, it is not the oil companies job to put themselves out of business. Capitalism isn’t a feel good story. It’s hard work of many people, why again should they accept losses?
Oil companies loyalty is to their shareholders.
July 10th, 2009 at 5:55 pm
You spew Neocon …
You spew Neocon gospel but don’t know your God?
–Shall we just give 100% of our income to the government, let me guess that’s not socialism either.
Who even cam close to suggesting that?
You just gave yourself away, and, we are not even starting. Thanks I can move on…
July 10th, 2009 at 5:55 pm
In 1992 I had a …
In 1992 I had a Honda Civic VX that did 52MPG in the highway!! Sure, tell me it is not doable.
Lol Lol Call that extreme? Japan uses 17% less oil today than at the end of WW2! I wonder how they did that? Hmmmm Free markets Hmmmm!
Put away your Neocon handbook and use the Coconut God gave you for once, PLEASE!
July 10th, 2009 at 5:55 pm
Sure what do you …
Sure what do you propose? 1% keep riding the backs of the 80% who really work for a living?
NEWSFLASH///// Look at what happens when we allow your kind too much power. The unchecked greed is coming around full circle right back at you! What do you say to that? or did you know this was coming and exchanged all your dollars to euros or better yet gold?
What you do to your brother you do to yourself! If your policies hurt and demoralize 80% of the population it will hurt your profits. BOTTOMLINE!
July 10th, 2009 at 5:55 pm
what do you think …
what do you think about; geothermal,etc…”
The free market will take care of them.
–”Environment is in the dump”
Who says? Al Gore? The man who plans to spend 300 mil to convince ppl global warming is a problem? If you’re talking about water problems in Africa, that’s corruption, not because my car only gets 20 mpg.
“Oh, but we should do away with FDA, EPA because it hurt business.”
–No keep them. Limit the regulations. No need to force co. to boost mpg to extremes.
July 10th, 2009 at 5:55 pm
Guess we need to …
Guess we need to get rid of that pesky tax system since it forces people to share the burden.
July 10th, 2009 at 5:55 pm
(Don’t waste …
(Don’t waste people’s time with personal attacks, btw I put all my information up, you put nothing.)
I was responding to your message: “Can we share all the burden”
–That’s socialism. Make your case that sharing the burden is not scoialism.
–Shall we just give 100% of our income to the government, let me guess that’s not socialism either.
July 10th, 2009 at 5:55 pm
Do you know who …
Do you know who your God is? Spell this L-E-O S-T-R-A-U-S-S… go ahead and deny it. Goooo
July 10th, 2009 at 5:55 pm
I most respect …
I most respect people that can break ranks with their ‘fraternity’ of choice. I am a Liberal,but I come from a Libertarian ideal and not a communist/socialist one. The oil companies claim that the profits are required for a company that depends on large profits to bear the down cycles. How come this does not apply to ‘Joe Six Pack’? Also, how come every corp passes the buck 100% (heck even take advantage) to the consumer at the end. Can’t we all share the burden? GBOT!
July 10th, 2009 at 5:55 pm
Can you spell Ad …
Can you spell Ad Hominem?
If it challenges your ‘Fraternity Credo’ or your ‘Core Values=Zealot Beliefs’ respond by pigeon holing your perceived enemy.
Case and point look at China it is in all actuality unchecked capitalism. Exactly what we would have here if we did not BALANCE our policies. Your response speaks volumes about you and those you represent.
Bye.
July 10th, 2009 at 5:55 pm
You’re not …
You’re not socialist, but you want to share the burden…hmmm
You contradicted yourself in less then a 500 word post.
July 10th, 2009 at 5:55 pm
(grazon)
So the …
(grazon)
So the democrats can fix the oil prices?
July 10th, 2009 at 5:55 pm
(tainoaz)
It’s …
(tainoaz)
It’s called capitalism..
If you want socialism… I heard it’s the hip new thing in England, maybe you should move.
Bye.
July 10th, 2009 at 5:55 pm
“You’re telling me …
“You’re telling me short supply, which it isn’t”
A demand rising faster then the supply is a short supply, that’s what is happening.
-You say you realize it’s more then two factors then you explain to me why it doesn’t make sense?? It’s not just inflation, it’s speculation, and rising demand driving up the cost per barrel.
-Gas at the pump follows the oil/barrel.
Congress calling them up is only a marketing strategy, will congress do anything? No..they really can’t do anything.