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TRUCKERS' STRIKE RESULTS * USA - Oil bosses to face Congressional grilling
Executives from the big five oil companies will appear before Congress: about how they're raking in big profits while consumers are being hammered at the pump
Washington,DC,USA -CBS/AP -April 1, 2008 10:28 AM: -- ... Irving-based Exxon Mobil and Houston-based Shell, BP America and Conoco-Phillips joined California-based Chevron in earning a combined 123 billion dollars last year because of rising prices... The House Select Committee on Energy Independence and Global Warming wants to know why, with such big profits, the oil industry is trying to hold on to $18 billion in tax breaks... Rep. Ed Markey, D-Mass, told The Early Show: "Exxon only spent $10 million on renewable energy resources last year even as they reported $40 billion worth of profits. We can never get out of this trap as long as the oil companies want to hold us hostage to this old agenda." "Otherwise," Markey concludes, "consumers are just going to continue to be tipped upside down at the pump and have money shaken out of their pockets every time they go to fill up."
Labels: truckers' strikes
posted by Unknown @ 7:27 PM
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