Profits realistic, oil execs insist |
| Houston Chronicle - Apr 2, 2008 |
Oil company executives expressed sympathy for consumers hurt by high energy costs Tuesday but defended their companies' record profits.
With gasoline prices at an all-time high and angry truck drivers parking their rigs Tuesday in protest of even-higher diesel prices, executives from the nation's five largest oil companies appeared before a House panel, where they were chastised by Democrats for their corporate profits and failure to invest more in renewable energy sources.
"On April Fools' Day, the biggest joke of all is being played on American families by Big Oil, who are using every trick in the book to keep billions in federal tax subsidies, even as they rake in record profits," said Rep. Edward Markey, D-Mass., a longtime oil industry critic and chairman of the House Select Committee on Energy Independence and Global Warming.
Read Full Article from Houston Chronicle
- Posted: 2008-04-02 08:53:31
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