Following the money again
For the seventh time in a row, Chairman Doc Hastings (R-WA) of the House Natural Resources Committee held a hearing where he pushed for more domestic production of oil and gas, a proposal known to benefit Big Oil with little impact on gas prices. His colleague on the Committee, Rep. Jeff Landry (R-LA), whose largest single industry contributor is oil and gas, took the opportunity at the hearing to defend the profits of Big Oil.
He and other Republicans argued that the profit margin for major oil companies is commensurate with other industries. But in 2010, Exxon Mobil had $30.9 billion, Shell had $18.28 billion, and Chevron had $19.29 in profits. Bill Graves from the American Trucking Association had to “agree to disagree” with that reasoning.
Big Oil also was defended by the Republican majority witness from the U.S. Chamber of Commerce, Karen Alderman Harbert.
Keeping the wallets full and the sugar-daddies happy. Nature? When Mother Earth starts paying them, then…
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