Congress Asking Big Oil To Answer: "Why Do You Need Free Money With Billion Dollar Profits?"

Congress, after finally getting enough heat from constituents, is calling on representatives from the five largest U.S. oil companies to Capitol Hill to answer a few questions.

It seems that while posting record profits each quarter (in the tens of billions of dollars), the companies still find it necessary to vehemently fight to retain billion-dollar government tax breaks. With President Bush threatening to veto any legislation that may bring to an end to this form of corporate welfare, congress appears to be pressing ahead with its inquiry.

Many people will argue that oil prices are controlled by the trade price of crude, they almost seem content with rising prices of gas and everything affected by $4.00 a gallon fuel (which is literally ‘everything’). Although, a growing population would like answers regarding profits during the last seven years and the $18 billion special breaks these companies have received while posting a cumulative $123 billion in profits last year.

I sincerely hope congress can get a handle on this clusterfuck and make some headway.

Original here