Big oil CEOs to face lawmakers
May 9th, 2011
05:37 PM ET
4 years ago

Big oil CEOs to face lawmakers

NEW YORK (CNNMoney) - The oil execs are coming to Washington.

And that means the long-running battle between Democrats, Republicans and oil companies over tax breaks will intensify on Thursday when industry leaders face questions from the Senate Finance Committee.

At issue: Legislation that would cut $4 billion in oil and gas subsidies.

FULL STORY

Filed under: Energy • Taxes
soundoff (7 Responses)
  1. vet in texas

    they won't like being grilled and the speculators won't like being investigated, the prices will come down soon, hopefully we can get another apology from good ole' Joe Barton, like he did for BP during the oil spill.

    May 9, 2011 05:55 pm at 5:55 pm |
  2. SOUTHERN HOTTIE

    With record profits these companies get subsidized still? Oh, that's right, they're championed by Republicans.

    May 9, 2011 05:56 pm at 5:56 pm |
  3. Frank

    I don't understand why companies that are making billions in profits (which is great) would get subsities from tax paying Americans (which is not great). This makes no sence especially when the there is a huge debt that tax payers owe.

    May 9, 2011 05:57 pm at 5:57 pm |
  4. Lisa Brennan

    After setting this straight, take a look at the rich who do not pay taxes. Taxes build society~ and the republicans who want to give breaks to their consorts need to look at what the real meaning of patriotism is. This has made me ill for years~ tax breaks, subsidies for Big Oil, cutting Head Start, library funding, schools, roads, etc. I think we all need to look at these congressional hearings and watch who wants what. WATCH WHO WANTS WHAT! They are breaking apart this country. It is time to revamp the whole mess. Like President Obama said: "It is not enough to change the players, we have to change the game". I only hope he remains strong and determined to make this right.

    May 9, 2011 06:42 pm at 6:42 pm |
  5. diridi

    get them, nab them, if found arrest them....good for the nation...people are suffering as a result of this nasty manipulation by wall-street...focus on energy independence....o.k, do not deviate from it....nation needs it now, it is due now...go..

    May 9, 2011 07:04 pm at 7:04 pm |
  6. Grand Oil (and Tea) Partiers

    Prepare for the repub softball questions and, of course, the apologies to big oil. Every member of the GOP voted in favor of keeping the corporate welfare in place for the record profit boys despite any walk-back they may try.

    May 9, 2011 07:49 pm at 7:49 pm |
  7. no more

    why should big oil care if they have to face law makers, they more than likely will have lunch after they the to TV show (showing america see we do call them on the carpet) we are not stupid. This is nothing more than a dog and pony show.

    May 9, 2011 08:19 pm at 8:19 pm |