Pirate's Cove

Wonderful. The Senate is going to sit around and speechify on, as well as demonize, the companies that help make the world economy go

WASHINGTON — Senior executives of the five largest U.S. oil companies were to appear before a congressional committee Tuesday where they could expect to find frustrated lawmakers in no mood for small talk.

“These companies are defending billions of federal subsidies … while reaping over a hundred billion dollars in profits in just the last year alone,” complained Rep. Edward Markey, a Massachusetts Democrat, in previewing the hearing.

The lawmakers were scheduled to hear from top executives of Exxon Mobil Corp., Shell Oil Co., BP America Inc., Chevron Corp. and ConocoPhillips, which together earned about $123 billion last year because of soaring oil and gasoline prices.

Yes, because no other companies and industries get tax breaks. Said tax breaks allow them to do their jobs, and bring us the means to heat our homes and get to work. Cut said tax breaks out, and they may do like many other companies, and move their headquarters to other countries. We do have one of the highest corporate tax rates in the world.

Markey, chairman of the Select Committee on Energy Independence and Global Warming, said he wants to know why, with such profits, the oil industry is steadfastly fighting to keep $18 billion in tax breaks, stretched over 10 years.

First, when in the hell did they change the committe name to include global warming idiocy?

Second, what about all the tax breaks the Democrat controlled Congress is about to give to the corporate builders who are part of the “housing crash and mortage crisis,” which could amount to $33 billion to the taxpayers?

I’d love to see the oil company suits go up and say “fine, screw you, you pompous windbags. We will jack our prices and move offshore. What do you think about those apples? See how popular you are with the American People then. Boneheads.”