Top executives of the five biggest U.S. oil companies were pressed by Congress to explain the soaring fuel prices amid huge industry profits and why they weren’t investing more to develop renewable energy source such as wind and solar. The executives said they understood that high energy costs are hurting consumers, but deflected blame, arguing that their profits — $123 billion last year — were in line with other industries. “The anger level is rising significantly,” said Rep. Emanuel Cleaver, D-Mo., relating what he had heard in his district during the recent two-week congressional recess. “On April Fool’s Day, the biggest joke of all is being played on American families by Big Oil,” Rep. Edward Markey, D-Mass., said as his committee began hearing from the oil company executives. The House last year and again on Feb. 27 approved legislation that would have ended the tax breaks for the oil giants, while using the revenue to support wind, solar and other renewable fuels and incentives for energy conservation. The measure has not passed the Senate. Write your senator--tell them what you think about this issue. And/ or comment here
33 comments:
this is a good idea but we should tax the oil companys alot. we should use more relible fuels that dont hert the consumers pocket book
I think that the profits that these big businesses are making are outrageous. They should definitely end tax breaks to these greedy owners. Our country needs to look to the future, which involves renewable energy sources such as wind and solar power. This money could really help bring about change to our nation, it's consumers, and the economy.
According to the news report we watched today big oil is getting
$107 Billion a year in tax breaks.
The bill to stop this and use the $$ for research on alternative fuels has passed the House. Write your Senator.
These companies who make $123 Billion year dont need tax breaks of $107 Bilion. I think it would be wiser to spend our money in research in renewable energy sources. They make this much money and still dont change the price of fuel greedy turds!!
I think that getting rid of the tax break might help everyone. Not only will they be paying more money, but we will have money for research to find better ways of making fuel without paying so much for it. This might too lower the cost of gas too.
It would be good if the oil companies were able to use wind, solar, and other renewable fuels for energy conservation. If legislation wouldnt have done anything to step forward who knows how much we could be paying for gas. If they can lower the prices at all it would be greatly appreciated.
I think that the companies who make $123 billion a year do not need tax breaks of $107 billion. If they already make that much $ the greedy people do not need a tax break. This would give us more money for research for renewable energy sources.
I think that the tax breaks to these oil companies should end. They make an extreme amount of money and can afford to pay some taxes. The money gained from taxing these companies could be used for researching alternative methods of fuel. This would eliminate the oil company problem all together.
The oil companies that are receiving the profits are just defending themselves and their profits. I doubt that anywhere in their business contracts lists that they have to spend billions of dollars in order to find other ways to fuel their cars. To me, that's stupid. They would basically be just shooting themselves in the foot if they promote other types of fuel.
we should tax them so we can get some money out of them because they arent doing the right thing so lets do it for them
I hope that these oil companies feel good for the problems they are causing the American people. For some people it doesnt even pay to go to work. The gas prices are driving them lower and lower into poverty while these oil compainies are making outrageous $$ and they have tax breaks. If the gas prices have to be this high tax the oil companies and lets help out the poor people.
I think that the profits that these companies are making is crazy. They should end tax breaks to them they dont deserve ttax breaks if they are making that much. I think that our country needs to definitely look in to using more renewable sources. This change and money could really help out our nation and the economy.
i think the gas companies should be taxed like crazy. everything should just be taxed to them becuase of all the problems they are causing for all the people. it is ridiculous
I think it is ridiculous that the rich people are getting tax breaks.. As if they need them...
It is so ridiculous that these oil companies are making such a big profit. they do not need a $107 billion dollar tax break a year. Getting rid of this tax break would help out our economy. Plus these gas prices are ridiculous, how can anyone afford to go anywhere or do anything. Im going to need a raise if gas prices go up anymore. haha
They don't need tax breaks, we do! I think there shouldn't be tax breaks for people with a lot of money. Most of us work very hard for our money only to lose a chunk of it because we're not "rich". They should be spending the money on finding something to help us. The stuff is out there, it just needs to be used correctly.
Gas prices will probably rise proportionally if we decrease tax breaks for oil companies. I'll bet they'll raise them so their profits are even higher. Nonetheless, the best choice is evident and unavoidable. Other courses must be taken. The whole American economy is scattered with inefficient and corrupt industry. The oil and the automobile industries and the American people have had the wrong priorities for a long time, and refocusing efforts to create a sustainable atmosphere will take a lot of efforts. This is a start.
I think that we should tax the oil companies because they are taking advantage of the american public by chargin so much. I think that gas prices are way out of reason. Yeah, its just outrageous as megan has to say, tehe
I agree with miles and taxing the oil companys and could see what else we can use for other fuel!
I think that the big oil companies do not need that $107 billion tax break a year when they make $123 billion a year. We are getting screwed up the yingyang on gas and oil prices. I say we stick where it hurts and go from there.
123 billion dollars a year? i think our goverment needs to regulate the oil industry more. i think basiclly if they decide to make us pay more they will get taxed more and lose thier tax breaks. cause bascilly the owners of these companys are money hungary and becuase this is a non renwable resoures that they just charge what ever price they want. eventully we are going to get sick of this and someone is going to develop a vechiel that will not relay on them and you know what i will not feel sorry for them one bit.
These large oil companies are taking advantage of hte american people by charging so much. They say they reaise the prices because the high oil barrel costs make it so they have to spend more to get it adn tehy need to make profit. When really they are already making more than enough money to where it is almost pointless for them to raise teh gas prices.
the price of oil is outrageous and the oil companies are making big profits makes no sense i am firm about the house passing the no tax breaks for oil industry we should get more into renewable fuels and dump them off the edge.
These stupid executives need to pull their heads out of their money filled behinds... invest in more renewable reasources but why have they been giving the morons tax breaks in the first place? Its half our governments fault that gas is so spendy.....you government needs to downsize and quit spending money on worthless programs,,,,like nasa!!!!!!! though you punish the big corporations and they punish you right back by lowering money spent in the economy....big corporations always have legal loopholes...
I think that big oil should be taxed big time. Here they are getting record profits and getting tax reliefs all the while. They have there dumb excuses as to why the prices are so high but we all know big oil can come down on them.
I think that they should stop cutting there tax break and make them pay then use that money and put it in to researching better ways. The companys should have to know how we struggle to pay for the gas i think they should hurt like us!
yeah well we shouldnt have given these rich buttheads tax breaks in the first place and taxed them then maybe we wouldnt be in this situation. pretty ooutrageous how greedy people are gettting.
I think the oil companies should pay more in taxes when they are bringing in so much profit. They shouldnt get tax breaks because they have lots of money and keep on getting more.
I think the big oil industires should be government controlled and opertated to ensure a secure future in american energy needs. I dont intend on sounding like a commie but something needs to be done because these guys are not having mercy on us.
I think that big oil companies have to much power that does not need to be used to control the prices. The Gov. should regulate!
these oil people are getting annoying i am sick about hearing oh the prices went up again! This is outrageous! They are making so much money it's pathetic. They are nothing but greedy and don't care if some people have to live pay check to pay check and don't make ends meet because they have all the money coming to them.
It is unbelievable how much money that these oil companies are making and yet they are getting tax breaks. I guess we will all have to go to college and get good paying jobs to pay for the high prices of everthing else in this country because i highly doubt any price of anything will go down so all of us you arent rich are pretty much screwed.
I cannot even understand how these rich companies can see everyone suffering with the gas prices and not do something about it. The whole economy of the United States is suffering because of these gas prices. The trucking companies can hardly afford to haul stuff across the U.S. and the consumers are suffering because the prices for shipping are so high. I think greed is a huge factor in this industry. They argue that the other industries are making more money, so why cant they? I dont think that they should even pay attention to how much the other industries are making, because they themselves are already well off and dont need to compete with the other industries to see who can make more money.
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