Big Oil Prepares for Grilling by Congress
Tuesday, November 08, 2005
(SNN Washington) On Wednesday, energy executives will travel to Congress to justify high gasoline prices. Congress must decide if it will have to levy a tax on record oil industry profits.
Congress must decide if it will have to levy a tax on oil industry profits
The chief executives lining up to face the joint hearing of the Senate energy and commerce committees include Exxon Mobil Corp.’s Lee Raymond, ConocoPhillips’s Jim Mulva, Chevron Corp.’s David O’Reilly, BP America Inc.’s Ross Pillari, and Shell Oil Co.’s President John Hofmeister. It is expected that lawmakers, feeling heat over high gasoline prices will give the oil company executives quite a grilling.
The grilling will start with Trent Lott
The grilling will start with Trent Lott, who will be making ribs. Lott is famous for his barbeque sauce. In addition, Charles Grassley will be making baked beans. Rick Santorum has agreed to cook chicken breasts, and Bill Frist will assemble those breasts into sandwiches. On the minority side, Harry Reid is expected to bring nacho chips, Hillary Clinton and Chuck Schumer have offered to make potato salad, and John Kerry will provide condiments.
The Senators hope that if they put together a good enough meal, the oil executives will not raise gas prices even further.