Democratic Senator Calls Big Oil Execs Selfish, Unfeeling -- And Unbeatable
by Dan Froomkin
05/12/11
WASHINGTON -- The unapologetic -- indeed combative -- testimony on Thursday by top oil executives summoned to defend multi-billion tax subsidies for their industry infuriated some Senate Democrats, one of whom accused the executives of being "profoundly out of touch" with average Americans.
The heads of the Big Five oil companies, currently enjoying a windfall from high oil prices, soundly rejected a Democratic request that they renounce $2 billion in tax breaks, declaring instead that they were entitled to every penny.
Exxon Mobil CEO Rex Tillerson called the attempt to roll back the subsidies "misinformed and discriminatory" and he issued a threat to the assembled members of the Senate Finance Committee: "You give me a different tax burden," he said, "I'm going to take my capital then, since the U.S. isn't attractive, I've got to go somewhere else."
It was all too much for Sen. Jay Rockefeller (D-W.Va.).
"I get the feeling that it's almost like you're -- like the five of you are like Saudi Arabia. That you're caught up in your profits, you're highly defensive, you yield on nothing," he said. "I think you're out of touch. Deeply, profoundly out of touch. And deeply and profoundly committed to sharing nothing."...
For the full article, go to:
http://www.huffingtonpost.com/2011/05/12/democratic-senator-calls-_n_861199.html
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