Oil Price Issues

Top-level executives from the five largest oil companies testifies about the current state of oil and gas prices, oil company profits, and… read more

Top-level executives from the five largest oil companies testifies about the current state of oil and gas prices, oil company profits, and the need for clean, renewable fuels to ease demand for oil and cut global warming pollution. Committee members expressed outrage that oil companies are raking in huge profits at a time when most Americans are struggling to pay their energy bills, but executives claimed that their profits were close to the Dow Jones Industrial Average for major industries and that they were not responsible for record prices. They laid most of the blame on foreign state-owned oil companies. Although emphasizing that oil and gas will remain the primary source of energy in the foreseeable future, they also stressed the investments that their companies have made in renewable energy technologies. However, some members of the committee expressed doubt that the investments were enough to make a difference. Executives asked for a stable, fair tax system that would make long term planning on the part of oil companies easier. close

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*The transcript for this program was compiled from uncorrected Closed Captioning.

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Oil Price Issues

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Program ID:
204656-1
Category:
House Committee
Format:
House Committee
Location:
Washington, District of Columbia, United States
First Aired:
Apr 1, 2008
Last Aired:
Apr 2, 2008

Airing Details

  • Apr 01, 2008 | 12:07pm EDT | C-SPAN 3
  • Apr 01, 2008 | 8:03pm EDT | C-SPAN 1
  • Apr 02, 2008 | 3:10am EDT | C-SPAN 2
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