With oil prices and heating issues surpassing healthcare as the top concern among Americans, reps from ExxonMobil, Chevron, ConocoPhillips, and the US subsidiaries of British Petroleum and Royal Dutch Shell recently testified in front of the Senate Energy and Commerce committees to explain record third quarter profits of $32.8 billion.
Several senators have been rallying support for a windfall profit tax, which would put an extra 50% tax on profits when oil is more than $40 a barrel. The LA Times ...