Page added on March 31, 2008
Congress is set to grill oil executives over tax breaks Tuesday. But with record gas prices and company profits, the public has more on its mind than just IRS policy.
NEW YORK (CNNMoney.com) — Under the backdrop of record gas prices and record profits, Congress is set to grill executives Tuesday from the world’s five biggest oil companies.
Lawmakers are expected to focus their questions on why the cash-rich industry needs $18 billion in tax breaks over ten years with some in Congress looking to take them away and use them to subsidize renewable energy projects.
Beyond the tax breaks though, congress is sure to raise issues surrounding the industry’s record profits. But it shouldn’t be just lawmakers that get to ask the questions. So CNNMoney.com asked the general public and some industry-watchers: If they could ask oil executives anything, what would they ask?
“Are they going to tell the citizens why gas prices are so high?” said Maryann Mancino, who drove into Manhattan from New Jersey to attend the New York auto show.
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