Who uses all his power to do evil,
But in the end is left on his ***,
That man whom with his accountants cheats
And who lies with ev'ry breath.
Who passionately hates the folk,
And likewise fears his death.
"Menendez' bill would prohibit the five oil companies from taking a tax deduction originally aimed at boosting domestic manufacturing. The bill would also eliminate a tax break that allows oil companies to reduce their American taxes by deducting royalties paid to foreign governments.
"These subsidies were passed when the price of oil was $17 a barrel, when you needed some incentive for exploration," said Sen. Chuck Schumer, D-N.Y. "With the price of oil at $100 a barrel, the only thing that keeps them in place is pure politics."
5 CEO's of the biggest Oil companies faced a suspicious Senate Committee. In 2005 an OilCo CEO had said that the time for Oil Company Subsidies was long past. The current crop disagrees profoundly despite record profits. The CEO's draw from 11.5 Million down to a paltry 5 million Dollars a year in salaries. Bonuses were not revealed.
One thing to note however, no CEO in this crop ever found a teacup of oil.
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