Grilling Big Oil In Washington

By Scott Sarvay

May 12, 2011 Updated May 12, 2011 at 5:18 PM EDT

WASHINGTON (Indiana’s NewsCenter) - With gas prices hovering over the $4 mark, residents in northeast Indiana are forced to prioritize their budgets.

Thursday afternoon, executives from five of the largest oil companies were placed on the Congressional hot seat.

They were asked while their profits remain high why they need $4.4 billion in annual tax breaks.
John Watson of Chevron says, “Don't punish our industry for doing its job well. Create energy and tax policies that make our country a more attractive place to do business.”

Some in Congress say that raising taxes on the oil industry would hurt jobs and cause gas prices to increase.

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