On the recordSeptember 20, 2011
I would say given their multibillion dollars in profits--I think they have almost a trillion dollars in profits over the last 10 years--I would say they don't need the incentives to drill.
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congress.govRaúl Grijalva: “I would say given their multibillion dollars in profits--I think they have almost a trillion dollars in profits over the…”
Editor's note · Context
Grijalva asserts that the oil industry does not require subsidies due to high profits.
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You are hearing that correctly. Any American, or notably, any American subsidiary of a foreign company could have the exclusive rights to our public lands for about $10 per acre per year.
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