Ed Markey: “I thank the gentleman very much. The oil companies are making windfall profits right now. Look at what just happened in…”

“I thank the gentleman very much. The oil companies are making windfall profits right now. Look at what just happened in the last 3 months: ExxonMobil made $10 billion; Shell, $8 billion; BP, $7 billion; $6 billion for Chevron; $3 billion for Conoco. Yet the Republicans oppose allowing the Democrats to bring out here a motion that will take away tax breaks that are meant for companies that make toasters or aluminum foil, but not the oil industry. The oil industry does not need a subsidy from the American taxpayer as they are tipping consumers upside down at the pump every single day. We need to take back those tax breaks and use them; use them to reduce the deficit, use them to help grandma with Medicare, use them for things that are important, but not for oil companies at this time. So, what have the Republicans decided to do? The Republicans instead have decided to squeeze--to squeeze Medicare, to squeeze the program for grandma, so that they can find the revenues to give tax breaks for oil companies. I will tell you, the GOP has set up a legislative drill rig on top of the Medicare program to poke holes in our seniors' safety net. That is right, Mr. Speaker, the Republicans are building a pipeline into the pocketbooks of our seniors so that they can pump them dry. No money for Medicare, but plenty of breaks for the oil companies. And they are going to deny the Democrats the ability to have a vote here on the House floor on those tax breaks for oil companies here today.…”