On the recordDecember 7, 2006
the Republican solution to our energy needs is to drill anywhere no matter what. We desperately need to develop new energy technologies, but those efforts have been minuscule. Instead the Republican Congress has given massive tax breaks to all companies, as if they need any more incentive. The profits of the five largest oil companies in America, ExxonMobil, Chevron, Texaco, Conoco, Phillips, BP and Shell, were $342.4 billion in just the first quarter of this year. Next year, those companies are going to have some explaining to do. In the first 100 hours of the new Congress, we are going to take the tax breaks and subsidies that this Congress has thrown at oil companies and invest them instead in the new energy technologies that are the real solution to our energy needs. Mr. Speaker, a real energy agenda is coming.
Source
govinfo.gov
