Jim Inhofe: “Let me just say as far as Exxon is concerned that from 2004 to 2008, they paid more than $18 billion in U.S. Federal…”

“Let me just say as far as Exxon is concerned that from 2004 to 2008, they paid more than $18 billion in U.S. Federal income taxes, and that is just some of the taxes they pay. I have to say this, though. The whole discussion on this--the Sanders bill would effectively put the small and the marginal producers in America out of business. It is interesting, when I listen to liberals talk about doing away with drilling, with oil and gas and coal and nuclear-- if you do that, you cannot run this machine called America. Every time they talk about doing something to stop production, as they are doing right now in the gulf--a lot of these people are using and exploiting the tragedy in the gulf to try to retard or stop all production in America. Consequently, this is something where we would be in a position where we would be so rationed in oil and gas that we would have to be more dependent on many of these countries on which we do not want to be dependent. We could completely eliminate our reliance upon the Middle East for any gas or oil within 4 years.”