Political Quotes

“the Windfall Oil Profits for Heating Assistance Act of 2000 is a bit of a mouthful, but let me explain what this does. My legislation imposes a windfall profits adjustment on the oil industry so we can fund heating help for consumers and small business owners across America. Mr. President, while American families have been paying sky-high prices at the gas pump and are bracing for record-high home heating costs this winter, the oil industry is savoring phenomenal profits. Something is wrong when working families are struggling to pay for basic transportation and home heat while Big Oil rakes in obscene amounts of cash by the barrel. Indeed, the overall net income for the 14 major petroleum companies more than doubled in the second quarter of 2000 relative to the second quarter of 1999, to $10.3 billion. In the second quarter of 2000, BP Amoco PLC reported profits of $2.87 billion, Chevron Corporation reported profits of $1.14 billion, Conoco reported profits of $460 million, Exxon Mobil Corporation reported profits of $4.53 billion, Marathon Oil Company reported profits of $367 million, Phillips Petroleum Company reported profits of $439 million, Royal Dutch/Shell Group reported profits of $3.15 billion and Texaco, Inc. reported profits of $641 million. Look at these huge profits.…”