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Jeff Malet  > Politics > Senate Finance Oil Hearing (5/12/11)
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The heads of five of the largest oil and gas companies in the world testified before the Senate Finance Committee on May 12, 2011 on Capitol Hill in Washington DC, arguing that ending tax incentives would reduce exploration, eliminate jobs and stifle economic growth while doing nothing to reduce fuel prices. Participating were executive officers of Exxon, BP America, Shell, ConocoPhillips and Chevron. (Photo by Jeff Malet)
The heads of five of the largest oil and gas companies in the world testified before the Senate Finance Committee on May 12, 2011 on Capitol Hill in Washington DC, arguing that ending tax incentives would eliminate jobs and stifle economic growth while doing nothing to reduce fuel prices. Seated left to right at the witness table - John Watson, Chairman of the Board and Chief Executive Officer, Chevron Corporation; Marvin Odum, U.S. President, Shell Oil Company; H. Lamar McKay, Chairman and President, BP America Inc.; James Mulva, Chairman and Chief Executive Officer, ConocoPhillips; and Rex Tillerson, Chairman and Chief Executive Officer, Exxon Mobil Corporation. (Photo by Jeff Malet)
A serious looking Rex Tillerson, Chairman and Chief Executive Officer, Exxon Mobil Corporation, listens to a Senator's question. The heads of five of the largest oil and gas companies in the world testified before the Senate Finance Committee on May 12, 2011 on Capitol Hill in Washington DC, arguing that ending tax incentives would reduce exploration, eliminate jobs and stifle economic growth while doing nothing to reduce fuel prices. Participating were executive officers of Exxon, BP America, Shell, ConocoPhillips and Chevron. (Photo by Jeff Malet)
James Mulva, Chairman and Chief Executive Officer, ConocoPhillips gives testimony. The heads of five of the largest oil and gas companies in the world testified before the Senate Finance Committee on May 12, 2011 on Capitol Hill in Washington DC, arguing that ending tax incentives would reduce exploration, eliminate jobs and stifle economic growth while doing nothing to reduce fuel prices. Participating were executive officers of Exxon, BP America, Shell, ConocoPhillips and Chevron. Sens. Chuck Schumer (D-NY) and Robert Menendez (D-NJ) both took offense to a ConocoPhillips press release that said the Democrats plan to repeal $21 billion in tax incentives is "un-American". (Photo by Jeff Malet)
Rex Tillerson, Chairman and Chief Executive Officer, Exxon Mobil Corporation, gives testimony. The heads of five of the largest oil and gas companies in the world testified before the Senate Finance Committee on May 12, 2011 on Capitol Hill in Washington DC, arguing that ending tax incentives would reduce exploration, eliminate jobs and stifle economic growth while doing nothing to reduce fuel prices. Participating were executive officers of Exxon, BP America, Shell, ConocoPhillips and Chevron. (Photo by Jeff Malet)
Marvin Odum, U.S. President, Shell Oil Company, gives testimony. The heads of five of the largest oil and gas companies in the world testified before the Senate Finance Committee on May 12, 2011 on Capitol Hill in Washington DC, arguing that ending tax incentives would reduce exploration, eliminate jobs and stifle economic growth while doing nothing to reduce fuel prices. Participating were executive officers of Exxon, BP America, Shell, ConocoPhillips and Chevron. (Photo by Jeff Malet)
H. Lamar McKay, Chairman and President, BP America Inc. gives testimony. The heads of five of the largest oil and gas companies in the world testified before the Senate Finance Committee on May 12, 2011 on Capitol Hill in Washington DC, arguing that ending tax incentives would reduce exploration, eliminate jobs and stifle economic growth while doing nothing to reduce fuel prices. Participating were executive officers of Exxon, BP America, Shell, ConocoPhillips and Chevron. This was a return trip for McKay who a year ago testified at a Senate hearing investigating a massive oil leak in the Gulf of Mexico involving his company. (Photo by Jeff Malet)
The heads of five of the largest oil and gas companies in the world testified before the Senate Finance Committee on May 12, 2011 on Capitol Hill in Washington DC, arguing that ending tax incentives would eliminate jobs and stifle economic growth while doing nothing to reduce fuel prices. In photo, seated top to bottom at the witness table - John Watson, Chairman of the Board and Chief Executive Officer, Chevron Corporation; Marvin Odum, U.S. President, Shell Oil Company; H. Lamar McKay, Chairman and President, BP America Inc.; James Mulva, Chairman and Chief Executive Officer, ConocoPhillips; and Rex Tillerson, Chairman and Chief Executive Officer, Exxon Mobil Corporation. (Photo by Jeff Malet)
US Senator Orrin Hatch (R-UT) (left) mocks a Senate Finance Committee Hearing as a "Dog and Pony Show" by displaying a large picture of a dog and pony. Senator Charles 'Chuck' Grassley (R-IO) (right) is amused. The heads of five of the largest oil and gas companies in the world testified before the Senate Finance Committee on May 12, 2011 on Capitol Hill in Washington DC, arguing that ending tax incentives would reduce exploration, eliminate jobs and stifle economic growth while doing nothing to reduce fuel prices. Participating were executive officers of Exxon, BP America, Shell, ConocoPhillips and Chevron. (Photo by Jeff Malet)
The heads of five of the largest oil and gas companies in the world testified before the Senate Finance Committee on May 12, 2011 on Capitol Hill in Washington DC, arguing that ending tax incentives would eliminate jobs and stifle economic growth while doing nothing to reduce fuel prices. Seated left to right at the witness table - John Watson, Chairman of the Board and Chief Executive Officer, Chevron Corporation; Marvin Odum, U.S. President, Shell Oil Company; H. Lamar McKay, Chairman and President, BP America Inc.; James Mulva, Chairman and Chief Executive Officer, ConocoPhillips; and Rex Tillerson, Chairman and Chief Executive Officer, Exxon Mobil Corporation. (Photo by Jeff Malet)
The heads of five of the largest oil and gas companies in the world testified before the Senate Finance Committee on May 12, 2011 on Capitol Hill in Washington DC, arguing that ending tax incentives would eliminate jobs and stifle economic growth while doing nothing to reduce fuel prices. Seated left to right at the witness table - John Watson, Chairman of the Board and Chief Executive Officer, Chevron Corporation; Marvin Odum, U.S. President, Shell Oil Company; H. Lamar McKay, Chairman and President, BP America Inc.; James Mulva, Chairman and Chief Executive Officer, ConocoPhillips; and Rex Tillerson, Chairman and Chief Executive Officer, Exxon Mobil Corporation. (Photo by Jeff Malet)
The heads of five of the largest oil and gas companies in the world testified before the Senate Finance Committee on May 12, 2011 on Capitol Hill in Washington DC, arguing that ending tax incentives would eliminate jobs and stifle economic growth while doing nothing to reduce fuel prices. Seated left to right at the witness table - John Watson, Chairman of the Board and Chief Executive Officer, Chevron Corporation; Marvin Odum, U.S. President, Shell Oil Company; H. Lamar McKay, Chairman and President, BP America Inc.; James Mulva, Chairman and Chief Executive Officer, ConocoPhillips; and Rex Tillerson, Chairman and Chief Executive Officer, Exxon Mobil Corporation. (Photo by Jeff Malet)
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Keywords: barrel commodity oil exploration gasoline congress traders drilling ceo senators futures deficit petroleum natural gas speculation subsidies 8598 tax breaks financial regulation refiners
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