Congressional committee puts Big Oil in the hot seat

| 4/1/2008

With the nation experiencing record high diesel and gas prices, top executives of the nation’s five biggest oil companies received a chilly reception from some members of a Congressional committee on Tuesday, April 1.

The Associated Press reported that Committee Chairman Rep. Edward Markey, D-MA, opened the hearing by saying: “On April Fools' day, the biggest joke of all is being played on American families by Big Oil.”

Rep. Emanuel Cleaver, D-MO, told the oil executives their approval ratings are lower than those of Congress and “the anger level is rising significantly.”

The oil company officials defended their $123 billion in profits last year, claiming profits during good years help them get through bad years.