Source: Washington Post
In a rather laughable political move, we learn that the Senate Finance Committee promised "a comprehensive review of the federal taxes paid" by the 15 largest oil and gas companies.
Yeah, right...one of the biggest lobbbyist groups in the world is just going to play nice with Congress and tell all....
A Senate committee yesterday announced an investigation into taxes paid by major oil companies and asked the Internal Revenue Service for the companies' tax returns.
The Senate Finance Committee promised "a comprehensive review of the federal taxes paid" by the 15 largest oil and gas companies. The panel said it wants to inspect their tax returns for the past five years. Sen. Charles E. Grassley (R-Iowa), the committee's chairman, said the panel is concerned about high profits and executive compensation at oil companies.
With gasoline prices soaring and oil companies announcing record profits, "it's relevant to know what the real financial picture is for this industry," said Sen. Max Baucus (Mont.), the ranking Democrat on the committee.
This investigation will last about as long as it takes to cash the latest check their office has received from "big oil" lobbying efforts.
Nice "smoke and mirrors" trick, fellas, but you ain't fooling any one.
Tags: [Senate Finance Committee], [Committee promises a comprehensive review of the federal taxes paid by the 15 largest oil and gas companies], [big oil lobbying], [Max Baucus], [Charles E. Grassley], [Internal Revenue Service]
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