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Pelosi: While Americans Struggle to Pay High Prices at the Pump, Major Oil Companies Report Record Profits
October 25, 2005"House Democratic Leader Nancy Pelosi released the following statement today on the major oil companies reporting their third quarter profits this week:
"While Americans struggle to pay high prices at the pump, the world's largest oil company, Exxon Mobil, is expected to report an $8.9 billion profit -- a 56 percent increase from the previous year. The Republicans' solution is to give oil companies with record high profits more than $8 billion in additional tax breaks and subsidies, leaving American consumers holding the tab." [Read more]