The Senate Finance Committee holds a hearing today on Oil and Gas Tax Incentives and Rising Energy Prices. Here are the witnesses scheduled to testify:
- H. Lamar McKay (Chairman & President, BP America)
- James Mulva (Chairman & CEO, ConocoPhillips)
- Marvin Odum (U.S. President, Shell Oil)
- Rex Tillerson (Chairman & CEO, Exxon Mobil)
- John Watson (Chairman of the Board & CEO, Chevron)
In connection with the hearing, the Joint Committee on Taxation has released Description of Present Law and Select Proposals Relating to the Oil And Gas Industry (JCX-27-11):
This document … provides a description of various aspects of present law relating to the oil and gas industry along with related proposals to modify certain existing rules and make further proposed changes.
- Bloomberg, Exxon Mobil May Suffer, Overseas Rivals Benefit in U.S. Tax Plan
- New York Times, Oil Chiefs Lash Out Against Tax Proposal
- New York Times, Report Strengthens Democrats’ Argument to Eliminate Oil Tax Breaks
- Politico, Exxon CEO Lays Out Industry Defense
- Wall Street Journal, Oil CEOs on the Hot Seat at Senate Finance Panel Hearing
