[Congressional Record Volume 146, Number 78 (Tuesday, June 20, 2000)]
[House]
[Page H4681]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




 OIL COMPANIES REPORT RECORD PROFITS IN WAKE OF RISING GASOLINE PRICES

  (Mr. KUCINICH asked and was given permission to address the House for 
1 minute and to revise and extend his remarks.)
  Mr. KUCINICH. Mr. Speaker, as gasoline prices throughout the United 
States go from $2 a gallon and even towards $3 a gallon, I think it is 
instructive for this Congress to review the profits of the major oil 
companies even before this round of increases in the price of gas.
  Listen to this, the profit increases over the last year: Texaco, 473 
percent increase in profit. Phillips Petroleum, 257 percent increase in 
profit. Conoco, 371 percent increase in profit. Chevron, 291 percent 
increase in profit. BP Amoco, 296 percent increase in profit.
  I do not know of anyone in America who is getting a raise of a few 
hundred percent. The American people are struggling to survive and the 
oil companies are ripping them off. We need a windfall profits tax. We 
need to make sure that there is some balance brought back in this 
economy. It is time to go after the oil companies.

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