[Congressional Record Volume 152, Number 102 (Friday, July 28, 2006)]
[House]
[Page H6021]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                           EXXONMOBIL PROFITS

  (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, ExxonMobil profits surged 36 percent to 
$10.4 billion in just the last 3 months. That means they made $1,310 a 
second in profit. In the 1 minute I have to address this Congress, 
ExxonMobil will make $79,080 in profit. In 1 minute they will make more 
than most hardworking Americans make in a year.
  As consumers are being gouged at the pump, Big Oil runs the 
administration, bringing us war and environmental disaster and economic 
decline. Oil was at about $23 a barrel at the start of this 
administration. Now it is at $74 a barrel. If this administration goes 
ahead and attacks Iran, it will go to $130 a barrel and about $5 a 
gallon for gas.
  This Congress must do more than genuflect with tax breaks and 
subsidies to Big Oil. It is time we took the side of the consumers 
whose budgets are being crushed and mobility being crushed by $3 a 
gallon gas. It is time for a 100 percent excess profit tax on the oil 
companies. That is what my bill, H.R. 2070, does. It will lower the 
price of gas because it will tax excess profits of oil companies and it 
won't increase the price of gasoline.
  My minute is up, but the oil companies' profits are eternal, unless 
we stop the price gouging with a 100 percent excess profits tax.

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