For 297 days, the GOP has refused to act on Americans’ top priority – job creation – but they have been quite busy passing dead end Drill-Only energy bills and protecting tax breaks for Big Oil, one of the most profitable industries in the world. From AP:
Chevron Corp.’s quarterly profit more than doubled as a jump in petroleum prices made up for declining production.
Chevron, the second-largest U.S. oil company after Exxon Mobil, said Friday that oil prices soared 41 percent in the U.S. and 47 percent internationally. Natural gas prices also rose.
The third-quarter results mirror other oil giants that reported earlier this week. Despite lower oil production, Exxon Mobil’s net income rose 41 percent while profits doubled for BP and Royal Dutch Shell.
Chevron, based in San Ramon, Calif., reported net income of $7.83 billion, or $3.92 per share, for the quarter. That compared with $3.77 billion, or $1.87 per share, a year earlier. Revenue rose 26 percent to $61.3 billion. [10/28]
With Americans already facing high prices at the pump, will the GOP turn off the spigot of taxpayer dollars flowing to our largest oil companies? It’s time for Republicans to stop protecting special interests and join Democrats to defend the public interest. We must work together to create jobs, strengthen our middle class and small businesses, and grow our economy.