Oversight of the Bush Administration's Energy Policy - Select Committee on Energy Independence and Global Warming - 2008-05-22 - As oil and gas hit new records above 34 a barrel and .81 this week, many analysts are predicting even further increases in the price of gasoline as we edge towards the travel months of summer. To explore the Bush administration's contributions to this energy crisis and the administration's refusal to respond, Chairman Edward J. Markey (D-Mass.) and the Select Committee on Energy Independence and Global Warming held a hearing with Secretary of Energy Samuel Bodman. The Select Committee asked Secretary Bodman questions on gas prices, the Strategic Petroleum Reserve and the Bush administrations continued defence of the 8 billion in tax breaks the top five most profitable oil companies continue to receive. House Democrats want to redirect these tax breaks in order to fund renewable energy that could help consumers. Video provided by the US House of Representatives.
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