US senators grill oil executives over profits, prices

11/21/2005
Five major oil company executives faced sometimes hostile questions about the relationship of record third-quarter profits to dramatically higher product prices during a Nov. 9 joint hearing of two Senate committees.ExxonMobil Corp. Chief Executive Lee R. Raymond, Chevron Corp. Chief Executive David J. O’Reilly, ConocoPhillips Chief Executive James Mulva, BP America Inc. Chief Executive Ross Pillari, and Shell Oil Co. Pres. John Hofmeister testified. More than 20 senators asked questions following statements from executives to the combined Energy and Natural Resources Committee and Commerce, Science and Transportation Committee.Additional testimony came from Federal Trade Commission...
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