“I am outraged that Pennsylvania families are forced to struggle with rising gasoline and home energy costs, while Exxon’s chairman Lee Raymond is being given a nearly $400 million retirement package.  This comes on top of the fact that as Pennsylvanians are paying nearly 25 percent more for a gallon of gas than last year, Raymond’s paycheck topped $50 million in 2005. This is not only outrageous – it is flat out wrong,” said Rep. Schwartz.

“Families are being gouged twice on energy costs. First at the pump and in their home energy bills, and secondly by the use of their hard-earned tax dollars being given away to the oil and gas industry – the same industry that made billions in record profits last year,” added Schwartz.

In August 2005, President Bush signed into law a Republican energy bill that was laden with giveaways to the oil and energy industry. Despite record energy company profits, the bill contained $2.6 billion in tax breaks and cuts for the oil and gas industry. Last year Exxon reported a record $36 billion in profits.

“The energy bill was a missed opportunity to end our country’s dependence on foreign oil. Rather than put forth a real plan to move America towards energy independence, the Republicans used it as a taxpayer giveaway to some of the richest companies in America,” said Schwartz.  

“American businesses have a right to earn profits on the products they sell, and their employees have the right to just compensation, but it is beyond belief  that consumers have to struggle with near $3 a gallon gas prices at the same time that an energy company chairman is given a $398 million golden parachute,” said Schwartz.

Rep. Schwartz has led several Congressional efforts during the past two years concerning American energy issues. Schwartz mounted a successful effort last year requiring the federal government to investigate energy price gouging. Schwartz has repeatedly called for America to lessen its foreign oil dependence and move towards greater use of cleaner and more efficient energy sources.

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