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Oil Execs Asked to Justify Huge Profits at Congressional Hearing

The executives of the five biggest oil companies— Exxon Mobil, Royal Dutch Shell, BP, ConocoPhilips and Chevron—were called to testify at a congressional hearing on Tuesday. Lawmakers took them to task for making enormous profits but investing next to nothing in renewable sources of energy. They were also called to justify why they got $18 billion in tax breaks last year when their profits had hit $123 billion and oil prices had reached runaway highs.