Exxon Mobil CEO warns against congressional Democrats' plan to end industry tax breaks

Exxon Mobil CEO warns against congressional Democrats' plan to end industry tax breaks. Exxon Mobil CEO is obviously greedy to the point of stupidity.--Buzzflash

By Mark Jewell

ASSOCIATED PRESS

2:05 p.m. November 30, 2006

BOSTON – Proposals by congressional Democrats to eliminate oil industry tax breaks and subsidies would set a bad example overseas and discourage new industry investments, Exxon Mobil's top executive said Thursday.

Rex W. Tillerson said moves suggested by leaders of the incoming Democratic congressional majority would encourage similar steps by governments abroad, where Exxon Mobil Corp. generates the bulk of its profit.