executives from exxon mobil, chevron, shell and b.p. are expected to attend the hearing. a 24-hour general strike in greece turned violent today, as workers protested the government's austerity plans. riot police used tear gas and stun grenades to break up mobs in central athens. workers are furious over planned wage cuts for public sector workers, and other spending reforms. greece's economy is in bad shape and will probably need a second bailout after burning through $158 billion in loans from the european union last year. an unusual turn today at the annual meeting of phillip morris-- the tobacco giant's c.e.o. said that while cigarettes are addictive and harmful, it's not that hard to quit smoking. louis camilleri's comments then were blasted by the campaign for tobacco free kids as an irresponsible form of corporate double-speak. after the meeting, the company repeated only camilleri's claim that "tobacco products are addictive and harmful." in tonight's "money file," separating fact from fiction when it comes to social security. here's eric schurenberg, editorial di

>>pam: democrats have their own show with the exxon mobile is the most fortunate profitable-fortune 500mber three making 90 billion >> of the americans are paying it that americans oil profit. >>pam: the subsidy is saying that it will save the tax measures going towards reducing the deficit. the idea has no chance for approval by the republican controlled house. that did not stop the senate finance committee from calling in an executive of the top five oil companies. >> is it wise to continue these tax breaks the largest companies every year? >>pam: the unanimous answer was good for big oil is good for america. >> raising taxes will lead to less investment, less production and most likely higher costs per gallon. and less employment. >>pam: for one thing is cutting the subsidy will not reduce prices at the pump. >>catherine: new york city mayor says that they have thwarted an attempt on the senate cuts. they arrested two men in a sting operation. if with attacking-synagogues. if the rising mississippi is still causing problems federal engineers are moving closer to making a top decision

today the powerful senate finance committee called the heads including chevron and exxon mobil to testify about their gas prices and profits, the highest ever. they want the companies to give up billions of dollars in special tax breaks and use the new tax revenue to pay down the national deficit. >> businesses should, of course, make a profit. that is the american way, that drives our economy, but to these very profitable companies actually need tax pair subsidies. >> oil companies say the subsidies are critical and claim the business taxes are higher than ever. they pay more in u.s. taxes than any other company in the nation. they say tax breaks will help them stay competitive. >> overseas companies with lower tax obligations can outbid us. unfortunately this impact u.s. jobs. >> today's hearing is not expected to change anything at the gas pump and in the end, senator orrin hatch even says if they are revoked he doubts the new revenue will be used to pay down the deficit. >> if they raise these taxes congress will spend every dime of it. it won't go down to pay down the deficit. >> if

today the powerful senate finance committee called the heads including chevron and exxon mobil to testify about their gas prices and profits, the highest ever. they want the companies to give up billions of dollars in special tax breaks and use the new tax revenue to pay down the national deficit. >> businesses should, of course, make a profit. that is the american way, that drives our economy, but to these very profitable companies actually need tax pair subsidies. >> oil companies say the subsidies are critical and claim the business taxes are higher than ever. they pay more in u.s. taxes than any other company in the nation. they say tax breaks will help them stay competitive. >> overseas companies with lower tax obligations can outbid us. unfortunately this impact u.s. jobs. >> today's hearing is not expected to change anything at the gas pump and in the end, senator orrin hatch even says if they are revoked he doubts the new revenue will be used to pay down the deficit. >> if they raise these taxes congress will spend every dime of it. it won't go down to pay down the deficit. >> if

of exxon mobil. mr. watson, why d't you begin? you probably know our customary procedure here is have your statements included in the record. if you could summarize, around five minutes. thank you very much. mr. watson? >> mr. chairman, ranking member hatch and -- half and members of the committee. i am john watson, chairman and chief executive officer of chevron corporation. fortunately, our nation is endowed with adunn ant supplies of energy including oil and national gas. each time we come to capitol hill we advocate for measures that would better helm develop our oil supplies. it's one of the most effective ways to counter rising energy prices and stimulate economic growth. tax increases on the oil and gas industry, which wi result if you change long-standing privesings in the tax code, will hinder energy supplies and it will also mean fewer dollars to state and federal treasuries and fewer jobs all at a time when our economic recovery remains fragile. becae my time is limited i'll make three points. first, the oil and gas bus

calling for an end of billions of dollars in tax breaks for oil companies, executives from shell, exxon mobil and conoco phillips are scheduled to testify. they say they pay more in u.s. taxes than people realize. objection on says it's paying, property, state and state and gasoline taxes and that adds up. the company estimates it only makes 9 cents of every dollar of sales where pharmaceuticals and computers make twice as much. they are calling an end for the tax breaks but oil companies say it could discourage investment and led to higher gas prices. gop leaders agree that it would increase dependence on foreign competitors. the average right now is 3.98. here in california it's 4:25. >> it's 4:36. >> a.c. transit riders will see fare increases. yesterday they voted to raise regular fares by a dime. in addition senior and disabled fares will increase by five cents. district officials say the increase is a small portion of what it needs to reduce the projected $20 million deficit in the next fiscal year. so another round of service cuts will likely be seen. >> and weather forecast time coolo

exxon mobile ceo, rex came in at no. 18. compensation of $21.5 billion.ther executives were james hackett. and james of conoco phillips who just spoke he makes $18.8 million and 171 9 billion respectively. (music) >> jacqueline: is a bit breezy this afternoon but not too bad. , they're going to cool down a bit. still sunny skies and a mild afternoon. with clear skies and the fog is completely gone. perhaps you noticed it? that sunshine. temperatures a bit cooler tomorrow as we see clear skies. in the afternoon, the wind will pick up but temperatures on the mild side just a few degrees cooler depending on your location. temperatures in neighborhood by neighborhood 70 and santa rosa. 69 in vallejo, 61 in santa rosa. hello 67 degrees and san jose. denied degrees in half moon bay. and 60s 59-in half moon bay. your kron 4 7 day around the bay the rainfall is getting closer and more definitive as we go towards this weekend. late saturday and early sunday morning but it will impact the race than the cooler temperatures for sunday bayto breakers.ing.com into the

of exxon mobil. mr. watson, why don't you begin? you probably know our customary procedure here is have your statements included in the record. if you could summarize, around five minutes. thank you very much. mr. watson? >> mr. chairman, ranking member hatch and -- half and members of the committee. i am john watson, chairman and chief executive officer of chevron corporation. fortunately, our nation is endowed with adunn ant supplies of energy including oil and national gas. each time we come to capitol hill we advocate for measures that would better helm develop our oil supplies. it's one of the most effective ways to counter rising energy prices and stimulate economic growth. tax increases on the oil and gas industry, which will result if you change long-standing privesings in the tax code, will hinder energy supplies and it will also mean fewer dollars to state and federal treasuries and fewer jobs all at a time when our economic recovery remains fragile. because my time is limited i'll make three points. first, the oil and gas

running our way to exxon mobil to the largest petrochemical facility in the united states. petrochemical companies in the easy on him. killing more than one hundred thousand people. there's a lot of folks who are good neighbors but there is this percentage of folks that are really bad neighbors and it really ruins people's lives literally because they aren't obey him along. with. a chemical worker told me when he would come home with his clothes would smell he tells children that was a small money. yes it is jobs but we care about the workers to need to have a safe job. it is hard when people are worried you know where is my next paycheck and a column from my paycheck is coming from that company we are very a tune and try to help people who want to do something but they can only do so much and that and there's no judgment there i mean this is supposed to be about helping people and not not harming anybody. this is going to harm my job is going to harm my husband or wife struck or you know will my people in the community look at me differently or they think i'm a crazy envir

but following the retail giant, in revenue, not surprisingly, are three oil companies, exxon mobil, chevronnd conoco phillips. exxon was the most profitable company on the fortune list. >>> just in time for the prime home buying season, mortgage rates are at their lowest level on the year. the average rate for a 30-year fixed rate loan is 4.71%. that's the same as back in january. it's not as low as it was in november, which was the all-time low record. >>> usda says that americans spend half of their food budget in restaurants. among the factors, how much parents worked, their schedules. also, this surprised some of the researchers, how much dad eats out. fathers should be encouraged to eat healthier and also maybe eat at home. >>> here's proof, now, that elvis really has left the building. for the first time in more than half a century, elvis not among the 1,000 most popular baby names. jacob, actually, is the most popular boys name. isabella is for the girls. your little one's name. >> that's my little lady. i never considered elvis, though. maybe throwing that around for our little guy.

. >> tom: oil giant exxon mobil is shutting and emptying some of its oil pipelines in louisiana on increased concerns about the mississippi river flooding. it comes as the army corps of engineers decides sometime this weekend whether to open up part of the mississippi river. if the morganza spillway in louisiana is opened, it will inundate hundreds of thousands of farmland acres and swamp thousands of homes. but it would spare larger cities like new orleans and baton rouge. swollen by weeks of heavy rain and melted snow, the mississippi river has been breaking high- water records. an insurer's research group predicts this flood will go down in history as a multi-billion dollar catastrophic event. a full damage assessment cannot be made until the water has receded in many places. >> susie: bats global markets filed to go public today and already there's speculation that this upstart electronic exchange operator could be a takeover target. the i.p.o. comes at a time of big mergers between global stock exchanges. but bats, located in kansas isn't as well known as its larger rivals like the nyse

shares of exxon mobile is one of the biggest losers. a $7 a barrel. we're one defendant today published people bought in the month of april. rereleasing in the april retail sales this morning. the labor department is reporting about 40 minutes ago, a sharp drop in the number of americans that are falling for and employment. >>darya: 612 they will be back with more of a couple of months and do not go away. here is a view of the nets have it. the < < the battle will come back city governor. they are urging people to get out if they think there is a chance here husses inundated with water. you can see the water racing. this video that we are looking and is an expert. the back yards are flooded. the streets look like rivers. there are high alert for more flooding as well. 60 homes have been flooded in the delta and the past several days. water has risen towards the highest levels on record. another piece of the we have it is where they are trying to hold back the river. you can see crews building a levee. it is expected to push back it passed the delta ne

the top execs from exxon mobil, shell, b.p., chevron and conoco phillips all came before a congressional committee. >> tom: those oil companies went on the defensive, thanks to a democratic effort to repeal their tax rates. republican senators were quick to point out that changing the tax rates of big oil companies wouldn't help the country's debt problem. and as darren gersh reports, the hearing was contentious and, mostly, political theater. >> reporter: the oil executives took an aggressive stance, vigorously defending what they pay in taxes, saying the tax breaks they get are the same ones given to other manufacturers. >> singling our five companies because of their size is more troubling. such measures are anti- competitive and discriminatory. don't punish our industry for doing it's job well. >> reporter: in the first quarter, the major oil companies did very well, earning $35 billion in profits! when these companies testified together before congress in 2005, oregon's ron wyden asked if the industry needed incentives to drill and the companies answered no. today, he repeated the q

expected this morning to grill top executives from chevron, shell, conoco phillips, bp america, and exxon mobil. the so-called big five receive billions of dollars in subsidies every year. but now some lawmakers want that to stop. so do drivers paying top dollar at the pump. >> feels like we're getting gouged. >> i don't think they've done anything for us except taken our money. >> reporter: senate democrats have introduced the bill they say would lower the federal deficit by repealing $21 billion in tax breaks over ten years. but republicans and even some democrats argue that's not the answer. they fear taxing the oil companies will only end up hurting consumers the most. >> higher gas prices, fewer american jobs, at the expense of american energy, that's their plan? no thank you. >> reporter: the oil industry is also expected to come out swinging against the proposal. in a statement ahead of today's hearing, conoco's chief executive described the planned tax reforms as, quote, unprecedented and un-american. and the house passed the bill yesterday, requiring the government to act within 60 day

it's followed by three huge oil companies: exxon mobil, chevron, and conoco phillips, another example of how high energy prices are affecting things. and fannie mae leaps from 81st last year to number five this year, because of new accounting rules and a bailout from uncle sam. >> tom: federal prosecutors have trimmed down their case against financier allen stanford. eight charges have been dropped; 14 remain, including wire and mail fraud. the feds say stanford ran a ponzi scheme, funding a lavish style of yachts and private jets. stanford's lawyers say their client is innocent. he's currently at a federal prison in north carolina, the same prison that's home to bernie madoff. >> tom: it's something that happens to every parent. you're in the grocery store, your child has a tantrum, ranging from whining and crying to screaming and kicking. in tonight's "kids and cash" series, how to avoid those outbursts over something on the store shelf by teaching your children the value of money. here's alisa weinstein, author of "earn it, learn it." >> oh, the "gimmies." aren't they the best? you

of exxon mobil. mr. watson, why don't you begin? you probably know our customary procedure here is haveour statements included in the record. if you could summarize, around five minutes. thank you very much. mr. watson? >> mr. chairman, ranking member hatch and -- half and members of the committee. i am john watson, chairman and chief executive offir of chevron corporation. fortunately, our nation is endowed with adunn ant supplies of energy including oil and national gas. each time we come to capitol hill we advocate for measures that would better helm develop our oil supplies. it's one of the most effective ways to counter rising energy prices and stimulate economic growth. tax increases on the oil and gas industry, which will result if you change long-standing privesings in the tax code, will hinder energy supplies and it will also mean fewer dollars to state and federal treasuries and fewer jobs all at a time when our economic recovery remains fragile. because my time is limited i'll make three points. first, the oil and gas bus

in 2010, exxon mobil's total tax expense in the united stateswere were $9.8 billion. that's what they paid in taxes t 2010. that includes incomehat tax ex8 and 1.6 billion to 9.8 billion in tax has exceeded the 2010 u.s. operating earnings of seven and a half billion dollars. what we're saying they paid $9.8 billion in taxes. they only $ received 7.5 billion in terms of earnings from the united states.heir now why is that? is because 80% of operations or in other countries. c they are in 100 differentcharget countries. not one of the other countries churches taxes when they go offy shore. we are the only country -- irges believe are the only country tht that churches united states taxr on production that takes place in some other country. now for that reason, if you d single out -- if we tax like most people do it would be a tah credit and not a tax it all.thaf nonetheless, they were that year of $9.8 billion. year, that's 2010. operating the u.s. operating earnings were 2.6 billion. e more than $8 billion came from reerations in more than 100 countries worldwide. her

heavy industries in baton rouge, including exxon mobil's second largest facility in the country, worry that without some relief a rising, roaring mississippi would prove impossible to navigate, and force a suspension of barge traffic. so now we'll wait to see if opening the floodgates is the solution. but in the meantime, the river is rising. katie? >> couric: dean reynolds. dean, thanks a lot. you can expect victims of the flooding to apply for federal assistance, but listen to this. sharyl attkisson reports thousands of people who got federal money after past disasters are now being told they have to give the money back, because f.e.m.a. made a mistake. >> how the basement looked. >> reporter: christine holmquist's illinois home was damaged by severe flooding last year. >> this is how our entire basement looked. >> reporter: she was relieved when f.e.m.a. offered to kick in $5,400 for some documented damage not covered by insurance. >> the floor was completely full of water up to approximately this level. >> reporter: but seven months later, holmquist was shocked to open a letter fro

office supply company would hold its sales that would weaker than investors expectations chevron and exxon mobil among the top three blue chip advances as crude oil futures top one hundred dollars. and european equity markets finished higher both the footsie other dogs closed in the black in london lancet purities group was the top winner on the food scene gaining over six percent in germany dogshit tell a car was a cult gainer over one and a half percent. and here in russia both reality yes and my eyes it's closed in the black rebounding from a five month flow stocks were boosted by a series of strong earnings reports and high oil and that's prices now looking at some index movers on the my six recent history to make a service dollars. reported a five hundred thirty one million dollars profit for the first quarter above analyst paul cause natural gas producer notes i got a two point nine percent of it almost doubled year on year net profits in first quarter two wrong of a billion dollars and probably michael gained almost six percent supported by strong the precious metals prices. as all for me

weighed by energy stocks as the price of oil dropped below one hundred dollars a barrel oil giant exxon mobil and chevron apple shutting two percent among the gainers as whole foods market up one percent after its quarterly report all street's estimates he is europe where stocks ended thursday trading session mixed u.k. sportspeople over a percent banks were among the big losers with lloyds banking group pulling eight percent that's after the european central bank has held eurozone interest rates at one point one percent and the bank of england kept its interest rates steady at a record low of health to start and here in russia markets closed in the red for the r.t.s. dropped to its lowest level in five months we could come out of these. they're the index movers of allies x. with a bad day for the oil majors that again came under pressure from falling crude prices precious metals were also low point as gold lost nearly twenty five percent and to help the sad and construction group take the crop after the company reported losses of about one hundred ten million dollars for last year. that's al

the office supply company reported sales that we could then invest as expectations chevron and exxon mobil among the top three blue chip and balances escudo futures top one hundred dollars. and european equity markets finished higher as well. that puts another tax closed in the black in london land securities group plus the top where all the folks are getting up to six percent germany georgia telecom was the top gainer. over one of the sites here in russia probiotic yes and the my six closed in the black rebounding from a five month starts of boosted by a series of strong earnings reports and higher on the metal price it's now looking at some index movies on the rise it still has to like us or start as high after it reported as five hundred thirty one million dollars profit for the first quarter about analyst forecast natural gas producer novacek added two point nine percent after almost doubled here on your net profits in the first quarter to around million dollars and only metal gained almost six percent supported by stronger precious metals plus. representatives of the world's biggest i

third straight session with the price of crude pulling back to one hundred ten dollars a barrel exxon mobil and chevron are both down with the latter setting any two percent. european markets finished in the red on wednesday the footsie on the docks one point six percent the majors total and b. people fell in the week of market as opposed to top the losers list of the puts the shouting nine percent the world's largest primaries silver producer fresnel zero five percent but banks in portugal rallied on news of a bailout deal for the country also shares and b.m.w. rose by more than a percent on the back of strong profit results. and here in russia two main stock exchanges closed in the red on wednesday the end of two percent lower and the r.t.s. said one point three percent now looking at some of the individual movers on the rise six energy majors and metal miners were among the top losers on low commodity prices fell over four percent while point is gold going to st point three percent in the red while it's a row was up one percent. were already searching for correction what we've seen are a

the ceos of the five giant oil companies from exxon mobil to bp were called before congress to answer a question, should they get the big tax breaks even as their profits rise to the stratosphere? take a look. in the first three months of the year, these five companies made more than $34 billion in profit and that's up 42% from a year ago and that's a total of $379 million in profit every single day. and that was the number in the room when john karl was there, watching the punches and counterpunches. tell us about it, john. >> reporter: those ceos ran into a buzzsaw of congressional outrage over gas prices, profits and tax breaks. with skyrocketing gas prices, come soaring profits for the oil companies, and uncomfortable questions about the billions of dollars in tax breaks they receive. just a break question, do you need the tax breaks? >> we're not doing interviews. >> reporter: with the profits, can you explain why you need the tax breaks? >> we're late for a meeting. >> reporter: but before the senate finance committee, they had to answer questions and take a beating. >> i think

for a first rate session with the price of crude falling back to one hundred ten dollars a barrel exxon mobil and chevron will give the ground. european markets finished in the red on wednesday probably out yes both of which see and ex-pro one point six percent majors total and b.p. both market as a pastor said nine percent on the footsie after the company said first quarter results missed its target but banks in portugal rallied news of a bailout deal for the country also shares in b.m.w. rose by more than a percent about. strong profit results. here in russia two main stock exchanges closed in the red being nice extended two percent lower and the odds he has said one point three percent now let's look at some individual movers on the night six energy majors and metal miners were among the top losers commodity prices fell over four percent while totus gold finished three point three percent in the red and into raw gains one percent. of the business we have for you but you could always find most always just what's called. i am. going to. to. if. for. a moment when the world has changed foreve

you can buy those futures on even traded markets exchange markets but you know if i buy stock in exxon mobil and or if i buy stock in microsoft and that stock drops twenty thirty percent it doesn't make any difference i mean as an investor i lose some money but it doesn't make any difference fundamentally in the world or if the price that stock goes up thirty percent it doesn't make any difference to the to the world when the price of food and oil goes up people die shouldn't these commodities be separated from stocks as they were for the previous from one hundred thirty five until one thousand nine hundred nine during that period of time where if you bought a commodity feature you actually had to take the liberty of it so the only people speculating in commodities were the people who were actually going to use them. i don't think that's necessary overall it would make the market less able to to correctly stop which as you saw a less meek and courteous order of the major way with prices so it would have a volatile in the first place. possibly not but one of the things of the ending to the vo

exxon mobil, chevron, b.p., royal dutch shell and conoco phillips earned a total of $35 billion at a quarter this year at a time gas prices were heading ever closer to $4 a gallon. at a cbs news town meeting at the newseum in washington, president obama was asked about what can be done about high gas prices. >> by making our energy usage more fuel efficient, particularly in the transportation sector, that will bring demand down, and that will bring prices down. but there's no single silver bullet. we're going to have to do efficiency, we're going to have to do alternative energy, we have to develop electric cars that can be cheaper and those are all things we've been investing in over the last two years, which is why it's going to be important for us to continue making those investments in the years to come. >> couric: meanwhile, the c.e.o.s of those five oil companies we mentioned appeared before the senate finance committee today. democrats on the panel want to know why the companies should continue to get tax breaks when they're making such big profits. nancy cordes is our congres

three other oil companies exxon mobil, chevron, fannie mae rounds out the top five.e will be right back. ♪ let's go out to the dmv ♪ it's ok that we're number four hundred and three ♪ ♪ we'll find ourselves a comfy seat ♪ ♪ and watch some shows and stuff ♪ ♪ ♪ let's follow that lady with the laptop ♪ [ male announcer ] now you can watch hit tv shows on your laptop with u-verse online and on your smartphone with u-verse mobile, included with most plans. or get u-verse tv for as low as $29 a month for 6 months. in the network you can take entertainment with you. >> mark: workers entered a reactor building that was damaged at the nuclear plant for the first time since yours quicken tsunami. workers installing six ventilation machine an attempt to absorb radiation from the air. [ male announcer ] hi lauren and greg, what's up? we're getting the day started with athenos greek yogurt. later we're gonna ride bikes and go to the -- [ male announcer ] wonderful! let's see what yiayia thinks. are you two married? um, no. but you living together, ah? yeah. you are going to hell

of chevron royal dutch shell exxon mobil another private companies because they're a lot harder to deal with the national companies like the mexican but as oil and saudi and so it was to stabilize one of the greatest resources in the world in terms of nonrenewable thoughts of fuels incidentally iraq report last week came out saying one hundred billion barrels is the low estimate two hundred billion is the medium estimate and in their wildest dreams maybe three hundred billion barrels this door of saudi arabia now he's own government will never reach it because of political reasons but has a seven year plan to be at thirteen point five million barrels per day productive productive capacity says this is chiefly produced by the way saudi arabia is that it is really hard of the contracts are being let right now to try and build three refining facilities in iraq so that they don't have to have the middle man this is a very lucrative area it was a larry klayman it was originally called operation iraqi liberation i've got some tape right here someplace of the presidential press secretary sayin

they've been able to do this they've just launched this massive campaign especially companies like exxon mobil who is an oil company. launched math of this information campaign they're taking these tactics from what used to be the anti-smoking campaigns way back in the fifty's and indeed they are in fact and back in the fifty's there was nobody pushing back or back in the fifty's you had ronald reagan in a doctor's coat going on television saying if you have a sore throat for paul there that you know the more doctors use them for sort of. if. i'm guessing that your presence and the presence of other people sort of push back is starting to have an effect on light back in fifty's. and i mean that's what we're hoping is that people are really waking up to this i mean especially coal in general because so many people live near coal power plants if you go to the website and you actually look at the map you can find out where there is a coal plant near you and chances are it's closer than you think and people are just done they don't want to take this anymore and so either you can write letters your

third straight session with the price of crude falling back to one hundred ten dollars a barrel exxon mobil and chevron are both round with the latter shedding percent. and european markets finished in the red both the algiers and the dax well one point six percent on wednesday all majors total and b.p. both fell on the week of world market rounds of the top losers list of footsie shedding nine percent and the world's largest promise of a producer prisoner low dropped over five percent but banks in portugal rallied on news of a bailout deal for the country also shares in b.m.w. rose. and more than a percent on the back of strong profits results. and a russia's two main stock exchanges close in the red on wednesday being my six and a two percent lower and the r.t.s. and the one point three percent looking at some of the individual movers on the energy majors and metal miners were among the top losers on low commodity prices fell over four percent goes hellish three point three percent in the red. and black person. that's all for now on the back with more in less than one hour from. wealthy b

you're an average american out there working hard you're paying a much higher tax rate actually an exxon mobil which is the world's most profitable corporation right now so i think when we talk about what's american what's what's american soccer pricing for right here making sure your countrymen aren't paying certainly. prices and also just giving back you know making sure that you live in a great country not just be considered totally with your profit so instead what they're doing is we heard more threats today saying you know if you want to come out as they know we will just move elsewhere will go overseas that means they were jobs created here at home and that means that you know the entire idea of trying to be less dependent on foreign oil you can kiss that goodbye but you know let's talk about the amount of money going on here each one of these big five oil companies spent at least you know nine to ten to twelve million dollars a lobbying congress so do you think that that's a there's no way we can win you know i mean it's not only the lobby those are important but it's also important tha

in the case of exxon mobil that your federal tax rate is substantially is three percent lower than what the average individual federal tax rate is to zap me don't you think you do you think that. your so it city is more important than the financial aid we give to students to go to college could you answer that yes or no that somehow the loss of two billion dollars a year which means you only make one hundred twenty three dollars one hundred twenty three billion dollars in profits is somehow so proficient somehow not part of shared sacrifice somehow you need to go back at them at the pump to make up for it it's hard to understand it is hard to understand i really based on there you'd think that our lawmakers would get to work cutting off those subsidies immediately when in the truth you're just watching the show a show worthy of an oscar nomination or the lawmakers pretend to express outrage over the behavior of corporate giants in america and these corporate giants play the role with feigned regret some nice sound bites are made for the media public is satisfied with it seems like peopl

in 2010, exxon mobil's total tax they expense in the united states for taxes $9.8 billion. that's what they paid in taxes in 2010. that includes income tax six and in more than 1.6 billion. the 9.8 billion in taxes 201 exceeded the 2010 u.s. operating earnings of $7.5 billion.hey what we are saying is they paid $9.8 billion in taxes. they only b received 7.5 billion in terms of earnings from the united states. now why is that? is because about 80% of their operations are in otherther countries.hen the third 100 different countries. not one of the other countries charges taxes when they go off shore there. we are the only country thattes charges the united states tax on oth production that takes place in some other country.st singl now for thate reason, if you taxnot a t them like most people do it would've been a tax credit and i taxol. b nonetheless, they were yea accountable for paying taxes byuring year's $9.8 billion. a look at this year was 2010. our during the first quarter of this this partular year u.s. operating earnings quarter o that this figure company were 2.6

exxon mobil weighing on things today. a big drop in crude oil prices. losses for legg mason. said costs tied to its bond unit are expected to rise by $74 million this fiscal year. legg mason was downgraded by analysts this morning. i'm jane king for wbal-tv 11 news. >> many of us have laptop computers and use them every day. if your laptop becomes too hot, that is not something you want to ignore. >> a laptop case gets so hot that it can cause a serious problem. >> i opened the door, the smoke billowed out. >> bill hughes will never forget that day. a fire was burning inside his home. he and his wife lived out of a hotel room while repairs were made to was home. >> it was in extremely stressful situation. >> a laptop computer caused this fire. >> i never thought it could start a fire. >> what do investigators have to say about this fire? i will of that investigation tonight at 11:00 p.m. >> 47 degrees on tv hill. >> talk about a turnaround. keith mills tells us how a picture puts his name in the record books. >> here is a look at last night's winning maryland lottery numbers.