The Senate Finance Committee will hold a hearing called "Oil and Gas Tax Incentives and Rising Energy Prices". Why does gas need to cost $4plus/gallon? Do these big oil companies deserve tax breaks and subsidies? CNN's American Morning speaks with Jack Gerard: President and CEO, American Petroleum Institute and Sen. Robert Menendez (D-NJ) who says it is vital to cut oil subsidies.
We are already paying right at 4 dollars a gallon for gas–my question is–how much did this appearance before the Senate cost us honest, hard working Americans–