WASHINGTON, D.C. - As oil companies report first quarter profits, Rep. Peter Welch (D-Vermont) took to the House floor May 5 urging Congress to repeal federal grants to the oil industry. Just last week, Exxon Mobil reported profits of nearly $11 billion in the first three months of the year, a 69 percent increase over last year.
"While oil companies are doing quite well, Vermonters are not. They simply can't afford to fill their gas tanks," Welch said. "Congress should be taking steps to cut gas prices, not look the other way while oil companies line their pockets with taxpayer support."
Welch has been working on multiple fronts to provide relief to strapped consumers.