Originally posted on Grist:
In an appearance before the Senate Finance Committee tomorrow, the CEO of Continental Resources will argue for preserving the billions of dollars in tax subsidies the federal government provides to oil companies each year. Given that Continental Resources bills itself as “America’s Oil Champion” (after, we assume, a difficult championship battle), the CEO’s stance probably comes as no surprise. In fact, it’s hard to figure out why the Senate’s even bothering to hear from him, when a large blinking sign reading MORE MONEY PLS would be functionally equivalent.
But the CEO of Continental Resources, one Harold Hamm, isn’t just another energy executive. He’s also chair of Mitt Romney’s energy advisory team. The Hill got a copy of his planned testimony, in which Hamm declares that “[t]he tax provisions that let us keep our own money to reinvest in drilling are crucial to keep this energy revival going.” More directly, Hamm implies that ending the subsidies would “slow down, if not stop, America’s march to energy independence.”