The first law of holes is, when you're in one, stop digging. Right now, our country is a hole when it comes to jobs. But the Republican solutions just amount to more digging.
The Republican plan is to provide continued tax breaks and special deals for the fossil fuel industries. But while there have been new technological developments that are nowi allowing us to access new forms of oil and gas resources, the fact is increased productivity in those 19th Century energy industries often comes from eliminating jobs.
Today, I am releasing a Democratic staff report that shows that Big Oil is doing exactly that -- eliminating jobs -- despite booking record profits.
Despite generating $546 billion in profits between 2005 and 2010, ExxonMobil, Chevron, Shell, and BP combined to reduce their U.S. workforce by 11,200 employees.