OIL PROFITS

PROFITS

Two top Washington officials differ on how the major oil companies should use their record profits. Senate Finance Committee Chairman Charles E. Grassley is urging the oil companies to contribute 10% of these profits to funds operated by the states and utilities to help low income families pay their utility bills over the winter.

Energy Secretary Samuel W. Bodman, opposes the idea because he says its too much like a tax. He would prefer the companies use the money more for exploration, drilling and contribution to the Strategic Petroleum Reserve.

You'll notice under his plan, the only ones who benefit are the oil companies and the Federal Government.