Christmas in July for oil companies, says Sen. Schumer
Senator Charles Schumer (D-N.Y.) says it is Christmas in July for big oil companies thanks to their record profits. Schumer says he is not shocked by the profits but is shocked about how they are spending it. Schumer says that big oil companies are using their profits to buy back their stocks to increase share prices. (0:44)
July 31, 2008
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