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taxesf more than other highly profitable companies. the worldwide effective tax rate for our industry in 2010 was 40%. higher than the u.s. statutory rate of 35% and rate of manufacturers of 26.5%. executives deflected numerous attempts to tie them to $4 a gallon gasoline. saying that the crude oil prices in the middle east and commodity trading determine gas prices they returned fire at the democratic accusers saying there is plenty of domestic oil if only we could drill it. we have over 400 leases in alaska that are idle, waiting for permission to move forward. put us back to work and give us access to the land. put people back to work. that exchange offered max baucus to offer something for oil executive saying we ll give more leases to you if you give up your tax subsidy so far no, deal. bret: thank you. crude oil futures added 76 cents overnight to settle at

Tax rateStatutory rate126 5Gas pricesCrude oil pricesGallon gasolineCommodity tradingMiddle eastAoil executiveBret baierCrude oilTax subsidyMax baucus