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WASHINGTON, DC - May 12: Surrounded by aides, Chairman Max Baucus, D-Mont., and ranking member Orrin G. Hatch, R-Utah, prepare for the Senate Finance hearing hearing with John Watson, chairman and CEO of Chevron Corp.; Marvin Odum, U.S. President of Shell Oil Co.; James Mulva, chairman and CEO of ConocoPhillips; H. Lamar McKay, chairman and president of BP America Inc.; and Rex Tillerson, chairman and CEO of Exxon Mobil Corp.; on oil and gas tax incentives. (Photo by Scott J. Ferrell/Congressional Quarterly)

WASHINGTON, DC - May 12: Surrounded by aides, Chairman Max Baucus, D-Mont., and ranking member Orrin G. Hatch, R-Utah, prepare for the Senate Finance hearing hearing with John Watson, chairman and CEO of Chevron Corp.; Marvin Odum, U.S. President of Shell Oil Co.; James Mulva, chairman and CEO of ConocoPhillips; H. Lamar McKay, chairman and president of BP America Inc.; and Rex Tillerson, chairman and CEO of Exxon Mobil Corp.; on oil and gas tax incentives. (Photo by Scott J....
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