"Leaders of Exxon Mobil, Chevron and four other companies testified about gas prices before a House committee on Wednesday."
"WASHINGTON — Amid a swirl of partisan finger-pointing on who is responsible for rising energy prices, executives of six large oil and gas companies defended themselves on Wednesday against criticisms that they are seeking to boost corporate profits by refusing to produce more oil and gas.
They appeared before a House committee as high gasoline prices have become a central issue ahead of the midterm elections in November. Republicans have blamed Biden administration regulations and environmental policies for shortfalls in energy production, while Democrats have questioned why companies could not lower gasoline prices as oil prices have eased somewhat since a spike after Russia’s invasion of Ukraine.
Trying to duck the political debate, the executives said they were not engaging in price gouging and were merely responding to global commodity prices that were out of their control. They also said they were working to shift to cleaner energy.
“We are here to get answers from big oil companies on why they are ripping off the American people,” said Representative Frank Pallone Jr., a New Jersey Democrat and chair of the Energy and Commerce Committee, during the hearing. “At a time of record profits, Big Oil is refusing to increase production.”"
Annie Karni and Clifford Krauss report for the New York Times April 6, 2022.
SEE ALSO:
"Democrats Grill Oil Executives On Gasoline Prices" (E&E News)
"Democrats Grill Fossil Fuel Executives About Price-Gouging" (HuffPost)
"Big Oil Companies Are Using Wartime Profits To Enrich Investors, Report Says" (Washington Post)
"House Panel Grills Oil Company Executives On High Gasoline Prices" (Washington Post)
"Cantwell Mulls Enron-Like Transparency Mandates For Petroleum" (E&E News)
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