Democrats accuse oil companies of 'rip off' on gas prices
ABC News
House Democrats are accusing oil companies of “ripping off the American people” and putting profits before production as Americans suffer from higher gasoline prices amid the war in Ukraine
WASHINGTON -- House Democrats on Wednesday accused oil companies of "ripping off the American people” and putting profits before production as Americans suffer from ever-increasing gasoline prices amid the war in Ukraine.
"At a time of record profits, Big Oil is refusing to increase production to provide the American people some much needed relief at the gas pump,” said Rep. Frank Pallone, D-N.J., chairman of the House Energy and Commerce Committee.
Oil executives, testifying before Congress for the second time in six months, responded that oil is a global market and that oil companies don’t dictate prices.
“We do not control the market price of crude oil or natural gas, nor of refined products like gasoline and diesel fuel, and we have no tolerance for price gouging,” said Chevron CEO Mike Wirth.
