Both the Senate and the House are calling executives from the nation’s largest oil and gas companies to testify, saying the industry isn’t passing the benefits of record profits on to consumers at the pump.
“I remain concerned that the oil industry is not doing enough to protect American consumers from rising gas prices,” Representative Raul Grijalva, chair of the House Natural Resources Committee, wrote to company executives in a letter sent Friday.
The committee is requesting testimony from executives from EOG Resources Inc., Devon Energy Corp. and Occidental Petroleum Corp. for a planned April 5 hearing to “examine the fossil fuel industry’s failure to help stabilize American gasoline prices.”
The Senate Commerce Committee is planning a hearing, “The Corrosive Effect of Elevated Petroleum Prices on American Commerce and Consumers,” that will focus on pump prices, according to a letter seen by Bloomberg News and sent by Senator Maria Cantwell, the committee’s chair. Among the witnesses being sought is Exxon Mobil Corp. Chief Executive Officer Darren Woods, according to the letter.
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