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.
The national average gas price was $4.16 a gallon for regular on Wednesday, up from $2.87 a year ago, according to AAA.
Noting that prices were increasing before Russia invaded Ukraine in late February, McMorris Rodgers said Americans “are too smart and have not fallen for this” claim by Biden and other Democrats. She called the hearing “purely political.” Rep. Kim Schrier, D-Wash., said gas prices are close to $5 per gallon in her Seattle-area district. Her constituents “are mad, and they should be,” she said, citing the record profits oil companies are reaping.
Biden has called on Congress to impose financial penalties on companies that lease public lands but don't produce oil, a request that so far has been ignored. Biden also invoked the Defense Production Act to encourage mining of critical minerals for batteries in electric vehicles, part of a broader push to shift to reduce use of fossil fuels and address climate change.
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