House Democrats are turning up the pressure on oil companies as high gas prices continue to hurt drivers, with a congressional hearing planned for April to question oil executives.
, according to AAA – Democrats have sought to turn the attention away from Biden and place the blame first on Russian President Vladimir Putin and now on big oil companies.
"We go after corporate America because corporate America is often profiteering," said Jayapal, the chair of the House Progressive Caucus, which counts Squad reps as members. Andrew Gross, an AAA spokesperson, said in a statement that the cost of oil accounts for about 50% of what drivers pay at the pump, but says "this war is roiling an already tight global oil market."Consumers are willing to pay a bit more the pump because of Putin's war in Ukraine and the U.S. banning Russian oil imports, but Jayapal said it's time to "hold these oil companies accountable" for profiteering at this "terrible moment of war.
The hearing will take a look at why oil companies are sitting on thousands of permits but not drilling. The committee says fossil fuel companies hold more than 9,000 approved, but unused permits for drilling on public lands and waters.
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