Dan Eberhart, CEO of Canary Drilling Services, says oil producers want to drill more in Texas and North Dakota to increase production, but that the Biden administration’s policies have been “completely headwinds.”
CEOs from some of the biggest companies in the country oil Companies agreed to testify before House Lawmakers next week about record gas prices.
The House Energy and Commerce Committee said on Tuesday that executives from BP America, Chevron, Devon Energy Corp., ExxonMobil, Pioneer Natural Resources and Shell USA will participate in the House hearing.
Gas prices were published at the United Oil gas station in Los Angeles on March 23, 2022. (AP Photo/Damian Dovarganes)
The House Energy and Commerce Committee will hold a hearing. Its president, Representative Frank Balloni, DNJ, has accused oil companies of profiting from the Russian invasion of Ukraine while Americans struggle at the pump.
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“As American families struggle to bear the brunt of rising gas prices from Putin’s war on Ukraine, fossil companies are not doing enough to ease the pain at the pump, instead lining their pockets with one hand while sitting on the other,” Balloni said. joint statement With Chair of the Overnight Subcommittee and Investigations Diana Diggett, De Colo.
The April 6 session in particular does not include the country’s two largest refiners, Texas-based Marathon or Valero, or the owner of America’s largest refinery, Saudi Aramco. Refining is an essential step between oil production and the gas pump.
Send Ballone Message to six oil and gas companies earlier this month, suggesting the industry may be taking advantage of the war in Ukraine to boost profits.
Gas prices, over $5 per gallon, are displayed at a gas station in Rancho Cordova, California, on Monday, March 7, 2022. (AP Photo/Rich Pedroncelli)
“I am deeply concerned that the oil industry has not taken all the measures within its power to bring down domestic gasoline prices and ease the pain of Americans at the pump,” he said. Instead, the industry appears to be taking advantage of the crisis for its own benefit.
The national average gallon of gasoline held steady over the weekend and settled at $4.24 as of Tuesday, according to the AAA.
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Gas prices, driven by jittery supply and surging demand, had been increasing before Russia’s invasion of Ukraine in February, although the conflict pushed prices to levels not seen in more than a decade.
FOX Business’s Daniela Genovese contributed to this report.
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