Rep. Schrier Grills Oil Execs on Price Gouging and Presses Them to Do More for Americans at The Gas Pump

WASHINGTON, DC – Today during an Oversight and Investigations Subcommittee hearing, U.S. Representative Kim Schrier, M.D. (WA-08) pressed oil executives to do more to counter the skyrocketing price of gas at the pump, particularly at a time of crisis abroad, and when oil companies are making record profits and paying big dividends to shareholders. Rep. Schrier pushed the CEOs to use the thousands of leases on public land they already have, and to ramp up extraction at existing sites to boost production and bring down oil prices. Rep. Schrier’s remarks can be found here.

“Oil companies are raking in record profits, profits that have only increased since Russia invaded Ukraine, and are paying big dividends to shareholders while my constituents are paying skyrocketing prices at the pump. The American people are hurting. I've proposed a pause in the federal gas tax to give some relief. Now we need the gas and oil companies to step up and do their part. Frankly, at a time of war in Europe and global uncertainty, boosting production to lower prices is the right thing and the patriotic thing for these companies to do," said Rep. Schrier. "In the long term, we must curb our dependence on fossil fuels. But right now, we need domestic production and lower prices at the pump."

Rep. Schrier is leading a bill to eliminate the federal gas tax in 2022 to help alleviate the financial strain at the gas pump. Additional details on that bill can be found here.