It's the oil companies

Press Release

Oregon families are still getting hit hard at the gas pump.

Many people are asking who is to blame for the rising energy prices. There's no doubt that the war in Ukraine and the disruption in the global supply chain have affected prices.

But there's something more suspicious at work regarding high gas prices: oil companies are price-gouging Americans.

According to CNN, oil companies are under increased pressure from their shareholders to invest in stock buybacks and dividends.

By doing so, the cost of oil goes up, and the oil companies increase the value for their shareholders and make their rich investors even richer.

And who pays the price? American families.

Yesterday I voted to hold oil companies accountable and help prevent price gouging. The Consumer Fuel Price Gouging Prevention Act will increase oversight for these companies and stop artificially high prices.

In addition to this important legislation, I'm fighting every day in Congress to transition America to clean and renewable energy sources made here at home.

We can't depend on the whims of the global energy market, nor can we rely on greedy oil company CEOs to do the right thing. The time for clean energy is NOW.

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