Congress’s “war profiteering” debate with Big Oil misses the point ...Middle East

Quartz - Economy
Congress’s “war profiteering” debate with Big Oil misses the point
source : Quartz ( Middle East ) () 17
Top executives from ExxonMobil, Chevron, and other US oil companies are testifying in a congressional hearing on April 6 about whether they are inappropriately profiting off the recent surge in oil and gas prices.Democrats on the House Energy and Commerce Committee have accused the companies of  “ripping off the American people” as the price of gasoline remains above $4 per gallon, compared to $2.80 a year ago. In response, according to their prepared remarks, the executives argue that oil prices are outside their immediate control, and that they are working to step up drilling.Are oil companies profiteering?Read the rest of this story on qz.com. Become a member to get unlimited access to Qu

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