Dr. Ruiz Grills Big Oil CEOs In Congressional Hearing

Statement

Today, Congressman Raul Ruiz, M.D. (CA-36) skewered Big Oil CEOs for price gouging American families at the gas pump during a time of crisis. In a hearing with the House Committee on Energy and Commerce's Oversight and Investigations Subcommittee, Dr. Ruiz pressured BP, Exxon, Chevron, and Shell executives about reaping record profits to benefit shareholders rather than increasing production to lower prices.

"I'm curious-- on your salaries, do any of you have trouble affording the gas to get to your jobs?" Dr. Ruiz asked the executives.

"While American families are struggling with high gas prices, you and your Big Oil corporations are making record profits, choosing to keep supply low," he continued. "Instead of investing in oil production in 9,000 unused permits, you chose to make more profit for shareholders. During this Russian war, you are ripping the American people off and it must end."

In the hearing, Dr. Ruiz also highlighted the opportunity to increase America's energy independence with clean, renewable energy like lithium found underneath the Salton Sea.

"Right now, we're sitting on the 5th largest lithium deposit in the world, big enough to power our clean energy future and meet our battery manufacturing needs," Dr. Ruiz said. "A clean energy future will break us free from our dependence on oil, it'll ensure we won't have to worry about outrageous gas prices like we're seeing now, and if we do it right, it'll create sustainable manufacturing here at home."

Dr. Ruiz's full committee remarks can be found here.

Right now, the oil and gas industry has more than 9,000 approved and unused drilling permits that could increase supply and lower prices for American consumers. Nearly 60 percent of oil and gas company executives said the primary reason that oil companies are not increasing production is "investor pressure to maintain capital discipline."

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