House Democrats are keeping a spotlight on the oil industry as gasoline prices hover near record levels
, with Natural Resources Chairdemanding that industry executives testify on why they haven’t jumped to drill new wells that would ease the crunch.
But Democratic leaders’ charges of anti-competitive behavior are being met with skepticism by analysts and even some rank-and-file Democrats who note the delay between falling oil prices and movement on the gasoline front. To fend off Republican attacks over rising inflation across the economy, Democrats have sought to blame high gasoline prices — which are particularly visible to voters — on outside factors rather than their own policies.of Wyoming, the top Republican of the Senate Energy Committee, told POLITICO. “They know the American people are disgusted with the way Democrats are refusing to allow American energy to be produced.
Kevin Book, managing director of ClearView Energy Partners, a research firm, said the divergence between oil and gasoline prices can be explained by three factors: seasonality, refinery outages and the number of refined products companies have in inventory, or storage. Democrats argue oil companies should eat any cost associated with lowering gasoline prices more quickly in line with oil price drops, given the extreme pinch U.S. drivers are experiencing.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
House Dems Urge McConnell to Rally GOP Behind 'Common-Sense' Gun Reform'Gun violence impacts all of us and is an existential threat to our lives and our democracy,' says RepBowman, urging Senate Minority Leader Mitch McConnell to support 'common-sense' firearm law reform.
Read more »
House Republicans who challenged Biden's win are losing lots of corporate cashIn the days after the Jan. 6, 2021 attack on the U.S. Capitol, dozens of companies said they would suspend political donations to Republican lawmakers who had backed then-President Donald Trump's baseless claims of fraud in the 2020 election. More than one year later, Republicans in the House of Representatives who voted to challenge the election results have so far collected about half as much corporate cash as they did at this point in the previous election cycle, a Reuters analysis of campaign finance records shows. By contrast, corporate donations are up about 10% to House Republicans who voted to certify President Joe Biden's victory over Trump.
Read more »
House Democrats raised $19.3 million in February, a committee recordThe Democratic Congressional Campaign Committee led their Republican counterparts in fundraising in 2021 as they head into tough midterm elections in November.
Read more »
House Democrats call on Justice Department to address 'insider threats' posed by candidates who believe false election fraud claimsMore than a dozen House Democrats are calling on the Department of Justice to address 'insider threats' that they say candidates for state and local election posts, who believe the 2020 election was stolen, pose to the nation's election systems.
Read more »
House votes to further restrict Russian trade after invasionThe U.S. House has voted overwhelmingly to suspend normal trade relations with Russia and Belarus, preparing for President Biden to enact higher tariffs on more products and further weaken the Russian economy amid the war in Ukraine.
Read more »
Lottery Bill Heads to Full Alabama House of Representatives - Alabama NewsAn Alabama legislative committee has advanced a lottery proposal as proponents try to get the issue before voters for the first time since 1999. alnews alpolitics lottery alabamanewsnetwork
Read more »