News Release

Oil Prices

STEVE KRETZMANN
NADINE BLOCH
Kretzmann is founder and executive director of Oil Change International. He said today: “In their testimony about high gasoline prices, top oil executives repeatedly ducked questions about gas prices, demanded access to more drilling, and could not tell Senators how much they earn. Not a single suggestion came from the oil executives that will lower gas prices. There’s a reason for that, which is that the only answer is one they don’t want to discuss — an urgent transition to renewable energy.

“We could drill every last inch of Alaska, the Rocky Mountains, and our coasts and it would barely make a dent in supply or prices. Congress needs to stop this political theater and get serious about the transition to renewable forms of energy. So far, they’re continuing to lavish the industry with billions in subsidies, while receiving millions from the industry in campaign contributions.”

Bloch is field director with Oil Change International. She said today: “I was arrested in the Senate hearing room yesterday for demanding a Separation of Oil and State. We can’t drill our way out of this problem. We need to get Big Oil money out of our Congress.”

JOAN CLAYBROOK
TYSON SLOCUM
Claybrook is president of Public Citizen. Slocum is director of Public Citizen’s Energy Program. Claybrook said today: “You are paying sky-high prices at the gas pump because the barons of ‘big oil’ have bushwacked the American people. With the help of major league lobbyists and the high-ranking politicians receptive to them, oil companies are earning enormous profits through a combination of anti-competitive practices — including market manipulation — made even easier by the wave of recent oil company mergers and the government’s outrageously weak regulatory oversight.

“Every time you buy gas, you know you are being price-gouged, but did you know that, for every gallon of gas you buy, you are being charged an extra 70 cents — at least — that is related purely to market speculation and not a function of supply-and-demand? The oil barons not only get away with this, they use their considerable influence to prevent the passage of meaningful fuel economy legislation, further squeezing consumers by ensuring automakers will continue to build gas-guzzling cars.”

For more information, contact at the Institute for Public Accuracy:
Sam Husseini, (202) 347-0020; or David Zupan, (541) 484-9167