U.S. oil executives sought to defuse tensions with Democrats over rising fuel prices in a...
and Democrats to increase oil production, with the House Energy and Commerce Committee's hearing Wednesday entitled,"Gouged at the gas station: Big Oil and America's pain at the pump."
"We understand oil is a global commodity," she said."But here's the thing, if the price of gas is driven by the global market, why are fuel prices still at record highs? Something doesn't add up." Pioneer Natural Resources CEO Scott Sheffield testified how financing had become increasingly difficult to come by following the 2014 oil price crash.
Devon Energy CEO Richard Muncrief said supply chain holdups and worker shortages were causing delays in bringing wells into production.
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