Oil CEOs to Face Grilling Over Gas Prices on Wednesday: CCI Statement

As their industry rakes in record profits, and Americans pay record prices at the pump, executives from six major oil and gas companies -- ExxonMobil, Chevron, Shell, BP America, Devon Energy, and Pioneer Natural Resources -- are set to testify before the House Energy and Commerce Committee on Wednesday, April 6, at a hearing entitled, "Gouged at the Gas Station: Big Oil and America's Pain at the Pump."

Exxon, Chevron, Shell, and BP's stock buybacks "substantially outpace" their pledged investments in cleaner energy sources, according to a Monday letter to the four companies' executives from House Oversight Committee Chair Carolyn Makoney and Environment Subcommittee Chair Ro Khanna, who are conducting their own investigation into the companies' role in spreading climate disinformation.

Richard Wiles, president of the Center for Climate Integrity, released the following statement:

"The only solution to repeated surges in gas prices is to end our dependence on oil and gas, but the fossil fuel industry has blocked the transition to cleaner, more reliable energy sources at every opportunity.

"Oil and gas corporations pushed climate denial, disinformation, and deception for decades to keep the nation hooked on their products, and now they're pushing disinformation about gas prices so they can keep raking in profits while Americans pay the price.

"A long list of western oil and gas corporations have helped Putin build the industry that is financing his invasion of Ukraine and making possible his stranglehold on power. By keeping the world addicted to fossil fuels, these companies played a direct role in paving the road to catastrophe. They will do as little as possible to help us change course as long as they can return profits to shareholders -- no matter the cost to national security, war and peace, or a liveable climate.

"We're glad to see members of Congress fighting to hold lying oil executives accountable and make them answer to the American people."

Background on Congressional investigations into Big Oil's climate deception:

Wednesday's hearing will mark the second time in recent months that executives from Exxon, Chevron, BP, and Shell have been hauled in front of Congress.

In an October 2021 House Oversight hearing, the four refused to commit under oath, during questioning from Chair Maloney and others, that their companies would stop spending money to oppose efforts to reduce emissions and combat climate change. They are now facing subpoenas as part of a wider Oversight investigation.