It is no secret that fuel costs are out of control. With long
commutes and extremely cold winters, Vermonters are often the
hardest hit by rising fuel prices. Senator Leahy is working to bring
down the price at the pump, investigate market manipulation by oil
and gas companies, and help struggling Vermonters. As part of a
long-term solution, Senator Leahy is fighting to break our addiction
to foreign oil and invest in affordable, domestic, green sources of
energy.
What is Senator Leahy Doing About the
High Cost of Fuel?
Senator Leahy joined with Senator Bernie Sanders and Congressman Peter Welch in a
letter to the Federal Trade Commission (FTC) asking that they exercise
the authority Congress granted them last December to investigate whether
the skyrocketing price of crude oil has been caused by anticompetitive
limits on supply or market manipulation. The FTC has assured the
delegation that they have begun the rulemaking process to investigate
these claims, and Senator Leahy will continue to monitor their progress.
Leahy chaired a Senate Judiciary
Committee hearing on May 21, 2008, to examine the skyrocketing
prices of oil. Executives from five of the major oil
companies testified before the committee. Left to Right: Robert
A. Malone, Chairman and President of BP America Inc, John Hofmeister, President of Shell Oil Company, Peter J. Robertson,
Vice Chairman of the Board of Chevron Corporation, John E. Lowe,
Executive Vice President of ConocoPhillips Company, and J.
Stephen Simon, Senior Vice President of Exxon Mobil Corporation.
You can view parts of this hearing below:
