House of Representatives ·
Price Gouging by Big Oil Companies
“Oil companies are price gouging and driving up the cost of diesel. Their refining profits have gone up almost 800 percent. I introduced a bill to restrict diesel exports so we keep American fuel here to lower prices. I want the President to tell Congress to pass my bill.”
“Mr. Speaker, I rise today to voice my concerns on the rising price of diesel fuel. Price gouging by greedy oil companies is causing hardworking Americans to struggle to fill their tanks. President Trump has already called on the Department of Justice to open an investigation into this abuse. Behind me, to my left, you will see a chart explaining just how dire this situation is for consumers. Refiners typically make a profit of around $15 per barrel, or roughly 35 cents per gallon. Today, the refiners are making $117 per barrel, or $2.78 per gallon. That is nearly an 800 percent increase, Mr. Speaker, an 800 percent increase they are making on the backs of hardworking Americans--our farmers, truck drivers, and ultimately us, the consumers. Every day we go to the market and pay more. That is why I am introducing legislation to implement export control measures on American diesel. Export controls drive down prices while also helping farmers and keeping more money in the pockets of consumers. That is affordability, Mr. Speaker. That is what America wants. That is what they are asking for, and dadgummit we ought to deliver it. These companies know they can make more money selling at higher prices abroad. American companies should prioritize American consumers and keep American diesel in America. I ask the President to please call on Congress to pass this vital piece of legislation. I don’t believe Congress has the guts or the willpower to do it. But the President has proven time and time again that he and Vice President Vance do have the guts to do what is right for this country. I call on the President--I implore the President-- please, to call on Congress to pass this vital piece of legislation.”
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Speech in the House
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Mr. Speaker, I rise today to voice my concerns on the rising price of diesel fuel. Price gouging by greedy oil companies is causing hardworking Americans to struggle to fill their tanks. President Trump has already called on the Department of Justice to open an investigation into this abuse. Behind me, to my left, you will see a chart explaining just how dire this situation is for consumers. Refiners typically make a profit of around $15 per barrel, or roughly 35 cents per gallon. Today, the refiners are making $117 per barrel, or $2.78 per gallon. That is nearly an 800 percent increase, Mr. Speaker, an 800 percent increase they are making on the backs of hardworking Americans--our farmers, truck drivers, and ultimately us, the consumers. Every day we go to the market and pay more. That is why I am introducing legislation to implement export control measures on American diesel. Export controls drive down prices while also helping farmers and keeping more money in the pockets of consumers. That is affordability, Mr. Speaker. That is what America wants. That is what they are asking for, and dadgummit we ought to deliver it. These companies know they can make more money selling at higher prices abroad. American companies should prioritize American consumers and keep American diesel in America. I ask the President to please call on Congress to pass this vital piece of legislation. I don’t believe Congress has the guts or the willpower to do it. But the President has proven time and time again that he and Vice President Vance do have the guts to do what is right for this country. I call on the President--I implore the President-- please, to call on Congress to pass this vital piece of legislation.