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Executives of six large oil and gas companies, appearing at a House hearing on Wednesday, defended themselves against criticisms that they were seeking to boost corporate profits by refusing to produce more oil and gas amid Russia’s invasion of Ukraine.
In remarks prepared for the hearing, the executives said they were not engaging in price gouging and were merely responding to global commodity prices that were out of their control. They also said they were working to make the shift to cleaner energy.
The hearing was taking place as lawmakers in Washington fought over who was responsible for rising gasoline prices, and how to balance efforts to limit climate change with the need for more U.S. oil and natural gas production. American and…
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