The Democratic Policy Committee held a hearing on the state of fuel production and gasoline pricing in the wake of Hurricane… read more
The Democratic Policy Committee held a hearing on the state of fuel production and gasoline pricing in the wake of Hurricane Katrina. Senators discussed disruptions in refining and supply capacity as a result of the disaster. They also focused on pricing practices, the levels of corporate profits, and the oil industry’s reluctance in past years to take measures to increase production capacity. Witnesses testified to the hardships that both consumers and gasoline station owners face in light of increased gasoline prices.
During the hearing a meter indicating profits per second and the total amount of corporate profits earned during the hearing period was mounted on a wall. close
*The transcript for this program was compiled from uncorrected Closed Captioning.
People in this video
- Dean Baker Co-Founder and Co-Director Center for Economic and Policy Research
- Mark N. Cooper Director Consumer Federation of America->Research
- Mark Dayton U.S. Senator [D] Minnesota
- Byron L. Dorgan U.S. Senator [D] North Dakota
- Dianne Feinstein U.S. Senator [D] California
- James Jeffords U.S. Senator [I] Vermont
- Mary McCaffrey Board Member Cape Cod Cranberry Growers Association->Board of Directors
- Patrick Meadowcraft Owner Maryland Line Service Center->Independent Gas Station
- Mark Pryor U.S. Senator [D] Arkansas
- Trica Young-Williams Aide Montgomery County, MD->Schools and Health Services
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The Senate convened and began a period of morning business.
br/ Thereafter, the Senate resumed consideration of…