Home Heating Fuels Crisis, Part 1
The Senate Governmental Affairs Committee held a hearing on issues surrounding the recent cold streak and the accompanying rapid rise in hom… read more
The Senate Governmental Affairs Committee held a hearing on issues surrounding the recent cold streak and the accompanying rapid rise in home heating oil prices. Acting Chairman Sen. Joe Lieberman (D-Connecticut) asked industry representatives why oil reserves were so low when production was higher than normal in recent months. Lieberman also talked about the discrepancy between falling wholesale and retail prices now that the cold streak was over. Officials from the Department of Energy spoke about the effect of the oil price increase on the entire American economy and the department’s agreement to conduct a study on industry prices and margins. close
People in this video
- Warren LeBack Administrator U.S. Maritime Administration
- James Rill Assistant Attorney General Department of Justice
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