Energy Pricing & Profits Hearing

From the New York Times: "Five of the country's top oil executives walked into a large Congressional hearing room on Wednesday - one filled with nearly a third of all senators and with hundreds of other people, a dozen of them wearing T-shirts reading 'Expose Exxon.'

"Senators from both parties demanded that the executives defend their record profits, amid soaring retail prices for oil and natural gas and suspicions of gasoline price manipulation. The confrontation was a bit theatrical."

Information on the "Energy Pricing & Profits" hearing is available on the Senate Committee on Commerce, Science, and Transportation website. The site includes links to witness testimony and archived video of the hearing.

A few related reports may be helpful for background information:

Hurricane Impacts on the U.S. Oil and Natural Gas Markets (EIA)

Oil and Gas: Supply Issues After Katrina (CRS)

Price Increases in the Aftermath of Hurricane Katrina: Authority to Limit Price Gouging (CRS)

Oil and Gas Disruption From Hurricanes Katrina and Rita (CRS)

Sources: "Senators Grill Oil Executives on Prices and Profits." New York Times November 10, 2005.
"Senate grills oil executives: Sparks fly when lawmakers question companies' profits." Missoulian November 10, 2005. A1.