Democrats on the Senate Judiciary Committee vented their fury over high gasoline prices at executives of the nation’s five largest oil companies on Wednesday, grilling the oilmen over their multimillion-dollar pay packages and warning them that Congress was intent on taking action that could include a new tax on so-called windfall profits. Such showdowns between lawmakers and oil titans have become a familiar routine on Capitol Hill. But with gas prices nearing $ 4 a gallon, and lawmakers headed home for a weeklong Memorial Day recess where they expect to get an earful from angry constituents, there is added urgency for Congress to appear active.
But while momentum is building for several measures, including a bill that would allow the Organization of the Petroleum Exporting Countries to be sued in American courts under antitrust laws, there is little sign that any of the proposals would do much, if anything, to lower prices quickly. And the oil executives warned th
A. it is necessary to impose tax on windfall profits
B. it is urgent to fight against monopoly
C. it is pressing to think much of the ever-increasing oil prices
D. it is important to resort to NOPEC
Democrats on the Senate Judiciary Committee vented their fury over high gasoline prices at executives of the nation’s five largest oil companies on Wednesday, grilling the oilmen over their multimillion-dollar pay packages and warning them that Congress was intent on taking action that could include a new tax on so-called windfall profits. Such showdowns between lawmakers and oil titans have become a familiar routine on Capitol Hill. But with gas prices nearing $ 4 a gallon, and lawmakers headed home for a weeklong Memorial Day recess where they expect to get an earful from angry constituents, there is added urgency for Congress to appear active.
But while momentum is building for several measures, including a bill that would allow the Organization of the Petroleum Exporting Countries to be sued in American courts under antitrust laws, there is little sign that any of the proposals would do much, if anything, to lower prices quickly. And the oil executives warned th
A. The basic laws of supply and demand
B. The monopoly of oil-producing countries
C. Speculation in the oil futures markets
D. Oil companies salivating over profits
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