Democrats Try to Play Offense on Gas Prices, Target Big Oil

Top congressional Democrats on Thursday announced legislation they said would lower gas prices for consumers, as rising costs imperil Democrats’ chances of maintaining their majorities in November’s elections.

Senate Majority Leader Chuck Schumer and House Speaker Nancy Pelosi said they would bring legislation to their respective chambers giving the Federal Trade Commission more authority to combat gasoline price manipulation. The lawmakers blamed Russian President Vladimir Putin’s invasion of Ukraine as a factor in rising costs, as well as what they called profiteering by “Big Oil.”

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“Democrats are moving forward with forceful action that will stop and hold accountable oil and gas companies for profiteering,” Pelosi said at a press conference at the Capitol.

Asked about a federal gas tax holiday, which some centrist Democrats have called for in an effort to alleviate consumer costs, Pelosi brushed off the proposal as “good PR” but without evidence that “the oil companies would pass that on to the consumer.”

In response to a question about arguments from Republicans that the United States should increase its own domestic energy production in response to rising costs, Pelosi and Schumer argued oil companies are not doing so, instead looking to increase their own profits.

Schumer and Pelosi argued that Democrats’ legislation would reduce costs while saying Republicans were looking to score political points by blaming President Joe Biden and Democrats for rising prices.

“Democrats are taking action to help Americans. Our Republican colleagues only lift a finger — finger, point blame, try to seek political advantage, get nothing done,” Schumer said.

An ABC News/Ipsos poll earlier this month found that voters blame multiple factors for rising costs: 71% blame Putin, while 68% blame oil companies. But majorities also blame Biden and Democratic policies, with fewer blaming Republicans or former President Donald Trump.

Pelosi said she does not think voters will blame Democrats for gas prices.

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“I think they’re blaming the oil companies,” she said. “They will blame all of us if we don’t do something about the fossil fuel industry.”