Congressional Democrats on Thursday accused oil companies of inflating the cost of gasoline and vowed to investigate them, pushing back on who's to blame for rising prices hurting President Joe Biden's reelection chances.
Schumer criticized recent billion-dollar oil company mergers, such as one between ExxonMobil and Pioneer Natural Resources, as potentially "disastrous for consumers."MORE: House GOP calls Northwestern, Rutgers and UCLA leaders to testify on college protests, alleged antisemitism "The federal government must use every tool at our disposal to investigate the oil industry," he said.
Former President Donald Trump speaks to reporters at Manhattan criminal court in New York, May 20, 2024.Trump told a group of oil executives and business leaders that they should donate $1 billion to his presidential campaign because if elected, he would reverse environmental policies of the Biden administration, sources familiar with the meeting told ABC News.