Gasoline prices
About 70% of the gasoline sold in the U.S. is produced by just five oil companies. It is estimated they have recorded at least a trillion dollars in profits since 2002 and most, if not all, have posted 100% profit increases during this time. These corporations also continue reap billions in annual taxpayer subsidies. Consumer advocates claim that for many years, oil companies have maintained high gasoline prices by engaging in uncompetitive behaviors such as collusion, price fixing and consumer price gouging. They say fuel prices have only recently decreased because of a nearly-unprecedented glut of crude oil on the world market, much of it from newly-developed shale oil fields in North Dakota and Texas. They claim low fuel prices will only last until the market stabilizes, after which prices will likely rebound. Since 1973, oil companies have been banned from exporting crude oil abroad, but this ban did not prohibit exports of refined petroleum products. Critics claim oil companies use this loophole to export about 4 million gallons of gasoline, diesel and jet fuel each day, increasing the cost of domestic fuels. Oil companies now wish to repeal the export ban altogether in order to sell crude oil on the world market. The Obama administration has recently agreed to allow these sales. Opponents wish to reinstitute the crude oil export ban and expand it to include refined petroleum products.

Pending Legislation: None

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Poll Opening Date
May 21, 2020
Poll Closing Date
May 27, 2020

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