BRADDOCK, Pa. (WTAJ) — Pennsylvania Lt. Governor and U.S. Senate candidate John Fetterman released a statement after ExxonMobil profit forecasts were released, saying the projected profits are “mind boggling” and that the price gouging needs to end.
Between the war between Russia and Ukraine, supply and demand, inflation, and summer travel, gas prices in Pennsylvania peaked at more than $5.04, according to AAA. As of this writing, July 7, the national average sits at $4.752 per gallon while Pennsylvania is showing $4.845 per gallon.
Fetterman said it doesn’t take a genius to see what’s going on with these gas prices. ExxonMobil announced they’re on track to hit $18 billion in profits, a reported $12.5 billion increase compared to the first quarter, according to the Wall Street Journal, all while motorists are forced to pay nearly $5 a gallon or more in some states.
Fetterman went on to state that his senate opponent, Dr. Oz, surely doesn’t notice the sky high prices and might not even notice if one of his houses went missing.
Dr. Oz recently appeared on a podcast and called the criticizing of these oil companies “reprehensible” just days after President Joe Biden sent oil companies a letter about the “disconnect” between oil prices and the price of gas.
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You can read Fetterman’s full state below, unedited.
John Fetterman statement:
“While working people kicked off the July 4th weekend by paying truly exorbitant prices at the pump, ExxonMobil marked the start of the weekend by announcing that they are on track to hit a mind boggling $18 billion in profits.
This is a $12.5 billion increase compared to the first quarter. It’s hard to even conceptualize how much money that is.
All while we’re getting charged nearly $5 a gallon.
It does not take a genius to see what is going on here. These oil and gas companies are keeping prices high for consumers just so they can make literally billions of dollars in profits. And they are bragging about it to their investors while hard-working Americans pay more and more at the pump. This price gouging bullshit needs to end.
Let’s be clear: my opponent, multi-millionaire celebrity doctor Dr. Oz, surely doesn’t notice these sky high prices. He might not even notice if one of his nine homes went missing. He simply doesn’t get it. Two weeks ago, he even called criticizing oil and gas companies for price gouging ‘reprehensible.’ Well Dr. Oz, I think it’s reprehensible for you to be carrying water for the companies brazenly ripping off Americans during one of the toughest economic times we’ve faced.
Washington doesn’t need more apologists for Big Oil — there are already plenty. What Washington needs is more leaders who will stand up to corporate executives and special interests and hold these companies accountable for ripping us off. It’s simple: Dr. Oz will stand by and let them price gouge. I will fight back.”