“Investor pressure to maintain capital discipline” is a nice way of referring to putting profits ahead of the public good. And that’s precisely what the oil companies are doing. “Big Oil executives are bragging to shareholders about price gouging families at the pump,” said [California Representative Katie] Porter. “They’re purposely keeping supply low to earn record-high profits, squeezing families—and our entire economy—in the process.”

But Congress could clear the way for expanded investigations by the Federal Trade Commission andaggressive executive action by the president. Unfortunately, the Senate does not have the votes to get it done. As long as the filibuster remains, it will take 60 votes to pass the Senate version of the Consumer Fuel Price Gouging Prevention Act, which is supported by majority leader Chuck Schumer (D-N.Y.) and the overwhelming majority of his caucus.

The GOP Is the Party of Gruesome Oil Profiteering | The Nation