Democrats announce plans to ‘go after’ big oil in effort to bring down prices

Nancy Pelosi says oil companies hoarding the windfall while keeping prices high at the pump' amid concerns over US inflation

The Biden administration is to propose legislation that would allow US federal and state agencies to go after" oil companies on wholesale and retail sales practices, lambasting the industry over price gouging and profiteering.

As American voters express increasing concerns about the high prices of a wide range of consumer goods, including energy and food, Senate majority leader Chuck Schumer said passing legislation to bring down retail gasoline prices is at the very top of our list".