Washington, D.C. - The Energy & Natural Resources Committee and the Committee on Commerce, Science and Transportation will hold a joint hearing on November 9 at 9:30 a.m. in SD-106 to energy prices and corporate profits.

The first panel will hear testimony from the chief executive officers of major integrated oil and gas companies. The CEOs will discuss the record prices of oil, gasoline and natural gas and factors affecting those prices. They will discuss third-quarter ’05 corporate profits and are expected to answer questions on a variety of issues including global demand, resource development strategies and windfall profits taxes.

The Committees will recess for lunch at approximately 12:30 p.m. and reconvene the joint hearing at 2:00 p.m.  The second panel will hear testimony from the Chairman of the Federal Trade Commission and state attorneys general.  These witnesses will discuss the effectiveness of federal and state consumer protection laws designed to prevent occurrences of price gouging during supply disruptions. 

Invited Witnesses Include:

Panel 1

Mr. Lee Raymond

Chairman and Chief Executive Officer

Exxon Mobil Corporation

Mr. David O’Reilly

Chairman and Chief Executive Officer

Chevron Corporation

Mr. James Mulva

Chairman and Chief Executive Officer

ConocoPhillips

Mr. Ross Pillari

President and Chief Executive Officer

BP America Inc.

Mr. John Hofmeister

President and US Country Chair

Shell Oil Company

Panel 2 

Ms. Deborah Platt Majoras

Chairman, Federal Trade Commission

Mr. Peter C. Harvey

New Jersey Attorney General

Office of the Attorney General

Mr. Henry McMaster

South Carolina Attorney General

Office of the Attorney General

Mr. Terry Goddard

Arizona Attorney General

Office of the Attorney General