WATCH: Sen. Schiff Unveils New Actions to Hold Big Oil Companies Accountable for Price Gouging of Californians Ahead of July 4th Holiday

Los Angeles, CA - Today, U.S. Senator Adam Schiff (D-Calif.) unveiled new actions to hold big oil and gas companies accountable for the sky-high prices at the gas pump.

Outside of a gas station with the highest gas prices in Los Angeles, Senator Schiff demanded the U.S. Department of Justice investigate price gouging by oil and gas companies, promising to introduce legislation that will force an investigation that would report to Congress on potential gouging. Senator Schiff's push for an investigation comes as even President Trump has called out oil companies, saying earlier this month that Americans are being "gouged."

"Big Oil is raking in billions in profits while Californians are struggling to fill their tank this Fourth of July. This president has enabled oil and gas companies to gouge consumers more than any other president in history, and we need a federal investigation into how these oil companies continue to rake in billions while failing to pass on savings to the public when the price of oil stabilizes. If the Trump administration is serious about reversing course on its long track record of enriching oil and gas companies, it can start by launching this overdue investigation," said Senator Schiff.

Schiff also announced new legislation to levy an excess profits tax on Big Oil companies, who are projected to rake in $96 billion in profits in 2026, $13.5 billion more than last year.

Schiff has previously championed a windfall profits tax on oil companies as a way of shifting the cost burden of gas prices off of American families - who have been spending at least $1.00 a gallon more compared to last year, thanks to Trump's war in Iran.

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