U.S. lawmakers accuse food and energy companies of pandemic profiteering

Washington, February 4 (RHC)-- In the U.S., Democrats in the House of Representatives have accused U.S. food and energy corporations of price gouging and “pandemic profiteering” that’s contributed to the largest surge in inflation since the 1980s. 

Congressmember Frank Pallone said at a House Energy and Commerce Committee hearing Wednesday that corporate executives have unfairly raised prices not only on pandemic essentials like COVID tests, masks and hand sanitizer, but also on staple items like food and fuel.

Rep. Pallone said: “I do think that corporate greed is motivating large companies to use the pandemic and supply chain issues as an excuse to raise prices simply because they can.  And a lot of executives brazenly boast to investors about raising prices on consumers without consequences, and these executives are saying they’re going to continue to do so.”