Washington, D.C. – The Energy & Natural Resources Committee and the Committee on Commerce, Science and Transportation will hold a joint hearing on November 9, 2005, at 9:30 a.m. in SD-106 to address energy prices and corporate profits.

Immediately after convening, the committees 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 at approximately 12:30 p.m. and reconvene the joint hearing at 2:00 p.m. to 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. 

The committees will announce witnesses for both panels on November 4th.