Oil execs refuse to testify at U.S. Senate hearing

Newswire

WASHINGTON, Jan 30 (Reuters) - Officials from six major oil companies have refused to testify this week at a Senate hearing looking into whether oil industry mergers in recent years have made gasoline more expensive at the pump. With oil companies reporting record profits from higher energy prices, consumer groups have complained that mergers in the industry have stifled competition. Exxon Mobil said on Monday it earned $10.7 billion in the fourth quarter of last year and $36.1 billion ...

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