Warren on Increased Gas Prices: 'This Isn’t About Inflation' – It's Price Gouging

On Wednesday’s broadcast of MSNBC’s “The ReidOut,” Sen. Elizabeth Warren (D-MA) argued that if “this were just ordinary inflation, we might see prices go up. But prices at the pump have gone up,” because the increase in gas prices “isn’t about inflation. This is about price gouging for these guys.”

Warren said, “We know exactly who the oil companies — what the oil companies pay attention to. What is their number one priority? Profits. And so, think about it this way, if we really — this were just ordinary inflation, we might see prices go up. But prices at the pump have gone up, why? Well, let me give you a hint, Chevron, Exxon have doubled their profits. This isn’t about inflation. This is about price gouging for these guys. So, I get it. When we see prices go up, we’re all concerned and the Republicans want to come in and just try to hammer on one theme about this economy, but we’ve got to pay attention to the fact that folks like the oil companies say, I think it’s just another opportunity to make profits and we need to call them out on that.”

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