Energy bosses warn there is 'no quick fix' to the higher energy costs hitting households.
The bosses of some of the world's biggest energy firms vowed to increase production this year as they defended themselves from accusations of profiteering from the war in Ukraine.
They said their investments will raise output this year, but warned that staffing and supply issues stemming from the pandemic meant it is taking longer to start new production. The country is the world's second-largest exporter of crude oil, accounting for about 10% of global output. At the hearing, Democrats said oil firms were "lining their own pockets" as petrol prices have not fallen as rapidly as oil.
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