The American Petroleum Institute explains effectively that a huge swath of the American public owns shares in the energy companies that Democrats are blaming for high oil prices:
- 29.5 percent of U.S. oil and natural gas company shares are owned by mutual funds and other firms
- 27 percent are owned by pension funds
- Individual investors own 23 percent
- 14 percent are held in IRA accounts
When Congress aims at ‘Big Oil,’ they’re likely to do a lot of collateral damage. HT: NAM Blog
