Innovation Ohio · June 10, 2022
CINCINNATI — Today, Innovation Ohio gathered elected officials, partners, and community members in Cincinnati’s Summit Park to hold corporations like Marathon Petroleum accountable for price gouging Ohioans under the guise of inflation.
Watch the full press conference here.
“The issue of corporate greed is actually quite simple to understand. Gas prices have reached their highest levels since 2014. And while everyday Americans are paying the price, the billionaires who run the gas companies are lining their pockets with hundreds of millions of our hard earned dollars,” said State Representative Jessica Miranda (D-Forest Park).
Marathon Petroleum has a history of putting profits before people, going all the way back to when it jacked up gas prices in the aftermath of Hurricanes Katrina and Rita. Now, Marathon is using the aftermath of another tragedy to pad its pockets, posting more than double their expected profits last year and adding $5 billion in stock buybacks. Meanwhile, gas prices in Ohio have hit record highs multiple times in the past month, with some Ohioans paying over $5 per gallon.|
“We talk about inflation, and how high it is now, and whose fault it is. But the reality is that lots of money is going into the pockets of the same people who have created laws for years that only benefit them and not the hardworking people here in Ohio….follow the money,” said State Representative Catherine Ingram (D-Cincinnati).
On Unrig Our Economy’s National Corporate Greed Day of Action, Americans at events nationwide called out wealthy corporations that have made inflation worse by jacking up prices while lavishing executives with outsized compensation and rewarding their shareholders with buybacks and dividends. These events also shed light on the actions and votes that Republicans in Congress have taken that favor corporations over their constituents.
“It’s time for Republicans to cross the aisle and work with Democrats to lower costs for Ohio families and Americans nationwide,” said Desiree Tims, President and CEO of Innovation Ohio. “Joe Biden and Democrats in Congress have been battling high costs from every angle. House Democrats even passed a bill to punish corporate price gouging, but Senate Republicans are likely to block it. Who are those Republican politicians really working for? It certainly isn’t their constituents.”
Today’s demonstration featured a 12-foot inflatable ‘corporate fat cat’ protecting his money the way Marathon has hoarded profits at the expense of working people.
“I’m a suburban mom, and you know what we moms are really good at? Multi-tasking and getting stuff done…We solve the problem. This is the exact opposite of what we are seeing from Republicans right now. They are not offering solutions. Instead, they’re spending their time trying to confuse and scare us with disinformation and lies,” said Julie Womack, Cincinnati resident and Chief Organizing Officer for Red Wine and Blue.
Similar actions and events also took place in Bakersfield, CA; Houston, TX; Indianapolis, IN; Minneapolis, MN; Omaha, NE; Phoenix, AZ; Staten Island, NY; and Waterloo, IA.
Learn more about the National Corporate Greed Day of Action at UnRigOurEconomy.com or by contacting email@example.com.
About Innovation Ohio
Innovation Ohio is a diverse nonprofit organization working to improve everyday life for Ohio workers and families, create opportunities for all Ohioans, and strengthen Ohioan communities from the bottom up. Through polling, messaging campaigns, and coalition building, they are a catalyst for progressive policy and grassroots activity.
About Unrig Our Economy
Unrig Our Economy is a national campaign to fix the rules of our economy to make it work for working people. We know that when the middle class does well, all of us do well — which is why we’re fighting on behalf of working Americans and holding corporations, their wealthy executives, and the politicians who enable them accountable.
Tagged in these Policy Areas: