Former Shell Oil Company President John Hofmeister spoke about U.S. energy policy. He criticized both the Obama administration and Congress among his comments. He said President Obama has no plan to reduce gas prices and the U.S. dependence on foreign oil, and that members of Congress insulted oil companies at a previous day Senate Finance Committee hearing on eliminating their companies' tax breaks. He also said he predicted months ago that U.S. gas prices would reach $5 per gallon because "we're not producing enough domestic oil."