Video: What's the Real Price of Oil?

There was an interesting exchange Thursday before a Senate Finance Committee investigating the recent surge in gasoline prices. The heads of several major oil companies were on hand to answer lawmakers' questions.

In response to questioning from Sen. Maria Cantwell (D-WA), Exxon Mobile CEO Rex Tillerson said Wall Street trading in oil futures in recent months has added significantly to the cost of oil. Tillerson said if prices were being dictated solely by supply and demand, a barrel of oil should cost between $60 and $70.