Democrats urge Justice Department to prosecute alleged collusion and price-fixing by oil industry
Senate Majority Leader Chuck Schumer and 22 other Democratic senators are calling on the Justice Department to prevent and prosecute alleged collusion and price-fixing in the oil industry
WASHINGTON (AP) — Senate Majority Leader Chuck Schumer and 22 other Democratic senators are calling on the Department of Justice to “use every tool” at its disposal to prevent and prosecute alleged collusion and price-fixing in the oil industry.
In a letter Thursday to Attorney General Merrick Garland and other officials, the Democrats said a recent Federal Trade Commission investigation into a high-profile merger uncovered evidence of price-fixing by oil executives that led to higher energy costs for American families and businesses.
The FTC cleared Exxon Mobil's $60 billion deal to buy Pioneer on May 2 but barred Sheffield from joining the new company’s board of directors. Pioneer, which is based in Dallas, said it disagreed with the allegations but would not impede closing of the merger, which was announced in 2023.
