Biden asks FTC to probe gas and oil companies for “illegal conduct” amid rising prices
President Biden sent a letter to Federal Trade Commission Chair Lina Khan Wednesday asking the agency to determine whether “illegal conduct” by large oil and gas companies is pushing up gasoline prices.Why it matters: It's unlikely that the letter will bring down gas prices any time soon, though an FTC investigation could clarify how such companies determine prices.Stay on top of the latest market trends and economic insights with Axios Markets.…
Biden asks FTC to redouble probe of possible 'illegal conduct' by oil, gas companies
U.S. President Joe Biden on Wednesday said there was mounting evidence of anti-consumer behavior by oil and gas companies and asked the Federal Trade Commission to dig deeper into possible anti-competitive or "illegal conduct" in the market.
Biden asks FTC to 'immediately' look into whether illegal conduct is pushing up gas prices
President Joe Biden asked the Federal Trade Commission on Wednesday to "immediately" investigate whether illegal activity by oil and gas companies is pushing up gas prices.
Biden, under fire for inflation, calls on FTC to probe oil firms for high gas prices
President Biden on Wednesday asked the head of the Federal Trade Commission to investigate whether oil companies are illegally increasing prices at the pump, as he scrambles to assuage voters' anger over soaring consumer prices."The Federal Trade Commission has authority to consider whether illegal conduct is costing families at ...