Published 10 months ago • loading... • Updated 10 months ago

Democratic senators seek probe of allegations of collusion between OPEC and oil industry

Senate Majority Leader Chuck Schumer and 22 Democratic senators urge the Department of Justice to prevent and prosecute alleged collusion and price-fixing in the oil industry.
Recent FTC investigation revealed evidence of price-fixing by oil executives, resulting in higher energy costs for American families and businesses, as stated in a letter to Attorney General Merrick Garland.
Former CEO Scott Sheffield of Pioneer Natural Resources is accused of colluding with OPEC and OPEC+ to potentially increase crude oil prices, prompting a call for an industry-wide investigation into Sherman Antitrust Act violations.

Insights by Ground AI

Does this summary seem wrong?

37 Articles

All

Left

Center

Right

The Epoch Times

Democrats Demand DOJ Probe Into Oil Industry Price-Fixing Allegations

Senate Majority Leader Chuck Schumer (D-N.Y.) and 22 Democratic senators urged the Department of Justice (DOJ) to probe allegations of price-fixing in the oil and gas industry. Democrats in the upper chamber, joined by Sen. Bernie Sanders (I-Vt.), requested Attorney General Merrick Garland to determine whether oil and gas firms illegally colluded to ensure high fuel costs, exacerbating inflation pressures in the U.S. economy. The group of senato…

10 months ago·New York, United States

Read Full Article

Oil Price

Democrats Call for Probe Into Allegations of Oil Industry Collusion

A group of 22 Democratic Senators led by Majority Leader Chuck Schumer have issued a call on the Department of Justice to investigate a claim made by the Federal Trade Commission that the former CEO of Pioneer Natural Resources had colluded with OPEC to keep oil prices high. “These reports are alarming and lend credence to the fear that corporate avarice is keeping prices artificially high,” the group said in the letter they sent to Attorney Gen…

10 months ago·London, United Kingdom

Read Full Article

Fox Business

Senate Democrats accuse oil companies of collusion with OPEC, demand DOJ investigation

Senate Majority Leader Chuck Schumer, D-N.Y., led a group of 23 Democratic senators who wrote letters urging the Justice Department to take steps to prevent and prosecute alleged collusion and price fixing between the oil industry and the Organization of the Petroleum Exporting Countries (OPEC).The letter comes after the Federal Trade Commission (FTC) gave the green light to ExxonMobil's $60 billion acquisition of Pioneer Natural Resources but b…

10 months ago·United States

Read Full Article

Washington Examiner

Senate Democrats call for DOJ investigation into Big Oil

Two dozen Senate Democrats on Thursday renewed calls for the oil industry to be investigated for the possibility of collusion and price fixing, this time by Attorney General Merrick Garland. The latest endeavor comes after the Federal Trade Commission greenlighted a $64.5 billion Exxon Mobil merger with Pioneer Natural Resources but said Pioneer’s former CEO engaged in “collusive activity” with OPEC and OPEC+ “that would potentially raise crude …

10 months ago·Washington, United States

Read Full Article

The Hill

Senate Democrats call for DOJ to probe Big Oil over price-fixing allegations

Senate Majority Leader Chuck Schumer (D-N.Y.) led 23 Democratic senators Thursday in a call for the Justice Department to investigate allegations of price-fixing by major oil companies.

10 months ago·Washington, United States

Read Full Article

Reuters

Democratic senators seek probe of allegations of collusion between OPEC and oil industry

U.S. Senate Majority Leader Chuck Schumer and 22 other Democratic Senators on Thursday asked the Attorney General to investigate allegations of collusion and price fixing between the oil industry and the Organization of the Petroleum Exporting Countries (OPEC).

10 months ago·United Kingdom

Read Full Article

Think freely.Subscribe and get full access to Ground NewsSubscriptions start at $9.99/year