Schumer Urges Big Oil, Gas Probe on Price-Fixing Allegations (1)

May 30, 2024, 10:00 AM UTCUpdated: May 30, 2024, 2:43 PM UTC

The Justice Department should launch an industry-wide investigation into oil and gas companies related to any possible collusion or price-fixing, Senate Majority Leader Chuck Schumer (D-N.Y.) and several other Democrats said Thursday.

Congressional Democrats have ramped up pressure on the oil and gas industry in recent months as the election season draws closer, criticizing companies’ record profits and what they see as insufficient commitment to reducing greenhouse gas emissions.

The move comes after the Federal Trade Commission alleged it found evidence of price-fixing involving American oil executive Scott Sheffield and OPEC officials. Sheffield, the former head of Pioneer Natural Resources ...

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