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 report, the FTC said collusion by Pioneer and others may have cost the average American household up to $500 per car in increased annual fuel costs, an amount Democrats called “an unwelcome tax that is particularly burdensome for lower-income families.
A spokeswoman for the American Petroleum Institute, the largest lobbying group for the oil and gas industry, said officials “don’t know the details of the FTC’s allegations against one individual,” Sheffield, but added: “The reality is that U.S. producers answered the call to meet growing energy demand, despite a spate of inflationary policies from this administration that threaten our long-term energy security.
Last week, Democrats launched a separate investigation into what they say oil executives may have promised or been promised at an April dinner with former President, who reportedly asked the executives for $1 billion in campaign donations in return for reversing scores of environmental rules and policies by President Joe Biden, including an end to the Democrat’s freeze on new liquefied natural gas export terminals.
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