Democrats urge Justice Department to prosecute alleged collusion and price-fixing by oil industry

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U.S. Department Of Justice News

OPEC,Charles Schumer,Government Regulations

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.

Senate Majority Leader Chuck Schumer, D-N.Y., joined at left by Sen. Debbie Stabenow, D-Mich., speaks to reporters after Senate Republicans blocked a bipartisan border security and immigration bill for a second time this year, at the Capitol in Washington, Thursday, May 23, 2024. FILE - Pioneer Natural Resources Midland headquarters office is shown on Jan. 13, 2021, in Midland, Texas.

The letter calls for the Justice Department to launch an industry-wide investigation into possible violations of the Sherman Antitrust Act. It outlined how “Big Oil’s alleged collusion with OPEC is a national security concern that aids countries looking to undermine the U.S.,” including Russia and Iran.

The letter by Senate Democrats was the latest in a series of partisan actions targeting the oil industry.

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