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

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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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