Nearly 50 Democratic Senators and Representatives are urging the Federal Trade Commission FTC to investigate the recent mergers in America’s oil and gas sector amid concerns that they would harm competition and hurt consumers.
Nearly 50 Democratic Senators and Representatives are urging the Federal Trade Commission FTC to investigate the recent mergers in America’s oil and gas sector amid concerns that they would harm competition and hurt consumers.
In a letter to FTC chair Lina Khan, the Democratic Members of Congress, led by Senate Majority Leader Chuck Schumer, wrote that the recent wave of oil and gas industry consolidation “threatens competition in the industry and could lead to higher prices and fewer choices for businesses across the supply chain, suppress worker wages, and make heating, cooling, and gas at the pump more expensive for consumers.” The lawmakers urge the FTC to fully investigate the announced mergers and oppose any acquisitions if it determines them to be in violation of antitrust law. “Contrary to disinformation spread by industry groups, these deals are not about efficiency, international competitiveness, or lowering costs; they are designed to pump more profits out of Americans’ pockets – plain and simple,” the Democratic Members of Congress wrote in the lette
Democratic Senators Representatives Federal Trade Commission FTC Investigate Mergers Oil And Gas Sector Competition Consumers
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