The lawmakers said allowing Exxon Mobil's and Chevron's deals to proceed would hurt competition, reduce domestic oil supplies, and could raise gasoline prices.
A group of mostly Democratic senators led by Majority Leader Chuck Schumer are urging Federal Trade Commission Chair Lina Khan to closely scrutinize two proposed multibillion-dollar deals in the oil sector for their potential consequences for U.S. consumers.
Because Exxon Mobil and Chevron are already the two largest corporate giants in the industry, “any further consolidation could harm American consumers,” the lawmakers wrote in a letter to Khan. Exxon Mobil said in an email to Barron’s that the two companies combined represent about 5% of U.S. oil production.
The senators noted that after more than 2,600 mergers in the U.S. petroleum industry in the 1990s, including Exxon’s merger with Mobil in 1999 and Chevon’s merger with Texaco in 2001, higher gasoline prices resulted. ExxonMobil is the nation’s largest oil-and-gas corporation, and Pioneer owns more drilling acreage than any other producer in Texas’ Permian Basin, the world’s most prolific oil-and-gas field. After their merger, the combined company could produce “a staggering 1.2 million barrels per day,” more than twice that of its next competitor, the letter said.
日本 最新ニュース, 日本 見出し
Similar News:他のニュース ソースから収集した、これに似たニュース記事を読むこともできます。
Schumer, Democrats call for FTC probe of Exxon, Chevron acquisitionsSenate Majority Leader Chuck Schumer and 22 Democratic senators sent a letter to the FTC calling for an antitrust probe of acquisitions by ExxonMobil and Chevron.
続きを読む »
US Senator Schumer urges FTC to probe Exxon, Chevron mega-dealsUS Senator Schumer urges FTC to probe Exxon, Chevron mega-deals
続きを読む »
Why Exxon and Chevron’s Deals Leave Investors ColdUnderwhelming results and doubts about recent deals weigh on the oil companies’ shares
続きを読む »
Chevron-Hess Deal on Track Despite Chevron Stock DropCEO John Hess is publicly enthusiastic about the deal, and it would be tough for another bidder to emerge given Hess’s size.
続きを読む »
Kari Lake says ‘disaffected’ Democrats and independents are key to her Arizona Senate bidCami Mondeaux is a congressional reporter. She started with the Washington Examiner as a copy editor, later joining the breaking news team and eventually settling on the Congress beat. A Utah native, Cami graduated from Westminster College in Salt Lake City in 2021 and covered state government as a breaking news reporter for KSL News Radio.
続きを読む »
Senate Democrats plan to subpoena Harlan Crow and Leonard Leo over Supreme Court justices' travelSenate Democrats say they will subpoena Republican megadonor Harlan Crow and conservative activist Leonard Leo for more information about their roles in organizing and paying for luxury travel for Supreme Court justices
続きを読む »