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AP National

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

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Published 4:45 AM

By MATTHEW DALY
Associated Press

WASHINGTON (AP) — 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. Democrats say in a letter to Attorney General Merrick Garland on Thursday alleged price-fixing by American oil executives and OPEC officials led to higher energy costs for consumers. The Federal Trade Commission says a former CEO of Pioneer Natural Resources colluded with OPEC and OPEC+ to potentially raise crude oil prices. The FTC cleared Exxon Mobil’s $60 billion deal to buy Pioneer but barred the former CEO from joining the new company’s board of directors. Dallas-based Pioneer said it disagreed with the allegations.

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