Today, Senate Majority Leader Chuck Schumer and his colleagues called on the Justice Department to investigate potential price fixing and collusion across the oil and gas industry. This follows a new investigation by House Energy and Commerce Ranking Member Frank Pallone (D-NJ) that is looking into pricing strategies at seven oil and gas companies. Groundwork’s Director of Policy and Research Bilal Baydoun reacted with the following statement:
“Americans have struggled with rising energy costs over the last few years, trusting that supply chain issues and geopolitical forces were mainly to blame for higher prices. But after the Federal Trade Commission alleged collusion against former Pioneer CEO Scott Sheffield, we know the truth.
“The Department of Justice should investigate and prosecute price fixing and collusion across the fossil fuel industry, and Congress should tax back the industry’s windfalls and give families a refund.”
Email press@groundworkcollaborative.org to speak with one of Groundwork’s experts about the role of corporate power in high prices.