On the recordJune 3, 2024
on Big Oil, well, we just finished celebrating the Memorial Day holiday. On one hand, it is a solemn holiday, a remembrance of all who died to protect our country. On the other hand, of course, Memorial Day weekend is an unofficial start to summer. Schools go out on break, families and friends get together, and millions of Americans go on road trips. So it is not hard to feel the frustration, the sheer exasperation felt by millions when America's biggest oil companies rake in record profits but still raise prices at the pump. It is deeply, deeply unfair. And now we have reason to believe that in some cases it may be unlawful. Last week, I joined with my Democratic colleagues calling on the Department of Justice to investigate the oil industry after the Federal Trade Commission uncovered evidence of price fixing and of collusion. According to the FTC, Pioneer Natural Resources--one of the most important producers in the country--may have colluded unlawfully with the foreign nations of OPEC to limit production and artificially boost prices during the early days of the pandemic. Much of the evidence in the FTC's complaint is redacted, but even what is public is very, very troubling.…





