Arlen Specter: “the Judiciary Committee, which I chair, has from time to time examined the implications of mergers, acquisitions, and…”

“the Judiciary Committee, which I chair, has from time to time examined the implications of mergers, acquisitions, and joint ventures among companies affecting various fields in the American economy. Just a few days ago, a major proposal reached public view in the telephone industry. There have been major acquisitions and mergers in many lines of commerce, and there is special concern at the present time about the impact of acquisitions and mergers of major oil companies on the price of gasoline, which has soared for American consumers. I have been concerned about the actions of OPEC over the years in limiting production and undertaking joint actions which really violate the spirit of competition and increase the cost of oil. I ask unanimous consent that at the conclusion of my comments, letters that I sent to the President as far back as the Clinton administration, and that I sent to President Bush, outlining the judge- made laws which have given OPEC immunity under our antitrust laws be printed in the Record. The PRESIDING OFFICER. Without objection, it is so ordered. (See exhibit No. 1.) Exhibit 1 U.S. Senate, Washington, DC, April 11, 2000. President William Jefferson Clinton The White House, Washington, DC. Dear Mr.…”