Senate Democrats, led by Chuck Schumer, are calling for the Federal Trade Commission (FTC) to investigate the proposed mergers between Exxon Mobil and Chevron. The lawmakers argue that these mergers would harm competition, reduce domestic oil supplies, and potentially lead to higher gasoline prices. Refiners are currently selling gasoline at minimal profits. The FTC is being urged to launch antitrust probes into the megadeals.
Senate Democrats are urging the FTC to launch antitrust probes of the ExxonMobil and Chevron megadeals. https://t.co/dyjRLuEVPy
Heard on the Street: Refiners are selling gasoline for barely any profit right now https://t.co/u8XBPDKXBv
Democrats Seek Probe Into Exxon And Chevron Mega Deals https://t.co/ah0f7wngbC
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. https://t.co/DXt8qQkiOt
Chuck Schumer leads 23 senators in demanding FTC probe of oil industry mergers https://t.co/eh3SvB8XY4 https://t.co/f0Yn8rc1G1
SCHUMER SAYS BIG OIL MERGERS CAUSE PRICE HIKES FOR AMERICANS