"Democratic representatives cite evidence of antitrust violations stemming from FTC investigation of ExxonMobil and Pioneer merger."
"A dozen Democratic lawmakers on the House Natural Resources Committee want to know if shale drillers could see their oil and gas leases and operations on federal lands suspended amid allegations that the companies may have colluded to drive oil prices up.
“Such market manipulation would have enormous impacts on the price of gas paid by working families across the country,” the lawmakers wrote in a July 9 letter to the Department of the Interior.
The lawmakers, who include Democratic representatives like Arizona’s Raul Grijalva and California’s Katie Porter, cited evidence that the Federal Trade Commission uncovered during its roughly six-month review of an ultimately successful merger between ExxonMobil and Permian shale giant Pioneer Natural Resources, and class action litigation alleging at least eight major shale producers engaged in antitrust violations.
The letter to Interior calls attention to federal rules that let the government suspend or break off contracts with companies that engage — or are suspected of engaging — in a wide range of wrongdoing, including antitrust violations."
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