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The Federal Trade Commission (FTC), led by Commissioner Slaughter, has accused Exxon Mobil and other oil companies of colluding to price gouge consumers, as part of a broader investigation into oil price manipulations that has called for extended HSR timelines. In related developments, a federal judge in Nevada is being asked by plaintiffs in an antitrust class action to compel Pioneer Natural Resources to release communications involving its former CEO Scott Sheffield, which were previously shared with the FTC. This request follows the FTC's approval of Exxon Mobil's $64 billion acquisition of Pioneer. The controversy has sparked significant market responses and discussions about the role of antitrust in regulating industry practices.
The FTC Smears Scott Sheffield - WSJ Lina Khan’s agency trashes an oil executive on dubious evidence.
NEW: @mattyglesias & other "permitting reform” advocates say regulations preclude “energy abundance” at expense of consumers, but FTC’s revelation of an oil price-fixing scheme places blame where it belongs: on the profit-maximizing fossil fuel industry.🧵 https://t.co/h0xxxWltFa
Consumers asked a federal judge in Nevada to force Pioneer Natural Resources to hand over communications involving its embattled former CEO Scott Sheffield that it gave to the FTC. The FTC last week approved Exxon Mobil’s $64 billion purchase of Pioneer https://t.co/BJ1U0NhGNG https://t.co/T7x0g7viZI
