A series of recent developments have highlighted concerns over potential collusion and price-fixing by major oil companies. The Federal Trade Commission (FTC) uncovered communications between big oil CEO Scott Sheffield and OPEC officials agreeing to limit oil production to raise prices, costing consumers $200 billion annually, or about $3000 per family. Representative Frank Pallone has launched an investigation and is calling for a hearing by the Energy & Commerce Committee to address these allegations. Additionally, Senator Ed Markey and Senator Martin Heinrich have voiced concerns about corporate greed and the impact on American families. In 2022 alone, oil and gas giants made over $400 billion in profits. Democrats are urging the Justice Department to prosecute the alleged collusion and price-fixing within the oil industry.