Schumer, Democrats urge Justice Department to prosecute alleged oil industry collusion, price-fixing

By MATTHEW DALY
Associated Press

WASHINGTON (AP) — Senate Majority Leader Chuck Schumer and 22 other Democratic senators are calling on the Justice Department to prevent and prosecute alleged collusion and price-fixing in the oil industry. Democrats say in a letter to Attorney General Merrick Garland on Thursday that alleged price-fixing by American oil executives and OPEC officials led to higher energy costs for consumers. The Federal Trade Commission says a former CEO of Pioneer Natural Resources colluded with OPEC and OPEC+ to potentially raise crude oil prices. Dallas-based Pioneer says it disagrees with the allegations. The American Petroleum Institute lobbying group says U.S. producers have “answered the call to meet growing energy demand.”