New York CNN —Congressional Democrats are investigating whether leading US oil companies have illegally colluded with one another and with OPEC to inflate prices at the pump, CNN has learned.
The Federal Trade Commission earlier this month accused Sheffield, the founder of Pioneer Natural Resources, of conspiring with OPEC and its allies to boost prices.
Pallone argued that public data suggests US oil producers did not ramp up drilling during the period that Sheffield was trying to influence his rivals.
Pallone sent Exxon additional document demands, including communications between Pioneer employees who were involved in developing production plans and representatives of OPEC and OPEC+.
Sheffield was among the oil CEOs who testified before Pallone’s committee during an April 2022 hearing on Big Oil and gas prices.
Persons:
Frank Pallone Jr, ”, Scott Sheffield, “, ” Pallone, Sheffield, Hess, Pallone
Organizations:
New, New York CNN, Congressional, OPEC, CNN, Committee, Energy, Commerce, ExxonMobil, BP, New Jersey Democrat, Federal Trade Commission, Sheffield, Pioneer Natural Resources, FTC, Oil, Exxon, Chevron, Shell USA, Devon Energy, Big, ”
Locations:
New York, Chevron, Hess, BP America, New Jersey, Texas, OPEC, Russia, colluding, United States, ”, Occidental