Overview

• Senate Democrats request DOJ investigate alleged collusion and price-fixing in the oil industry.
• FTC uncovered evidence of Pioneer Natural Resources' former CEO colluding with OPEC to raise oil prices.
• Alleged collusion may have cost American households up to $500 per car annually in fuel costs.
• Oil companies earned over $300 billion in profits in two years, raising concerns of corporate profiteering.
• Calls for DOJ action to protect consumers and ensure accountability for potential violations of antitrust laws.