House Dems launch probe into alleged oil price collusion

By Ben Lefebvre | 05/22/2024 01:48 PM EDT

The development follows Federal Trade Commission scrutiny of a former industry executive.

Rep. Frank Pallone (D-N.J.).

House Energy and Commerce ranking member Frank Pallone (D-N.J.) on Capitol Hill. Francis Chung/POLITICO

House Energy and Commerce Committee Democrats said Wednesday they are launching an investigation into whether oil companies colluded with OPEC to fix fuel prices.

Ranking member Frank Pallone (D-N.J.) said Democrats on the committee are seeking communications from seven oil companies between their current or former employees involved in developing oil production plans and representatives of the oil production cartel OPEC+.

They also want a list of meetings between each company and representatives of OPEC+ and a list of meetings between each company and competing U.S. oil producers.


The companies include Occidental Petroleum, BP America, Shell USA, Chevron, Occidental Petroleum, Devon Energy and Hess.