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SaltWire's Atlantic regional weather forecast for November 1, 2023 | SaltWire - U.S. Senate Majority Leader Charles Schumer on Wednesday urged the U.S. Federal Trade Commission to consider possible anti-competitive harms stemming from recent multi-billion dollar acquisitions by oil and gas giants Exxon Mobil and Chevron Corp.
The Democratic Senate leader said in a letter that the two of the largest oil and gas deals of this century are"likely to harm competition." Chevron and Exxon have accumulated huge profits from strong energy prices and demand since Russia's invasion of Ukraine.
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