After failed bid to crack down on price gougers last year, #Schumer, #Klobuchar, #Warren, #Sanders want new probe of huge #Exxon & #Chevron oil deals that could lead to higher gas prices, harm to operators, and depress wages.
Exxon's & Chevron's vertically integrated operations may harm smaller competitors. Both announced huge profits from strong energy prices since #Russia's invasion of #Ukraine. The oil deals could supercharge both companies' outsized political power.
>> The oil deals could supercharge both companies' outsized political power.
The companies already have a great deal of political power.
Don't forget that #Trump appointed chairman of #Exxon, Rex #Tillerson, as his Secretary of State. Prior to his appointment by Trump, Tillerson made business deals with #Russia on behalf of Exxon. After his appointment, he opposed US #sanctions against Russia. Halfway through his term Trump fired Tillerson on soured relations.
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