US Oil producers withheld prod. to DRIVE UP OIL PRICES BY COORDINATING WITH #OPEC.
-h/t M Stoller
Exxon is set to close its $60B deal for Pioneer following an agreement with #antitrust enforcers not to add fmr Pioneer Chief Exec Sheffield to its BOD.
Fmr Pioneer CEO Sheffield would often publicly signal to US producers -they should hold back pumping more oil & gas in order to keep prices high.
FTC alleges he also conducted a prv. campaign directly with OPEC officials: serious allegation of collusion to raise prices on Americans at the gas pump -to pad the profits of FF cos. Sheffield has campaigned to org. anticompetitive coord output reductions b/w US crude oil producers -incl. OPEC.
@KimPerales
Fossil fuel industry executives want to get Joe Biden out of office. They know that high oil and gas prices cause broad inflationary pressures.
Trump's morning courthouse campaign rant tried to highlight inflation as killing the USA. The GOP has basically lost immigration as an issue and the economy is going great, so inflation is about all they've got to try to convince Americans to vote for them. Good time to #ElectrifyEverything
Add comment