Schumer and other Senate Democrats call for a federal probe of huge oil deals by Exxon and Chevron

November 1, 2023


Senate Majority Leader Chuck Schumer and 22 other Democratic senators are urging federal regulators to investigate multibillion-dollar acquisitions by oil giants ExxonMobil and Chevron, saying the deals could lead to higher prices at the gas pump. In a letter Wednesday to the Federal Trade Commission, the lawmakers said Exxon's proposed $60 billion acquisition of Pioneer Natural Resources and Chevron’s proposed $53 billion purchase of Hess Corp. are two of the largest petroleum deals in U.S. history and could violate antitrust law.

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