Citing high gas prices, Biden asks FTC to redouble probe of possible ‘illegal conduct’ – Reuters November 17, 2021

I saw this recently on Reuters – Citing high gas prices, Biden asks FTC to redouble probe of possible ‘illegal conduct’: https://www.reuters.com/business/energy/biden-asks-ftc-redouble-probe-possible-illegal-conduct-by-oil-gas-companies-2021-11-17/. Longer article.

By Andrea Shalal and Jarrett Renshaw

WASHINGTON, Nov 17 (Reuters) – U.S. President Joe Biden on Wednesday said there was mounting evidence of anti-consumer behavior by oil and gas companies that is keeping fuel prices elevated, asking the Federal Trade Commission to dig deeper into possible “illegal conduct” in the market.

The White House is pressing on several fronts to try to lower fuel costs, even as tight global oil supply drives gasoline and heating oil prices higher. Retail gasoline prices recently touched seven-year highs as consumer demand has recovered while oil supply remains below pre-pandemic peaks.

Biden in August asked the FTC to investigate possible illegal conduct causing the spike in gas prices, which are contributing to surging inflation. On Wednesday he told FTC Chair Lina Khan in a letter that further action was needed.

–snip–

About Wichita Genealogist

Originally from Gulfport, Mississippi. Live in Wichita, Kansas now. I suffer Bipolar I, ultra-ultra rapid cycling, mixed episodes. Blog on a variety of topics - genealogy, DNA, mental health, among others. Let's collaborateDealspotr.com
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