A Federal Trade Commission (FTC) probe into a U.S. oil corporation executive’s alleged attempt to conspire with the Organization of Petroleum Exporting Countries (OPEC) to manipulate global petroleum markets is spurring calls for a broader federal investigation into possible “price-fixing schemes.”
Senate Budget Committee Chair Sen. Sheldon Whitehouse (D-R.I.) on June 27 announced his office has launched an investigation into claims of “collusive, anti-competitive” activities between 18 U.S. oil producers and OPEC to “artificially raise prices on American consumers and increase costs for the federal government.”
