Senate Majority Leader Schumer urges FTC to halt Chevron's $53bn acquisition of Hess Corp, raising concerns over higher gas prices due to mergers.
Senate Majority Leader Chuck Schumer urges FTC to halt Chevron's $53bn proposed acquisition of Hess Corp, expressing concerns that the deal would give oil majors more leverage to raise gas prices. Schumer has previously called for greater scrutiny of major oil mergers and has expressed concerns about potential higher consumer prices due to oil and gas giants' mega acquisitions. Chevron and Hess have not commented on the request.
May 13, 2024
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