Oil Companies Are Colluding to Raise Gas Prices in America

The FTC uncovered a series of texts between Pioneer Natural Resources CEO Scott Sheffield and OPEC officials agreeing to limit oil production to raise prices.

They raked in huge profits, while their scheme cost consumers $200 billion a year in higher prices.

That’s about $3000 a year per family.
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[TanisC]

So...after the FTC finishes their investigation, then what? Another fine which is a drop in the bucket to these psychopaths? We all know that these people will never see the inside of a jail cell, nor will they break up these corporations.

[AnonymousMusing]

I'd be shocked if they didn't collude. They're that corrupt!

[EcoStu]

This is exactly why corporations love the “left vs right” drama, because the real fight needs to be between the bottom and top (people vs corrupt corporations)

[DonaldMark-nese]

The U.S. economy can actually get better if only the govt can start making better decisions for the sake of it's citizens, cos' they've really made life more difficult for its residents. Hyperinflation has left the less haves bearing the brunt of the burden. Its already eating into my entire $620k retirement portfolio. Like where else can we invest our money with less risks?

[wilberwhateley]

What? Big corporations fixing prices? Shocking…

[donfolstar]

"38 Republican Senators wrote a letter telling her to back off" - there it is, the most important line of this entire video full of important lines.

[NoahKahan]

Oil reserves in the US can provide opportunities for investors to benefit from the performance of the oil industry and potentially earn profits as the country's oil reserves play a significant role in the economy and global energy markets. However, it's crucial to thoroughly research and understand the risks associated with investing in this sector, such as volatility in oil prices, geopolitical factors, and regulatory changes.

[elisegeum]

Companies are not about products and services anymore, it's all about profit shareholders and price gouging because they can.

[sharonrichardson]

If they get any "FINES" They will just pass that cost on to the consumer's!! They need to go straight to jail

[ThatGuy-xghj]

Corporate corruption is a real danger in the United States!

[haska]

Thanks for exposing them like that. The old system needs to change, we cannot go longer like this. Disgusting how a handful of people sets the rest of the world up to chaos

[ericweber]

This is a crime. Good on FTC chair Khan for doing the right thing to try and hold them accountable.

[shanemichael]

Corporate greed will drag the average citizen down, time for boycotting greedy corporations.

[LIndaZak-wgxe]

Their profits TRIPLED in 2021. Profits rose steadily, then in the last quarter of 2022 they reported that their profits had DOUBLED. Yeah. That’s price gouging

[wlr]

This is happening in many different industries these days. Corporate greed is out of control.

[CaliberMr]

For the life of me, I don't understand why the US government keeps subsidizing the oil companies to the tune of billions of dollars.

[JacksonHoulihan]

Now I understand why they want to get rid of Lina Kahn, she’s actually doing a great job.

[waristhewealthy]

It's amazing...they are making billions and they still want more...it's truly a sickness.🤨

[luislora]

The government should sue them for price gouging

[dthtimes]

The FTC is going after companies for price fixing? Can't wait for some judge to rule that large companies are allowed to fix prices as a matter of protected speech.