While Chuck Schumer leads Democrats in a push to put oil and gas mergers in the FTC’s sights, Mitch McConnell and senate Republicans are pushing back.
Last November, Chuck Schumer and 22 of his democrat colleagues sent a letter to FTC chairwoman Lina Khan expressing their disapproval of two major oil and gas mergers underway. Specifically, they took issue with ExxonMobil’s announcement that they would be acquiring Pioneer Natural Resources in a $60 billion deal and Chevron’s announcement that they would be acquiring Hess Corporation in deals respectively worth $60 billion and $53 billion
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