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Biden calls on FTC to probe anti-consumer behavior by energy companies as gas prices soar
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cnbc.comPresident Joe Biden is asking the Federal Trade Commission to look into behavior from energy companies as prices at the pump hover around a seven-year high.
In a letter to Chair Lina Khan Wednesday, Biden said there's «mounting evidence of anti-consumer behavior by oil and gas companies.» The letter noted that prices at the pump have remained high despite a decline in the price of unfinished gasoline. «This unexplained large gap between the price of unfished gasoline and the average price at the pump is well above the pre-pandemic average,» the letter said.
The letter added that the «two largest oil and gas companies in the United States» — which are Exxon and Chevron based on market capitalization — are on track to almost double their net
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