Senior Capitol Hill Democrats launch new investigation of oil companies and urge DOJ to launch another

Senior Capitol Hill Democrats are ramping up their scrutiny of oil companies, with new investigations and calls for action from the Justice Department. The moves come at a time of industry consolidation and rising oil prices, making the stakes even higher.

Senate Budget Chairman Sheldon Whitehouse has formally requested that the DOJ investigate decades of alleged deception and disinformation on climate change by major oil companies. This request is supported by Rep. Jamie Raskin, based on a thorough investigation by both committees.

In a separate development, House energy committee ranking member Frank Pallone has reached out to seven oil firms, including Chevron and BP America, regarding potential contacts with OPEC+ and other U.S. producers. This comes on the heels of the FTC’s claim that former Pioneer Natural Resources CEO Scott Sheffield engaged in collusive activity with OPEC+ representatives that could impact prices.

While Pioneer and Exxon have denied these allegations, the scrutiny from Capitol Hill continues. The American Petroleum Institute has dismissed the DOJ request as a “political charade,” emphasizing the industry’s focus on delivering reliable and affordable energy to Americans.

House Democrats may face limitations in their oversight powers, but the potential for deeper investigations looms if they regain control of the chamber. The DOJ has not commented on the requests for action.

As the spotlight on oil companies intensifies, the industry faces increased scrutiny and potential consequences for their actions. Stay tuned for further developments as Capitol Hill Democrats push for accountability and transparency in the oil sector.