Biden asks regulator to look into ‘illegal conduct’ by oil companies

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President Joe Biden has asked a US anti-trust regulator to investigate whether energy companies are ripping off consumers who are angry over sky-high petrol prices. Biden sent a letter to Lina Khan, the head of the Federal Trade Commission, in which he calls attention to “mounting evidence of anti-consumer behaviour by oil and gas companies.” The president compared the pain many Americans were feeling at the pump to the profits being reaped by US oil giants. The letter noted that the “two largest oil and gas companies in the United States” – ExxonMobil and Chevron – are forecast to double thei…

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