VDE - FTC to target oil and gas mergers gas station prices - Bloomberg

The Federal Trade Commission is examining ways to crack down on oil and gas industry mergers and acquisitions as well as investigate whether gas station franchise networks are driving up gas prices, Bloomberg reports. FTC Chair Lina Khan is directing staff to identify new legal theories to challenge retail fuel station mergers and investigate possible collusion by national chains to push up prices, according to the report, which cites a recent letter to White House economic adviser Brian Deese. Khan said in the letter and the FTC's desire to toughen requirements was caused by "significant consolidation" in the industry during recent years, but the decision also comes as gasoline prices have become a political liability for President Biden. ETFs: XLE, XOP, VDE, GUSH, OIH, ERX The president's concerns likely will be increased by concerns that Hurricane Ida could further raise prices at the pump, as gasoline futures rose sharply today

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FTC to target oil and gas mergers, gas station prices - Bloomberg