FTC to Examine Anti-competitive allegations against Big Oil PDF Print E-mail
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Written by Grassley Press   
Monday, 26 August 2013 11:56
Thursday, August 22, 2013

Klobuchar, Grassley: FTC Will Examine Allegations of Possible Anti-Competitive Practices by Oil Companies, Good News for Consumers

In a letter, FTC Chairwoman Edith Ramirez assured the senators that the FTC will evaluate concerns that oil companies may be undermining efforts to distribute renewable fuels that help boost energy security and lower the price of gas for consumers

Recently the senators sent a letter to FTC Chairwoman Edith Ramirez urging the Administration to take action to investigate recent reports indicating this potential anti-competitive behavior by oil companies

Washington, D.C. – U.S. Senators Amy Klobuchar (D, MN) and Chuck Grassley (R-IA) today announced that the Federal Trade Commission (FTC) will examine possible anti-competitive practices by oil companies that limit consumers access to homegrown renewable fuels. Recently, Klobuchar, the chair of the Antitrust Subcommittee and Grassley, the ranking member of the Judiciary Committee, sent a letter to Attorney General Eric Holder and FTC Chairwoman Edith Ramirez urging the Administration to take action to address recent reports indicating that oil companies may be undermining efforts to distribute renewable fuels, including higher ethanol gasoline blends, that help boost our nation’s security and lower the price of gas for consumers.

“Consumers deserve to have access to homegrown renewable fuels that not only lower costs at the pump but also help boost our energy security,” Klobuchar said. “It is imperative that the Administration investigate any possible anti-competitive behavior by the oil companies that might limit consumers’ access to renewable fuels. I’m pleased to see the Federal Trade Commission is taking steps to investigate whether certain practices by oil companies may be impeding competition, and I will continue to work to ensure that Americans can continue to realize the benefits of cheaper, cleaner renewable fuel.”

“The allegations from retailers about possible anticompetitive practices from Big Oil are disheartening, but not surprising, knowing the lengths Big Oil will go to in order to keep biofuels out of the fuel supply,” Grassley said. “It’s going to take an ‘all-of-the-above’ approach to wean the United States off of foreign sources of oil, so it only makes sense that we all work together. I appreciate the FTC taking a look at the allegations and look forward to their conclusions.”

 

In the letter to Klobuchar and Grassley, Ramirez assured the senators that the FTC will evaluate the information provided and address the concerns expressed in the senators’ letter under pertinent antitrust standards.

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