Exxon and Chevron, two Big Oil giants, want to get even bigger. Exxon is attempting to buy up Pioneer Natural Resources for $60 billion. Chevron is trying to purchase Hess for $53 billion.1
That’s why Senator Elizabeth Warren sent a letter to the Federal Trade Commission (FTC) recently asking the agency to protect consumers and workers by reviewing these potential blockbuster mergers.2
These would be two of the largest Big Oil mergers in the last two decades. The deals would give two giant corporate polluters, who are already punishing consumers at the pump, even more power. The FTC must act and stop Exxon and Chevron from getting even bigger.
Sign the petition: Urge the FTC to halt Exxon and Chevron’s runaway corporate consolidation. Stop these $50+ billion Big Oil mega-mergers!
These mega-mergers will very likely reduce competition in the oil and gas industry, leading to even higher prices for consumers, worse labor conditions for workers, and a dangerous concentration of power in a dangerous industry.
Let’s just look at Exxon for a moment. Exxon knew about the climate crisis in the 1970s, but that didn’t stop the oil giant from continuing its fossil fuel production.3 Exxon’s predictions about warming temperatures were “remarkably accurate."4 Despite having this knowledge, Exxon kept on drilling for oil AND publicly cast doubt on climate science for years.5
Exxon and Chevron are ramping up fossil fuel production at a time when the science and the reality of climate change are clear. We can’t let Big Oil giants get even more powerful as the climate crisis intensifies.
Add your name: Put consumers, workers, and the environment first. Stop Exxon and Chevron’s Big Oil mega-mergers.
Sources:
- Senate Democrats, “Letter to FTC re: Exxon-Pioneer,” November 1, 2023.
- Senator Elizabeth Warren on Twitter, “Big Oil companies rake in billions by...” November 1, 2023.
- New York Times, “Exxon Scientists Predicted Global Warming, Even as Company Cast Doubts, Study Finds,” January 12, 2023.
- Ibid.
- Ibid.
