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Schumer Urges FTC To Halt Chevron-Hess $53B Merger Over Fear Of Gas Price Hike
Senate Majority leader Chuck Schumer has called on the Federal Trade Commission (FTC) to "pump the brakes" on Chevron Corp's proposed $53 billion acquisition of Hess Corp. Schumer, who has previously advocated for heightened scrutiny of large-scale oil mergers, took to the social media platform X to urge the FTC to stop the deal. "I'm sounding the alarm against yet another proposed Big Oil merger—a $53B deal between Chevron and Hess," he posted. "It would give Big Oil more fuel to raise gas prices." "Trump might be hosting dinners for Big Oil execs, but the FTC should side with consumers and pump the breaks on ... (full story)