FTC to Investigate Allegations of Anti-Competitive Practices by Oil Companies

The Federal Trade Commission is going to examine possible anti-competitive practices by oil companies that limit consumer access to renewable fuels. Senate Antitrust Subcommittee Chair Amy Klobuchar and Senate Judiciary Committee Ranking Member Chuck Grassley recently urged the Administration to take action to address reports indicating oil companies may be undermining efforts to distribute renewable fuels – including higher ethanol blends.

Klobuchar said consumers deserve to have access to homegrown renewable fuels that lower costs at the pump and help boost our energy security. She said it’s imperative for the Administration to investigate any possible anti-competitive behavior by the oil companies that might limit access to renewable fuels. According to Grassley – the allegations from retailers about possible anticompetitive practices by Big Oil are disheartening – but not surprising. He said it’s going to take an all-of-the-above approach to wean the U.S. off of foreign sources of oil – so it makes sense for everyone to work together. Both Senators appreciate that the FTC is taking a look at the allegations – investigating whether certain practices by oil companies may be impeding competition.

Source: NAFB News Service