Illustration: Natalie Peeples/Axios
Senate Majority Leader Chuck Schumer is asking for yet another Justice Department probe of oil companies.
Why it matters: Democrats are escalating a series of allegations about industry misconduct, as they stare down summer gasoline prices ahead of the election.
The big picture: This request — and a separate joint investigation from the Budget and Finance committees — could eventually uncover misconduct or embarrassing internal information. But for now, the investigations are going to be limited.
- There's no guarantee DOJ will take up the investigations. And while Senate committees could issue subpoenas, they'd need 60 votes to enforce them.
- The important question is how deeply Democrats will pursue this after the election — if they win.
Driving the news: Schumer said today he plans to send a letter to the Justice Department next week "calling on them to investigate and prosecute collusion and price fixing that may have increased gasoline, fuel and energy costs."
- The probe, he said, should be "based on the report done by the FTC" when the agency allowed the $60 billion Exxon-Pioneer merger.
- Regulators kept ex-Pioneer CEO Scott Sheffield off the board and alleged that he attempted to collude with OPEC+ officials to reduce output.
Zoom in: Budget and Finance are looking into former President Trump asking oil executives for $1 billion in exchange for regulatory rollbacks.
- Top Dems are also trying to get DOJ to take up the Hill investigation of oil greenwashing and the industry's role in spreading misinformation about climate change.
The other side: API spokesperson Andrea Woods dismissed the new committee investigation as a political stunt and said the group's "policy priorities are clear."
