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Are Mega Oil Mergers Pumping Up Fuel Prices?

April 26, 2017FUEL mega mergers Oil prices pumping

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Are Mega Oil Mergers Pumping Up Fuel Prices?

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LINDA O`BRYON: Oil prices rose $1.33 to $63.10 a barrel today as top oil and gas company executives were called before the Senate Judiciary Committee to testify on mergers in their industry. There have been over 2,600 mergers in the oil and gas business since 1991, including the combination of ExxonMobil, BP-Amoco and Chevron with Texaco. As Stephanie Dhue reports, some lawmakers blame consolidation for fueling higher gas prices.