Central Louisiana News

WASHINGTON – U.S. Senators Bill Cassidy, M.D. (R-LA), U.S. Senate Commerce Committee Ranking Member Ted Cruz (R-TX), Senate Republican Leader Mitch McConnell (R-KY), Senate Judiciary Committee Ranking Member Lindsey Graham (R-SC), and 34 Republican colleagues have criticized Senate Democrats for what they perceive as political interference in the review of oil and gas mergers.

In a joint statement, Cassidy, Cruz, McConnell, and Graham, along with their fellow Republican senators, called on the Federal Trade Commission (FTC) to conduct a fair and unbiased assessment of recent oil and gas mergers. They accused Senate Democrats of making misleading and false claims in their request for the FTC to investigate these mergers. The Republicans emphasized the importance of the review being based on facts, economic realities, and legal precedent.

The group of senators highlighted the need for the FTC to adhere to a fair and unbiased standard in evaluating the mergers, focusing on protecting consumers and avoiding the imposition of policy preferences for political purposes. They expressed concerns about the potential consequences of using antitrust investigations to further an agenda aimed at ending fossil fuel production.

Referring to a previous letter from Senate Democrats urging the FTC to investigate oil and gas mergers, the Republican senators underscored the importance of applying relevant facts and antitrust precedent objectively. They criticized the Democrats' claims about the mergers' impact on climate science and legislation, emphasizing the need for a thorough and factual analysis.

The Republican senators raised issues with their Democratic counterparts' opposition to the mergers, pointing out that increased oil and gas production could lead to lower costs for consumers and enhance energy security. They cautioned that blocking the mergers could result in higher global emissions of greenhouse gases and a reliance on foreign energy sources with potentially higher environmental impacts.

In conclusion, the senators reiterated their call for the FTC to conduct a fair review of the mergers based on factual evidence and economic considerations, rather than political motivations. They emphasized the importance of upholding the rule of law and due process in the evaluation of these significant energy industry transactions.