CNN:
Regulators acknowledged that [the CEO] did not hide his efforts to “align” US production with that of OPEC, pointing to public comments he made urging US rivals to be “disciplined” about production.
“But [the CEO] did not limit himself to public signaling to US counterparts — he has also held repeated, private conversations with high-ranking OPEC representatives assuring them that Pioneer and its Permian Basin rivals were working hard to keep oil output artificially low,” the FTC said.
The Federal Trade Commission recently uncovered another underlying cause: an orchestrated plot between OPEC and an American fracking tycoon to exploit the inflationary period to push prices even higher. That was arguably even more critical to the overall price-fixing scheme, because the U.S., since the fracking boom of the mid-2010s, is the largest oil producer on Earth, and the “swing” producer with the greatest ability to move prices.
This scheme cost the average American as much as $2,100 a year, according to one estimate.
...
He’s also been a major heavyweight in Washington for the oil and gas industry across Democratic and Republican administrations. Though mostly a GOP mega-donor, it should come as no surprise that [he] has financed the political careers of Big Oil’s most loyal foot soldiers in Congress regardless of party
...
the FTC could still push for a criminal case against him for collusion