The U.S. regulator Federal Trade Commission is examining oil and gas Mergers and acquisitions in the wake of rising fuel prices. Also, the oil and gas Mergers and acquisition decision comes as the prices are expected to hike in the coming weeks due to hurricane Ida. The hurricane has forced the closure of almost 90% of oil drilling facilities.
U.S. Bureau of Safety and Environmental Enforcement informed that floating rigs have also been cleared out. It stated, more than 80% of natural gas production sites have been closed. Natural gas refineries in Louisiana account for 1/5th of the refining capacity of the natural gas in the United States.
The FTC, under the leadership of Chair Lina Khan, is targeting Mergers and acquisitions in the oil and gas industry. It is examining whether the retail fuel station networks are responsible for the increasing gas prices. The FTC is finding new legal theories to challenges the and acquisitions of retail fuel networks. The FTC plans to challenge the oil gas Mergers also in the retail oil and gas markets. Moreover, the FTC will investigate the abuses in the retail stations of oil and gas.