Statement on Chevron’s Proposed Buy Out of Hess Oil
FOR IMMEDIATE RELEASE: October 23, 2023
CONTACT: Ashley Woolheater, woolheater@openmarketsinstitute.org
WASHINGTON – Open Markets Executive Director Barry Lynn released the following statement on Chevron & Hess Oil:
"Today's news that Chevron is moving to take control of Hess Oil, coming soon after Exxon's announcement of plans to acquire Pioneer Natural Resources, demands a swift response from U.S. law enforcers. The two corporations already exercise far too much control over everything from the price of the gasoline in your car and the natural gas in your furnace to the speed and nature of exploration and innovation in new and alternative sources of supply. The proposed deals mean higher prices for every American and harder days for U.S. manufacturers and farmers. Even worse, they pose a variety of threats to the energy security and national security of the United States and our closest allies, and to the resiliency of local energy systems. They should both be blocked."
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