API Responds To Biden’s Calls For Investigation Into Oil And Gas Industry

On Wednesday, the American Petroleum Institute (API), which represents America’s natural gas and oil industry, responded to President Biden’s call for the Federal Trade Commission to investigate oil and gas companies over rising gas prices. In his letter, Biden said, “[Gasoline] prices at the pump remain high, even though oil and gas companies’ costs are declining.” He continued, “The Federal Trade Commission has authority to consider whether illegal conduct is costing families at the pump. I believe you should do so immediately.” “This is a distraction from the fundamental market shift that is taking place and the ill-advised government decisions


