Big Oil giants Exxon and Chevron want to get even bigger – in a mergers scheme so big, it threatens the whole planet.
Exxon is attempting to buy up Pioneer Natural Resources for $60 billion. Chevron is trying to purchase Hess for $53 billion. Fortunately both mergers are being scrutinized by the Federal Trade Commission (FTC), and a growing list of elected officials are calling on President Biden and his administration to block the deal.
These would be two of the largest Big Oil mergers in decades. And we’ve been warning you about Big oil Vs the World all year. The deals would give two giant polluters even more power to pollute and are part of Big Oil’s plans to continue to profiteer off the wars in Ukraine and Gaza. Mega-mergers always reduce competition in the oil and gas industry, leading to higher prices, worse labor conditions, and a dangerous concentration of power and money in the hands of fossil fueled fascists that Trump is actively courting for support.
That’s why anti-trust critics like Senator Elizabeth Warren are calling on the FTC to review these mergers. Let’s just look at Exxon for a moment. Exxon knew about the climate crisis in the 1970s, but that didn’t stop the oil giant from continuing its fossil fuel production. Exxon’s predictions about warming temperatures were “remarkably accurate.” Despite having this knowledge, Exxon kept on drilling for oil AND publicly cast doubt on climate science for years.
Exxon and Chevron are ramping up fossil fuel production at a time when the science and the reality of climate change are clear. We can’t let Big Oil giants get even more powerful as the climate crisis intensifies.
Sign here to tell President Biden and the FTC : Stop these $50+ billion Big Oil mega-mergers!