Dear John,

The top two Big Oil corporations, ExxonMobil and Chevron, want to get even bigger -- bad news for the economy, your wallet, and the environment.

The good news: the Federal Trade Commission (FTC) can stop these mergers if we act now!

At this time, in response to an urgent letter from Senate Majority Leader Chuck Schumer, Senators Elizabeth Warren, Bernie Sanders, and twenty other Democratic senators, the FTC has opened an investigation into ExxonMobil’s bid to acquire Pioneer Natural Resources (PNR) for $60 billion. If approved, this would be the biggest Big Oil merger in the last twenty years.

In addition, the senators are asking the FTC to look into Chevron’s proposed $53 billion acquisition of Hess Corporation. Like the PNR merger, this would be one of the biggest petroleum deals in U.S. history, but there is no indication at this time whether the FTC plans to investigate it.

Sign and send your official comment now: Tell the FTC to block the Exxon and Chevron mega-mergers, which would deepen America’s carbon footprint and consolidate their domination of the fossil fuels market.

The FTC, along with the Justice Department, is responsible for enforcing antitrust law. That means the FTC could stop either or both of these mergers before they result in reduced competition, higher gas prices, lower wages, and increased reliance on fossil fuels.

Exxon, already the largest oil company in the U.S., reported $9.1 billion in profits in the third quarter of 2023, and Chevron reported $6.7 billion in the same quarter. These hefty profit margins are signs of the enduring effects of Big Oil mergers in the past: when Exxon sucked up Mobil, they were able to limit oil supplies and jack up prices. If the FTC does not block these new mergers, further consolidation is guaranteed to harm consumers.

Exxon and Chevron are looking to dig more carbon out of the ground, at a time when we already know, whatever comes out of the ground is going to end up in the atmosphere, worsening the greenhouse effect that is now firmly established science. Increasing the power of these companies in the marketplace will only exacerbate the climate crisis.

Demand the FTC take action to stop the ExxonMobil and Chevron mergers today! Please sign and send your message now.

Thank you for drawing the FTC’s attention to these mergers and pointing the country toward a fossil fuel-free future.

Robert Reich
Inequality Media Civic Action