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US Democrats propose bill to hold oil companies accountable for dealings with OPEC

WASHINGTON: Democratic US lawmakers on Wednesday introduced a bill to hold energy companies accountable if federal regulators find they colluded with the Organization of the Petroleum Exporting Countries to raise oil prices. The bill, introduced by Sen. Edward Markey and Rep. Nanette Barragan, says that if any energy company is found by the Federal Trade Commission to have colluded with OPEC, it would no longer be eligible for new oil and gas leases on federal lands and waters. What is the background? In May, the FTC accused Pioneer Natural Resources CEO Scott Sheffield of exchanging hundreds of messages with OPEC