Schumer Urges FTC to Halt Chevron-Hess Acquisition Amid Concerns

United States Senate Majority Leader Chuck Schumer has raised concerns over Chevron Corp.’s proposed acquisition of Hess Corp., urging the Federal Trade Commission (FTC) to intervene and halt the $53 billion deal. Schumer believes the merger could give ‘Big Oil’ more power to raise gasoline prices, sparking debate over the impact on consumers and market dynamics. The FTC’s scrutiny and Schumer’s opposition highlight the ongoing tensions and regulatory challenges in the oil industry.