SE North Carolina News

Senator Ted Budd of North Carolina has added his voice to a letter criticizing Senate Democrats for what is perceived as political interference in the review of oil and gas mergers. The letter, led by Senator Ted Cruz of Texas and signed by a total of 38 Senators, calls on the Federal Trade Commission (FTC) to ensure a fair and impartial assessment of recent energy industry mergers.

The letter emphasizes the importance of conducting merger reviews based on factual evidence and legal standards that safeguard consumers without being swayed by political motivations. It highlights concerns that some Democratic senators are attempting to influence the FTC's decisions by disregarding relevant facts and antitrust precedents.

One notable aspect of the letter is the contention that opposition to these mergers stems from the potential increase in oil and gas production they would bring about. The signatories argue that greater production could lead to lower costs for consumers and enhance the nation's energy security.

While acknowledging that environmental considerations are important, the letter underscores the economic benefits of expanded production and cautions against actions that could result in higher global greenhouse gas emissions. It also criticizes what it perceives as a double standard, with the Biden administration's policies potentially contributing to higher energy prices and reduced industry competitiveness.

In closing, the letter calls for a thorough and objective review of the mergers, emphasizing the need for the FTC to adhere to legal principles and due process rather than succumbing to partisan influences. The signatories stress that the oil and gas industry, like any other sector, should not be unfairly targeted for political ends.

The letter's message is clear: a transparent and unbiased evaluation of these mergers is essential, guided by facts, economic realities, and established legal frameworks. It aims to ensure that the regulatory process remains free from undue political pressures and serves the interests of American consumers and industry stakeholders.