Wants FTC and Dept. of Justice to examine impacts on competition, consumers
Washington (May 1, 2018) – With news of a proposed merger between Marathon Petroleum Corp. and Andeavor, Senator Edward J. Markey (D-Mass.), a member of the Environment and Public Works Committee, today called on the Federal Trade Commission (FTC) and Department of Justice (DOJ) to review the $23 billion purchase for potential competition and consumer issues. The proposed merger would create the largest oil refiner in the United States, giving Marathon roughly 16 percent of refining capacity nationwide. Under existing law, the FTC and DOJ can determine whether proposed mergers like this would lessen competition or create a monopoly.
“I am concerned that the consolidation of two major refiners into a single entity that would control one-sixth of U.S. refining has the potential to limit competition and potentially expose American consumers to higher prices for gasoline and other domestically refined petroleum products,” writes Senator Markey in his letter to FTC Acting Chairman Maureen Ohlhausen and Assistant Attorney General Makan Delrahim.
A copy of Senator Markey’s letter can be found HERE.