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What A Fracking CEO’s Text Messages Tell Us About Inflation

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Manage episode 417306851 series 3349109
Content provided by The Lever Podcasts and The Lever. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by The Lever Podcasts and The Lever or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.

Since 2021, economists and pundits have tried to blame inflation on workers and rising wages. But a new bombshell exposé spotlights a different cause: oil companies engaging in an alleged price-fixing scheme with Saudi Arabia and other countries that may have fueled roughly one-third of all U.S. inflation in 2021.

A recent Federal Trade Commission case uncovered text messages and documents suggesting the founder of a big oil company colluded with the Saudi government and other oil-producing countries to keep energy prices high. Another lawsuit alleges multiple American oil companies were engaged in a price-fixing scheme.

Today on Lever Time, Matt Stoller of the American Economic Liberties Project discusses his groundbreaking reporting on the matter — and explains how this alleged collusion could have played a major role in the country’s inflation crisis.

  continue reading

118 episodes

Artwork
iconShare
 
Manage episode 417306851 series 3349109
Content provided by The Lever Podcasts and The Lever. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by The Lever Podcasts and The Lever or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.

Since 2021, economists and pundits have tried to blame inflation on workers and rising wages. But a new bombshell exposé spotlights a different cause: oil companies engaging in an alleged price-fixing scheme with Saudi Arabia and other countries that may have fueled roughly one-third of all U.S. inflation in 2021.

A recent Federal Trade Commission case uncovered text messages and documents suggesting the founder of a big oil company colluded with the Saudi government and other oil-producing countries to keep energy prices high. Another lawsuit alleges multiple American oil companies were engaged in a price-fixing scheme.

Today on Lever Time, Matt Stoller of the American Economic Liberties Project discusses his groundbreaking reporting on the matter — and explains how this alleged collusion could have played a major role in the country’s inflation crisis.

  continue reading

118 episodes

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