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Market
Big Oil's Response to House Investigation by 2024
5
Resolution / Starting Odds
Deny any wrongdoing • 25%
Admit partial wrongdoing • 25%
Settle without admission of wrongdoing • 25%
No response • 25%
Public statements or official press releases from the involved oil companies
Story
House Democrats Investigate Big Oil for Price Fixing, Collusion with OPEC, and Suppressing Climate Science
May 22, 2024, 04:48 PM
House Democrats have launched an investigation into whether major oil companies colluded with OPEC to inflate gas prices and engage in price fixing. This probe comes amid rising concerns over gas prices, which have become a significant political issue ahead of upcoming elections. The investigation also follows a recent announcement that the U.S. gas reserve would be sold off as required by law. Additionally, top Congressional Democrats are urging the Justice Department to investigate the fossil fuel industry's role in suppressing climate science. They argue that Big Oil has spent decades sowing doubt about the climate crisis, endangering millions of lives. Democrats also held a briefing on allegations that oil companies suppressed climate science.
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Deny involvement • 33%
Admit minor involvement • 33%
Admit significant involvement • 34%
Deny allegations • 33%
Admit to some wrongdoing • 33%
Remain silent • 34%
Public denial from all companies • 25%
Public denial from some companies • 25%
Admission from some companies • 25%
No public response • 25%
Full cooperation • 25%
Partial cooperation • 25%
Non-cooperation • 25%
Legal challenge against the inquiry • 25%
No actionable evidence found • 33%
Evidence of minor violations found • 33%
Evidence of significant collusion found • 34%
Charges filed • 33%
Settlement reached • 33%
Case dismissed • 34%
No indictments • 33%
Indictments of lower-level executives • 34%
Indictments of high-profile figures • 33%
No action taken • 33%
Fines imposed • 33%
Criminal charges filed • 34%
No violations found • 33%
Minor violations found • 33%
Major violations found • 34%
No significant action • 33%
Recommendations for sanctions • 33%
Formal charges against involved individuals • 34%