Senator Specter
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Specter Senator Specter Arlen Specter
Senator Arlen Specter, the chairman of the Senate Judiciary Committee, called the hearings to examine whether mergers in the oil and gas industry had resulted in higher gasoline prices at the pump. He proposed to introduce a bill that would tighten scrutiny on mergers that might hurt competition and would reconsider some of the $14.5 billion tax incentives that were granted to energy companies in last year's energy law. Senator Specter's proposed legislation would also permit the government to take legal action against the Organization of the Petroleum Exporting Countries for fixing oil prices. The chairman of the Senate Judiciary Committee, named Senator Arlen Specter, called the hearings to examine whether mergers in the oil and gas industry had resulted in higher gasoline prices at the pump. Senator Specter said that they know that there have been mergers and that gasoline prices have risen, the Republican of Pennsylvania, said in his opening remarks. He proposed to introduce a bill that would tighten scrutiny on mergers that might hurt competition and would reconsider some of the $14.5 billion tax incentives that were granted to energy companies in last year's energy law.