Root Out Corruption in the Oil Market

Sign petition to the Department of Justice

The Department of Justice Oil and Gas Price Fraud Working Group was established to root out fraud and manipulation in the oil market that could be contributing to high gas prices.

To date, it has failed to produce any findings to the public.

We need the working group to root out anti-competitive and collusive behavior by the big banks and other oil sector actors that result in higher prices for families and report back to the American people.

Sign on to the petition below to tell the Department of Justice: Root out corruption in the oil market.

We, the undersigned, call on the Oil and Gas Price Fraud Working Group to stop fraud and market manipulation in the oil and gas sector. Agencies represented on the working group have existing authority to root out fraud and market manipulation by financial speculators and other oil sector stakeholders.

Use your existing authority and legal tools to investigate the role of illegal practices on rising gas prices. Further, make the status and findings from the Oil and Gas Price Fraud Working Group investigation accessible to the public.

High gas prices are harming working American families and hampering our economic recovery. You have the mandate and authority to protect consumers from the criminal practices of financial institutions and other oil market actors.

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Background


In response to a huge spike in gas prices last spring, President Obama announced the creation of a new working group instructed to root out fraud and manipulation in the oil market that could be contributing to high gas prices.

The Oil and Gas Price Fraud Working Group is housed under the Financial Fraud Enforcement Task Force within the Department of Justice.

In an April 2011, memo to the working group, Attorney General, Eric Holder requested that the agencies collectively exercise their authority to crack down on illegal activity in the oil market.

In March 2012, President Obama asked Attorney General Eric Holder to "reconstitute" the task force.

Public Citizen is calling on the working group to exercise its authority to protect consumers from the criminal practices of financial institutions and other oil market actors and provide a status of its investigation for public review.

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