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.
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From LeverNews.com — Lever Time is the flagship podcast from the investigative news outlet The Lever. Hosted by award-winning journalist, Oscar-nominated writer, and Bernie Sanders' 2020 speechwriter David Sirota, Lever Time features exclusive reporting from The Lever’s newsroom, high-profile guest interviews, and expert analysis from the sharpest minds in media and politics.