"In a first-of-its-kind complaint, the state's attorney general, Dana Nessel, accused four fossil fuel majors and the top US oil lobbying group last month of acting as a cartel to stifle the growth of renewable energy and electric vehicles (EVs), while suppressing information about the dangers of the climate crisis. The conduct, the lawsuit alleged, violates federal and state antitrust laws."
"Michigan is facing an energy affordability crisis as our home energy costs skyrocket and consumers are left without affordable options for transportation, Nessel said in a statement. These out-of-control costs are not the result of natural economic inflation, but due to the greed of these corporations who prioritized their own profit and marketplace dominance over competition and consumer savings. Michigan's case specifically targets BP, Shell, Chevron and Exxon Mobil, as well as the largest US oil lobby group, the American Petroleum Institute (API)."
Michigan filed a first-of-its-kind antitrust complaint accusing BP, Shell, Chevron, ExxonMobil and the American Petroleum Institute of acting as a cartel to stifle renewable energy and electric vehicle growth while suppressing information about climate dangers. The complaint alleges the companies' collusion violated federal and state antitrust laws, drove up utility costs and slowed the transition from gas-powered cars. Average residential electricity rates in Michigan rose nearly 120% over two decades. EVs and hybrids comprised less than 4% of registered vehicles statewide last year. The attorney general described the energy affordability crisis as driven by corporate greed prioritizing profit and market dominance over competition and consumer savings.
Read at www.theguardian.com
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