Oxy’s Midcon deal was attacked in Congress.
Two congressmen said Occidental Petroleum’s planned purchase of Midcon, a large pipeline company, could lead to higher natural gas prices. Rep. John Dingell (D-Mich.), chairman of the House Energy Committee, and Rep. James Broyhill (R-N.C.), the committee’s ranking Republican, asked the Federal Trade Commission to disallow the merger unless Midcon agrees to become a common carrier for the gas. Such a move would allow Midcon customers to buy gas directly from producers and prevent a monopoly situation, they said.
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