This week, Nick And Goldy are joined by Faiz Shakir, Executive Director of A More Perfect Union, to discuss the shocking revelation of an international oil price-fixing conspiracy. Their conversation explores how the collusion between American oil companies and the foreign nations that make up OPEC significantly contributed to inflation, costing American families between $500 and $1,000 annually. Shakir explains how the Federal Trade Commission uncovered this conspiracy and highlights the urgent need for increased regulatory oversight and harsher penalties to protect consumers from corporate malpractice.
Faiz Shakir is the Executive Director of the nonprofit education, advocacy, and journalism organization, More Perfect Union, and former campaign manager of Senator Bernie Sanders’ 2020 Presidential Campaign. Prior to his work with Senator Sanders, Shakir held various leadership positions within the Democratic Party and progressive organizations, working to advance social and economic justice issues.
Social Media:
@faiz.bsky.social
@fshakir
@perfectunion
@moreperfectunion.bsky.social
@MorePerfectUS
Further reading:
An Oil Price-Fixing Conspiracy Caused 27% of All Inflation Increases in 2021
A 2024 Timeline of Big Oil Greed
House Democrats investigate whether Big Oil colluded with OPEC to inflate gas prices
The Truth Behind the Latest Oil Price-Fixing Scandal
Gas Price Fixing Scandal Grows as Another US Oil Exec 'Caught Colluding With OPEC'
Website: http://pitchforkeconomics.com
Instagram: @pitchforkeconomics
Threads: pitchforkeconomics
Bluesky: @pitchforkeconomics.bsky.social
Twitter: @PitchforkEcon, @NickHanauer, @civicaction
YouTube: @pitchforkeconomics
LinkedIn: Pitchfork Economics
Substack: The Pitch
