The Federal Trade Commission is allowing ExxonMobil to buy Pioneer Natural Resources, the biggest crude producer in the Permian Basin, on the condition that Pioneer’s founder does not serve on Exxon’s board because of his alleged contact with OPEC. POLITICO’s Matt Daily breaks down the significance of these allegations and how it raises questions about Big Oil. Plus, the Biden administration announced the next $3 billion tranche of funding to help remove lead pipes from drinking water systems.

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Catherine Morehouse is an energy reporter for POLITICO.

Nirmal Mulaikal is a POLITICO audio host-producer.

Annie Rees is a senior audio producer-host at POLITICO.

Gloria Gonzalez is the deputy energy editor for POLITICO.

Matt Daily is the energy editor for POLITICO.

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FTC signs off on Exxon-Pioneer deal — with a big catch