In 2016, then-Sen. Michael San Nicolas began a study on allegations two or more gas companies on Guam were colluding on the pricing of gasoline. Then-Attorney General Elizabeth Barrett-Anderson joined him in the inquiry, then he made a request to the Federal Trade Commission to investigate gas prices on the island.
The FTC in 2018, then under the Trump administration, denied his request.
Now as a member of Congress in the Biden era, Congressman San Nicolas is picking up where he left off and has asked the FTC to include Guam in its nationwide investigation of oil and gas prices.
The FTC has responded.
“Thank you for your letter requesting inclusion of Guam in Federal Trade Commission efforts to police unlawful business conduct in oil and gas markets,” FTC chairwoman Lina Khan wrote to Mr. San Nicolas last week. “I appreciate the information you provided in that regard. As I outlined in my August 25, 2021 letter to the Director of the National Economic Council, FTC staff will be ramping up oversight of oil and gas markets to prevent unlawful practices that harm Americans at the pump.”
Ms. Khan asked Guam’s delegate to meet with her staff to further the discussion.
“We started this work in the Guam Legislature when I was a Senator, and were unsuccessful in getting the Congressional office at the time to push the FTC to review our gas price issues on Guam,” said Congressman San Nicolas. “As Guam’s Congressman we are re-engaging the FTC on the issue of Guam gas prices, as they have indicated a nationwide effort is underway to look into oil and gas price manipulation under the Biden Administration, and we are looking forward to working closely with them for Guam gas price activity to finally be evaluated federally,” Congressman San Nicolas continued. “The FTC has responded, and we will keep the community apprised as new information becomes available,” Congressman San Nicolas concludes.