Former Pioneer Oil CEO Scott Sheffield - Colluder or Scapegoat?
On May 25, the Federal Trade Commission announced their consent for the planned acquisition of Pioneer Natural Resources by ExxonMobil. It was the largest shale oil and gas merger ever planned.
The consent may not have been a surprise, but one of the conditions was: that former Pioneer Natural Resources CEO Scott Sheffield was prohibited from taking a planned seat on ExxonMobil's board and accused of colluding with other industry players to increase consumer prices and maximize company profits.
Articles began to appear in the media that described the condition, which ExxonMobil did agree to…
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