Regulators vs. Roughnecks: Scott Sheffield’s War with the FTC

Scott Sheffield, oil industry legend or convenient scapegoat? The FTC sure has opinions, and so does Russell Gold. Chuck sits down with the Texas Monthly senior editor to unpack the wild allegations that Sheffield was secretly cozying up to OPEC. Was the guy who helped turn the Permian into an oil superpower really playing both sides, or is this just another case of regulators picking a high-profile target? They dig into Sheffield’s legacy at Pioneer, the politics of energy regulation, and why industry leaders always seem to end up in the hot seat. Plus, a look at how Texas Monthly is helping bring the oil world to Hollywood with Taylor Sheridan’s new series, *Landman.*

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Click here to view the episode transcript.

00:00 - Intro
01:05 - Importance of Scott Sheffield Story
02:51 - ExxonMobil Acquisition of Pioneer Background
04:44 - FTC Investigation of Acquisition
06:44 - FTC Press Release & Sheffield's Response
12:45 - Price Control Power in Oil Industry
15:14 - COVID Impact on Prorating Oil
18:28 - Oil Policy Discussions
19:20 - Evidence from FTC Investigation
23:07 - Scott Sheffield as Political Scapegoat
24:44 - Creating Oil and Gas Industry Heroes
28:57 - Texas Monthly & Landman Connection
29:55 - Boomtown and Landman Insights
30:50 - Earthquake Impacts on Oilfields
33:10 - Life in the Oilfield
33:55 - Issues of Oil Theft
35:35 - CSI in the Permian Basin
37:20 - Jerry Jones in Oil and Sports
40:20 - Episode Wrap-Up

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