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A turning point in competition policy causes a stir

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Robert Habeck

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“We are making antitrust law with claws and teeth,” said the Federal Minister of Economics on Monday.

(Photo: dpa)

Berlin, Dusseldorf In the German headquarters of the big oil companies, intensive consultations have been going on behind closed doors since the beginning of the week, the Handelsblatt learned from several insiders. Federal Minister of Economics Robert Habeck (Greens) threatened the billionaire company with breaking up at the weekend in view of the hardly falling fuel prices despite the tank discount.

“It’s a different key being struck here,” says an insider who has worked for one of the major oil companies for the past 20 years. Shell, BP, Exxon Mobil and the rest of the industry are now trying to “sort through” what Habeck’s announcements could legally mean as quickly as possible.

The excitement is so great because Habeck’s plans are not a short-term reaction to the tank discount. “Habeck’s plans would be a paradigm shift in competition policy,” says Monika Schnitzer.

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