Antitrust regulation will change under Biden, but don’t expect revolution.

first_img– Advertisement – F.T.C. commissioners serve staggered terms and need Senate approval, so it could take time for the balance to shift. In any case, experts say the political climate isn’t ripe for an aggressive policy overhaul. David Vladeck, a Georgetown University law professor and former director of the F.T.C.’s consumer protection unit, said that even though “antitrust laws haven’t worked very well in the digital economy,” he doubted a revolution was either desirable or possible. Similarly, Eleanor Fox and Harry First of New York University, who recently outlined new rules to rein in Big Tech, said there was plenty of room for consensus in the ideological middle, balancing nuanced views on market efficiency and consolidation. – Advertisement – The F.T.C.’s five commissioners are currently three Republicans and two Democrats. The Democrats, Rohit Chopra and Rebecca Slaughter, often oppose the majority’s “permissive” treatment of corporations, and one of them could become the new head of the agency. Indeed, the House Committee on Energy and Commerce recently urged Mr. Simons to “immediately stop work on all partisan, controversial items,” noting that leadership “will undoubtedly be changing.” – Advertisement – A debate has raged between more laissez-faire conservatives and the so-called progressive “hipster antitrust movement” seeking a more muscular competition policy overhaul, especially toward Big Tech. President-elect Joseph R. Biden Jr. is expected to seek a balance between these competing ideologies.center_img And Sean Royall, a former deputy director of the F.T.C.’s competition bureau who is now a partner at the legal giant Kirkland & Ellis, said, “The changes we expect are on balance fairly moderate.” Joe Simons, the chairman of the Federal Trade Commission, said Thursday that monopolies could “squash” smaller competitors by buying them, a possible warning shot ahead of the agency’s expected lawsuit against Facebook. The statement highlights how the agency’s approach to antitrust could change under a Biden administration, as the Democratic Party’s left wing pushes for even tougher enforcement, the DealBook newsletter reports.- Advertisement –last_img read more

Nakilat forms FSRU pact with Excelerate Energy

first_imgQatar’s Nakilat, the world’s largest liquefied natural gas (LNG) shipping company, signed an agreement with US-based Excelerate Energy, to establish a joint-venture company and acquire interest in FSRU Exquisite. Nakilat said in its statement on Tuesday it plans to acquire a 55 percent stake in a floating storage and regasification unit, the first such vessel to join the company’s fleet.Commenting on the agreement, Qatar’s minister of energy and industry and Nakilat chairman, Mohammed Bin Saleh Al Sada, said it will enable the company to widen its international outreach.The FSRU unit has a capacity of 150,900 cubic meters and a peak regasification rate of 745 million cubic feet per day.The vessel is located at Port Qasim in Pakistan and has received 10.4 million tons of LNG since it started operations in 2015, out of which 7.8 million tons were Qatari LNG.Excelerate Energy’s managing director Steven Kobos added, “in 2017, the FSRU Exquisite delivered more regasified LNG ashore than any FSRU in history.”last_img read more