But, Congress already disagrees with those findings. They didn't hear what they wanted to hear to make their jobs easier!"Since the report did not find an industry villain, it was not likely to quell voter anger over the high gas prices. That is likely to add political pressure on Congress to take steps to lower prices or reduce the earnings of some oil companies. It could also provide some impetus for legislation, already adopted by the House, to outlaw price gouging and impose high penalties for violations.
The commission said it found 15 examples of pricing by refineries, wholesale companies and retailers that technically fit the definition of price gouging. (It defined gouging as a price increase in the month after the hurricanes that was not attributable to the additional costs caused by weather-related damage.) But it said that in nearly all of those instances, gouging probably was not involved because regional or local trends justified the higher prices."
Tuesday, May 23, 2006
Gas pricing was legal, FTC says
JS Online:Gas pricing was legal, FTC says:
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The FTC has been investigating the oil industry for potential gouging for years and found no evidence of an industry-wide problem. People need to calm down and think rationally about causes and solutions.
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