FTC sees no illegal gas price manipulation

Regis Philbin · May 22nd, 2006, 07:06 PM

http://today.reuters.com/news/newsar...src=rss&rpc=22

Quote:

FTC sees no illegal gas price manipulation

Mon May 22, 2006 11:36am ET

WASHINGTON (Reuters) - An investigation by U.S. antitrust authorities found no evidence that oil companies illegally manipulated gasoline prices or constrained oil refining operations, the Federal Trade Commission said on Monday.

However, the agency said it had found 15 examples that fit lawmakers' definition of price-gouging at the "refining, wholesale, or retail level." It said factors like regional and local market trends appeared to explain the pricing in nearly all the cases.

Congress ordered the FTC probe last summer as part of a broad energy bill in response to a steady climb in crude oil and gasoline prices.

**pinky** · May 22nd, 2006, 08:51 PM

I guess price-gouging isn't illegal.

*Candy* · May 23rd, 2006, 03:15 PM

I cant stand the FTC and the FDA. They are two of the most corrupt government organizations in existance and I really couldnt care less what the FTC says about gas prices.

Regis Philbin · May 23rd, 2006, 10:17 PM

Who are the Libs going to blame for the gas prices now???

Regis Philbin · May 23rd, 2006, 10:19 PM

Quote:

Originally Posted by *Candy*

I cant stand the FTC and the FDA. They are two of the most corrupt government organizations in existance and I really couldnt care less what the FTC says about gas prices.

Is that because they don't have a liberal agenda to promote?

**pinky** · May 23rd, 2006, 10:20 PM

Quote:

However, the agency said it had found 15 examples that fit lawmakers' definition of price-gouging at the "refining, wholesale, or retail level."

Sounds like the oil companies to me!

Regis Philbin · May 23rd, 2006, 10:23 PM

You somehow forgot to post the rest of the paragraph...

Quote:

It said factors like regional and local market trends appeared to explain the pricing in nearly all the cases.

**pinky** · May 23rd, 2006, 10:25 PM

Well, you're the master of that!

I recognize regional impact can have an effect, but over the past 8 months, those situations should have been worked out, if the oil companies were really interested in doing so.

Regis Philbin · May 24th, 2006, 01:56 AM

Some areas have to have oxygenated fuel. Others have to have special blends based on their climate. Then, of course, there's differences in taxes and the way they're calculated from place to place. Most states tax by the gallon, but a few tax by the dollar---which can really make the price go up fast when there's a supply problem.

**db44** · May 24th, 2006, 05:46 AM

And yet huge profits... Many industries would be investigated for collusion or monopolization at this point, based on publicly released numbers.

**DoubleEdgeSword** · May 24th, 2006, 06:04 AM

Quote:

However, the agency said it had found 15 examples that fit lawmakers' definition of price-gouging...

And that's the key. Congress decides what constitutes "price-gouging." Do you think they may be influenced at all by Big Oil?

**pinky** · May 24th, 2006, 07:03 AM

Quote:

Originally Posted by Regis Philbin

Some areas have to have oxygenated fuel. Others have to have special blends based on their climate. Then, of course, there's differences in taxes and the way they're calculated from place to place. Most states tax by the gallon, but a few tax by the dollar---which can really make the price go up fast when there's a supply problem.

That's what I meant by regional impact. But it's been over 8 months (almost 9, actually) since Katrina interrupted supplies. If the big oil companies were concerned about levelling supplies of gas specific to certain areas, they could have done so by now. Is it in the interests of their bottom lines to do so? I think not.

Also, in states which tax by the gallon, the impact of taxes has nothing to do with rising prices, does it?

emjay · Sep 17th, 2007, 04:53 PM

Peak oil is a scam manufactured by the oil companies to create artificial scarcity and drive up profits for transnational oil cartels.

May 23rd, 2006, 03:15 PM	#3
Candy Registered User Join Date: May 2002 Location: A big ole' Chruch with a population of 2 mill. mostly mormon ppl,a.k.a UT Posts: 7,488	I cant stand the FTC and the FDA. They are two of the most corrupt government organizations in existance and I really couldnt care less what the FTC says about gas prices. __________________ “People are poor because they are lazy.”- George W. Bush, 1973 www.myspace.com/kaotickandy

May 23rd, 2006, 10:17 PM	#4
Regis Philbin Registered User Join Date: Jul 2000 Location: Neither here nor there Posts: 15,292	Who are the Libs going to blame for the gas prices now??? __________________ When most Americans read the novel 1984 they were scared. When Obama read 1984, he started taking notes. --- Rush Limbaugh The problem with Socialism is that eventually you run out of other people's money. --- Margaret Thatcher

May 24th, 2006, 01:56 AM	#9
Regis Philbin Registered User Join Date: Jul 2000 Location: Neither here nor there Posts: 15,292	Some areas have to have oxygenated fuel. Others have to have special blends based on their climate. Then, of course, there's differences in taxes and the way they're calculated from place to place. Most states tax by the gallon, but a few tax by the dollar---which can really make the price go up fast when there's a supply problem. __________________ When most Americans read the novel 1984 they were scared. When Obama read 1984, he started taking notes. --- Rush Limbaugh The problem with Socialism is that eventually you run out of other people's money. --- Margaret Thatcher

May 24th, 2006, 05:46 AM	#10
db44 Shark bait, OOH-HA-HA! Join Date: Oct 2000 Location: Not in Kansas anymore!!! Posts: 20,747	And yet huge profits... Many industries would be investigated for collusion or monopolization at this point, based on publicly released numbers. __________________ In the end, only kindness matters.

Sep 17th, 2007, 04:53 PM	#13
emjay Registered User Join Date: Oct 2003 Location: sublimity Posts: 14,201	Peak oil is a scam manufactured by the oil companies to create artificial scarcity and drive up profits for transnational oil cartels. __________________

May 22nd, 2006, 08:51 PM	#2
pinky Spoiler of All Fun Moderator Join Date: Aug 1999 Location: It's JERSEY, not Joisey Posts: 22,190	I guess price-gouging isn't illegal.

May 23rd, 2006, 10:25 PM	#8
pinky Spoiler of All Fun Moderator Join Date: Aug 1999 Location: It's JERSEY, not Joisey Posts: 22,190	Well, you're the master of that! I recognize regional impact can have an effect, but over the past 8 months, those situations should have been worked out, if the oil companies were really interested in doing so.