Feds launch inquiry into gasoline price surge

[Nottingham]

http://www.chron.com/cs/CDA/ssistory.mpl/front/2080257

Feds launch inquiry into gasoline price surge
Reuters News Service




WASHINGTON - The U.S. Energy Department is investigating a recent spike in gasoline prices to a record high, including whether there was manipulation of the fuel market, Energy Secretary Spencer Abraham said today.

Abraham told a congressional committee that the 12-cent jump, in just one week, in the average national gasoline price heading into the late summer Labor Day weekend prompted the department to look into the matter.

"The nature of this (price) fluctuation struck me as being unusually large as well and in need of greater explanation," Abraham said.

He said a power blackout in mid-August that shut down several oil refineries, the disruption in a major Southwest gasoline pipeline and strong motor fuel demand were responsible for some of the price rise.

more....


It was Price Gouging of the Highest Order! :bounce:

[onehandle]

1. oh, This'll go far. nt

nt

[Blue_State_Elitist]

2. Nottingham

You are really on fire tonight. CHEERS

[Nottingham]

3. Thanks guys! Ya I kinda was lucky I guess!

:bounce: Ya how convenient First Energy never made a Phone call to Michigan to tell them there was a PROBLEM!

This was such a SET UP!

[pfitz59]

4. When will he investigate the fake energy crisis of 2001?

Or the blackout? Or ENRON? Oh yeah, this is a joke, right?

[neverforget]

5. An investigation coming from the same guy who said that the 2003

blackout is a reason for rate increases on consumers! That guy is Spencer Abraham. :eyes: Yeah, he'll investigate alright. :eyes: