Ahead of Vote on Scrapping Big Oil Tax Breaks, Senate Dems Call for Investigation into Potential Pri

[Donnachaidh]

http://blogs.abcnews.com/thenote/2011/05/ahead-of-vote-on-scrapping-big-oil-tax-breaks-senate-dems-call-for-investigation-into-potential-price-fixing.html

In the latest move by Senate Democrats to target Big Oil for high gas prices, Sens. Claire McCaskill, D-MO, and Chuck Schumer, D-NY, today called for the Federal Trade Commission to launch an investigation into potential price fixing by oil refiners.

“The irony is we’ve got more rigs drilling domestically than we’ve had in many many years. We’ve got higher production than we’ve had for a long long time. But they’re exporting more and they’re cutting back on their capacity to deliver more gasoline into the supply chain,” McCaskill said at a press conference this morning on Capitol Hill. “Now that is very hard for me to understand.”

“Price is way up and they’re only operating at 81 percent. Is there a link?” asked Schumer.

“We want the administration to focus on this area right away,” he emphasized.

More at the link --

[Andy823]

1. Well...

That's all "supply an demand"! They "cut" the supply so they can "demand" higher prices, and it works well for them! That and a bunch of greedy speculators have taken price higher and higher increasing their profits, and hurting the people who need fuel to work, or in many case to look for work! Big oil and the greedy SOB's on wall street don't give a damn about how their greed hurts the country, they only care about the MONEY!