Supreme Court Throws Out Gas Prices Suit

[phantom power]

February 28,2006 | WASHINGTON -- The Supreme Court ruled Tuesday that two oil companies could not be sued over allegations they teamed up to inflate gas prices.

Justices unanimously said gas distributors did not prove that ChevronTexaco Corp. and Shell Oil Co. violated antitrust laws in the joint venture, which ran from 1998 until 2002.

Justice Clarence Thomas, writing for the court, said that the two companies had a legitimate partnership and the authority to set prices without violating federal law.

(...)

Tuesday's ruling could have broader implications, affecting how future joint ventures and mergers are structured, not just with oil companies.

http://www.salon.com/wire/ap/archive.html?wire=D8G26PD02.html

[MADem]

1. So, if every asshole who makes widgets forms a "legitimate partnership"

...it's no longer a monopoly and price-fixing?

Come off it! It's using language to get around the law.

[sui generis]

2. anti-trust laws are a liberal invention designed to harm

the poor, underpriveleged corporations and keep them from making the profit that is rightfully theirs!

How dare you! It's the fault of us liberools that gas prices are high anyway, what with driving back and forth to work, when we should clearly be living AT the factory and paying for food in corporate scrip.

:sarcasm:

[Trillo]

3. Following story (news item) would seem related

Gas Station Chain Fined For Selling Gas Too Cheaply

POSTED: 11:59 am EST February 27, 2006

ST. PAUL, Minn. -- The Minnesota Department of Commerce plans to fine a gas station chain for repeatedly selling gas below the state's legal minimum price.

The agency said it's fining Midwest Oil $140,000 for breaking a state formula based on wholesale prices, fees and taxes to determine a daily floor for gas prices.

(more...)

[FtWayneBlue]

4. I want to see them fined for charging TOO MUCH -

a price gouging tax of 110% of their profits should be about right.