Gas gouging
Permalink | October 3rd, 2005
Gas companies are screwing us, but then again, we already knew that…
Eight Democratic governors asked two weeks ago for an investigation by the Federal Trade Commission, which already had begun the probe. “To price-gouge consumers under normal circumstances is dishonest enough, but to make money off of the severe misfortune of others is downright immoral,” the governors said in a letter to the commission.
…
In a letter to the FTC, the governors cited a study by Don Nichols, a University of Wisconsin economist, concluding that for gas prices to reach $3 a gallon, crude oil prices would have to reach $95 a barrel, about $30 more than they have remained in recent weeks.
According to Nichols, “The disconnect between gasoline and crude oil prices is quite remarkable.” The call for an investigation was first made to President Bush a couple weeks ago by the governors of Oregon, Wisconsin, Michigan, Illinois, New Mexico, Iowa, Montana and Washington, with Hawaii being added to the list this week. Hmm, Bush to lead a probe into the oil companies — yeah, that’ll be the day … can you imagine?!
T-shirt by Demockratees (and no, I don’t get any money for plugging their site)
[via Honolulu Star-Bulletin and MSNBC]
