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Petrol giant denies exploiting Katrina

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WearyOne Donating Member (490 posts) Send PM | Profile | Ignore Mon Nov-28-05 09:33 AM
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Petrol giant denies exploiting Katrina
Petrol giant denies exploiting Katrina
By Matt Wade and Matt O'Sullivan
November 29, 2005

AUSTRALIA'S biggest oil company has been accused of price gouging after it admitted soaring petrol refining margins in the wake of Hurricane Katrina would deliver bumper profits.

Caltex yesterday hoisted its profit forecast by 21 per cent to as much as $420 million this year, prompting price watchdogs to warn that motorists were being "screwed at the petrol bowser".

The oil giant attributed the profit boost to "significantly higher" refinery margins caused by Hurricane Katrina inflicting production shortages on the United States and strong fuel demand from China and India.


http://www.smh.com.au/news/business/petrol-giant-denies-exploiting-katrina/2005/11/28/1133026404081.html
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Liberal Veteran Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-05 10:00 AM
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1. Of course....it's just coincidence that.....
Your profits soared at the same time as prices at the pumps skyrocketed in the wake of Katrina.
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classysassy Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-05 12:09 PM
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2. Oh yeh
we believe you,you people are so honest.I forgot to put my brain back in my head this morning.
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