FTC Releases Report on its “Investigation of Gasoline Price Manipulation..

The Federal Trade Commission today issued a report entitled “Investigation of Gasoline Price Manipulation and Post-Katrina Gasoline Price Increases.” The report details the results of an intensive, Congressionally-mandated Commission investigation into whether gasoline prices nationwide were “artificially manipulated by reducing refinery capacity or by any other form of market manipulation or price gouging practices” and into gasoline pricing by refiners, large wholesalers, and retailers in the aftermath of Hurricane Katrina.

In its investigation, the FTC found no instances of illegal market manipulation that led to higher prices during the relevant time periods but found 15 examples of pricing at the refining, wholesale, or retail level that fit the relevant legislation’s definition of evidence of “price gouging.” Other factors such as regional or local market trends, however, appeared to explain these firms’ prices in nearly all cases. Further, the report reiterated the FTC’s position that federal gasoline price gouging legislation, in addition to being difficult to enforce, could cause more problems for consumers than it solves, and that competitive market forces should be allowed to determine the price of gasoline drivers pay at the pump.


More at http://www.ftc.gov/opa/2006/05/katrinagasprices.htm

I am shocked....:sarcasm:

whatever chuckle futz.

market manipulation.

... move along.

I'm glad the FTC at least had the decency to put it this way.

FTC Finds Gas Price Gouging After Katrina

WASHINGTON - The Federal Trade Commission on Monday said it found 15 examples of gasoline price gouging after Hurricane Katrina, though the agency said it has not identified any widespread effort by the oil industry to illegally manipulate the marketplace

http://news.yahoo.com/s/ap/20060522/ap_on_bi_ge/gasoline_gouging_1

They only looked at the gas stations - not at the oil companies

ever hear of Standard Oil?

Surprise, effing surprise:

WASHINGTON (Reuters) - An investigation by U.S. antitrust authorities found no evidence that oil companies illegally manipulated gasoline prices or constrained oil refining operations, the Federal Trade Commission said Monday.

Rest here: http://money.cnn.com/2006/05/22/news/economy/ftc_gas.reut/index.htm?cnn=yes

Deserve all that the Current Regime has done.

...nothing to see here... :eyes:

Here, watch The Apprentice and get fat and stupid. Go watch 500 channels of Dr. Phil. Go back to bed, America.

Deborah Platt Majoras was appointed May 11, 2004, by President George W. Bush to be Chairman and Commissioner of the Federal Trade Commission.

"The Federal Trade Commission chairwoman is the FTC's point person on its gasoline price gouging inquiry in the wake of Hurricane Katrina. Unfortunately, in her prior life at the Jones Day law firm she was also the point person for ChevronTexaco and Halliburton subsidiary Kellogg Brown and Root. In 2004, Senator Ron Wyden opposed her nomination for her refusal to outline the steps she would take to investigate and fight gas price gouging."

Majoras' original appointment was set aside because "senators who were concerned about how tough she'd be about rising gas prices put her confirmation on hold. So Bush appointed her without them, during the Senate's August recess.

http://www.sourcewatch.org/index.php?title=Deborah_Platt_Majoras

I am shocked!

Not.

Thanks for posting Chairwoman Majoras' "qualifications".