Democrat Attorney General Charles Foti Jr. said his office is expanding its investigation into rising gasoline prices by demanding answers from major oil companies, distributors and retailers to explain the price increase now and during the weeks that followed hurricanes Katrina and Rita. New Orleans CityBusiness, 04/25/2006
Thursday, April 27, 2006
A man with courage: Democrat Foti Investigates Gas Prices
Democrat Attorney General Charles Foti Jr. said his office is expanding its investigation into rising gasoline prices by demanding answers from major oil companies, distributors and retailers to explain the price increase now and during the weeks that followed hurricanes Katrina and Rita. New Orleans CityBusiness, 04/25/2006
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2 comments:
Foti is grandstanding. Governemnt interference can only make things worse. History bears this out. Remember the windfall profits tax? Remember the shortages that followed?
One of my theories, I suspect that the biggest user of petroleum is the US military. As the biggest user with the deepest pockets, they are largely responsible for bidding up the price. If the US military would cease its worldwide crusades I suspect that the price would decline dramatically.
Don't hold your breath.
David in Grand Coteau
"biggest user of petroleum is the US military...," that's an interesting point, and a point I never considered.
If you have some more information send it along.
But, it makes a a lot of sense. The military surely ins't pulling up to local gas stations to fill-up.
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