Senator Claire McCaskill gets FTC to Investigate Gas Price Fixing

The Federal Trade Commission is taking Senator Claire McCaskill’s advice, and investigating U-S gasoline refiners. McCaskill had blown the whistle on refiners, who appeared to be cutting back on U-S stockpiles, and even exporting, when domestic demand was high. The Senator felt they were artificially keeping prices high and wanted the FTC to look into possible price fixing.

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Comments

  1. hitechsailor says

    That’s rich! And when the FTC discovers that it’s the EPA’s summer blending rules for gasoline that are causing the refineries to do much of what she’s complaining about will Claire tell the truth? Not likely. If she wants to bring down gas prices she needs to get the EPA to simplify the blending rules so more than a single refinery can supply a region. Those 60+ region/city specific blends have not had the benefit the EPA said they would and have actually made the air worse in some cities, but the EPA persists anyway – the evidence be damned. Those same rules also have historically caused a Spring drop in stockpiles because they require an abnormal number of refineries to simultaneously go offline for changeover. If demand is high at that point, the stockpile drop would be exacerbated like it was this year. It would also help is she would quit grandstanding and lean on Obama and his ilk to stop stonewalling on the refinery regulatory simplification and permitting for offshore drilling, the pipeline from the new Canadian oil fields, etc. McCaskill is grandstanding for votes, not working on solutions.

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