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Feinstein warns of action if oil firms don't show restraint [View All]

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davidinalameda Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Sep-07-05 10:39 AM
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Feinstein warns of action if oil firms don't show restraint
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http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2005/09/07/MNGVDEJCL71.DTL

West Coast senators blasted the oil industry Tuesday for allegedly using Hurricane Katrina as an excuse for jacking up gasoline prices in California and Oregon.

Sen. Dianne Feinstein, D-Calif., warned oil companies, which she said were already enjoying bloated profits before last week's destructive storm struck the Gulf Coast, that if they didn't show voluntary gas price restraint, Congress might act.

Sen. Gordon Smith, R-Ore., argued that the Federal Trade Commission had been toothless in investigating allegations of price gouging, and Sen. Ron Wyden, D-Ore., said the post-hurricane increase in West Coast prices showed the fallacy of the industry's longtime contention that the West Coast was a special market where prices were higher because of tough environmental rules.

it's good to see DiFi getting tough

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