Waterbuffalo
04-20-2008, 05:25 PM
Here is another interesting article from the PSBJ. Basically its saying from an investigation that Washington state Attorney Generals office under took from 2006-08 trying to find out if there was any price gouging by Big Oil companies.
One can find this article here:
http://www.bizjournals.com/seattle/stories/2008/04/14/daily28.html?ana=from_rss
Here is what was written:
" After a year-long investigation into fuel prices in Washington, Attorney General Rob McKenna said his office didn't find any illegal conduct on the part of producers.
"This investigation did not uncover any illegal conduct in Washington regarding the pricing of gasoline during the period examined, 2000-2008," according to a report released by his office Tuesday.
One reason Washington gas consumers see high gas prices is that the state has the highest gas tax in the country, currently at 54.4 cents per gallon. McKenna's investigation found that the state has the sixth-highest gas prices in the country.
"Recent historic high (prices) are the result of record crude oil prices and increasing worldwide demand for oil products," according to the report. The investigation was conducted by Keith Leffler, an economist at the University of Washington.
Washington's five major refineries are running at capacity, but they don't produce enough to supply the demand for the region. Imported supply is required, and the report indicated that any glitches in the system "can cause significant price spikes."
One can find this article here:
http://www.bizjournals.com/seattle/stories/2008/04/14/daily28.html?ana=from_rss
Here is what was written:
" After a year-long investigation into fuel prices in Washington, Attorney General Rob McKenna said his office didn't find any illegal conduct on the part of producers.
"This investigation did not uncover any illegal conduct in Washington regarding the pricing of gasoline during the period examined, 2000-2008," according to a report released by his office Tuesday.
One reason Washington gas consumers see high gas prices is that the state has the highest gas tax in the country, currently at 54.4 cents per gallon. McKenna's investigation found that the state has the sixth-highest gas prices in the country.
"Recent historic high (prices) are the result of record crude oil prices and increasing worldwide demand for oil products," according to the report. The investigation was conducted by Keith Leffler, an economist at the University of Washington.
Washington's five major refineries are running at capacity, but they don't produce enough to supply the demand for the region. Imported supply is required, and the report indicated that any glitches in the system "can cause significant price spikes."