Oil sets record high ever $45.20 a barrell
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cycloneye
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Oil sets record high ever $45.20 a barrell
Oh boy the gas in the pump will continue to go up in comming weeks.And heating oil as winter gets closer will go up too.
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azsnowman
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- Location: Pinetop Arizona. Elevation 7102' (54 miles west of NM border)
For HEAVENS sake...this makes me SICK to my stomach, ESPECIALLY after reading yesterdays Az Republic:
http://www.azcentral.com
Goddard accuses gas firms of gouging
Russell Gates/The Arizona Republic
Terry Goddard
Says U.S. rules help to exploit fuel prices
Max Jarman
The Arizona Republic
Aug. 12, 2004 12:00 AM
Arizona Attorney General Terry Goddard on Wednesday accused gasoline refiners of using government-mandated deadlines for switching gas blends twice a year to gouge consumers.
But he said he and attorneys general from 10 other states are making progress in an effort to take away the refineries' justification for raising prices. They have asked the U.S. Department of Energy to step in and stagger the changeovers from winter to summer fuel blends so they don't occur at the same time, which causes shortages and price spikes. The changeover also occurs at the beginning of winter, but the price jumps aren't as severe.
Related links
• Fuel-change rule sparks hikes
• Some of the cheapest gas around the Valley
Refiners made $1.06 million a day in additional profits in Arizona during March and $1.43 million a day in April because of the changeovers, according to research by Goddard's office. The government should not be facilitating the additional profit, he said.
"If these profits are the result of a government policy, then the policy should be changed," he said.
John Felmy, chief economist for the American Petroleum Institute, agreed that the changeover periods are an enormous problem for the industry, but he opposes any government intervention.
"They're proposing a return to the 1970s, when they tried to replace market forces with government regulation," Felmy said. "It didn't work."
http://www.azcentral.com
Goddard accuses gas firms of gouging
Russell Gates/The Arizona Republic
Terry Goddard
Says U.S. rules help to exploit fuel prices
Max Jarman
The Arizona Republic
Aug. 12, 2004 12:00 AM
Arizona Attorney General Terry Goddard on Wednesday accused gasoline refiners of using government-mandated deadlines for switching gas blends twice a year to gouge consumers.
But he said he and attorneys general from 10 other states are making progress in an effort to take away the refineries' justification for raising prices. They have asked the U.S. Department of Energy to step in and stagger the changeovers from winter to summer fuel blends so they don't occur at the same time, which causes shortages and price spikes. The changeover also occurs at the beginning of winter, but the price jumps aren't as severe.
Related links
• Fuel-change rule sparks hikes
• Some of the cheapest gas around the Valley
Refiners made $1.06 million a day in additional profits in Arizona during March and $1.43 million a day in April because of the changeovers, according to research by Goddard's office. The government should not be facilitating the additional profit, he said.
"If these profits are the result of a government policy, then the policy should be changed," he said.
John Felmy, chief economist for the American Petroleum Institute, agreed that the changeover periods are an enormous problem for the industry, but he opposes any government intervention.
"They're proposing a return to the 1970s, when they tried to replace market forces with government regulation," Felmy said. "It didn't work."
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