FTC Subpoenas Big Oil Companies in Gas Probe

Thursday, November 10, 2005
Recent Reuters reports state that the Federal Trade Commission has sent subpoenas to Big Oil companies in its investigation of gasoline price manipulation and oil refining capacity constraints, and hopes to complete the probe next spring. The agency sent out dozens of subpoenas to companies, including oil giants Exxon Mobil, Chevron, ConocoPhillips, and the U.S. units of BP and Royal Dutch Shell Plc. The FTC probe was ordered by Congress last summer as part of a broad energy bill with $14.5 billion in industry incentives, according to the report. Lawmakers included the provision because of a steady climb in crude oil and gasoline prices throughout 2005. Less than a month after the bill was signed into law, Hurricane Katrina thundered through the Gulf of Mexico and Louisiana, flooding eight major refineries and halting most offshore oil production. The national average retail price of gasoline surged to a record $3.07 a gallon soon afterward. Source: Reuters
Maritime Reporter June 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Legal

Korea Ferry Businessman's Body Located

Yoo had been target of South Korea's largest manhunt; Failure of police to catch Yoo had been burden for Park government. The body of South Korea's most wanted man,

Flirting with Default, Argentina Enjoys Oil Drilling Boom

Holders of Argentina's  defaulted debt and their supporters have warned the country risks being frozen out from international capital markets unless it finds

Mexico's Senate OKs Bills Expanding Power of Energy Regulators

Mexico's Senate gave general approval on Monday to legislation laying out expanded powers for energy regulators, part of the fine print needed to implement a constitutional

Navigation

Singapore Approves Danelec New-Generation VDR

The Maritime and Port Authority of Singapore has issued a certificate of approval for the Danelec DM100 VDR for installation on ships under the Singapore registry.

Maritime Reporter @ 75: The Daily Cartoon

Maritime Reporter & Engineering News was founded by John J. O'Malley (1905-1980) in 1939, and today ranks as the world's largest audited trade publication in the world serving the maritime industry,

TerraSond Gets 5-Year NOAA Survey Contract

TerraSond says it has been selected by the National Oceanic and Atmospheric Administration (NOAA) to provide hydrographic surveying services anywhere in the U.S under a new five-year contract.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Navigation Pipelines Salvage Ship Repair Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0970 sec (10 req/sec)