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

Growing American Shipping Bill Introduced by Garamendi

Congressman John Garamendi (D-CA-03), Ranking Member of the House Transportation and Infrastructure’s Coast Guard and Maritime Transportation Subcommittee, informs ot the introduction of  H.

Orica Fined Heavily for Australian Pollution Incidents

Orica Australia Pty Ltd has been convicted and penalised $768,250 in relation to charges brought by the NSW Environment Protection Authority (EPA) for pollution

Canaveral Shipwreck Search Permit Granted to Seafarer's Quest

Research and recovery of historic shipwrecks experts Seafarer Exploration Corporation says that Seafarer's Quest, LLC has successfully been granted a three year

Navigation

General Dynamics gets $25 mi GPS Contract from Lockheed Martin

General Dynamics Advanced Information Systems, a business unit of General Dynamics, was awarded a $25.4 million full-production contract from Lockheed Martin to support the U.

Raytheon Anschütz Debuts ShipGuard at SMM

In view of an increasing demand for security of merchant ships and maritime trade, Raytheon Anschütz, a German-based manufacturer of Integrated Bridge Systems,

House Subcommittee Hearing Highlights “Dismal State” of U.S. Icebreaking Capability

At the July 23, 2014, hearing of the House Subcommittee on Coast Guard and Maritime Transportation on “Implementing U.S. Policy in the Arctic” the committee chairman, Rep.

 
 
Maritime Contracts Maritime Standards Navigation Pipelines Pod Propulsion Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
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: 0.1130 sec (9 req/sec)