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 August 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Legal

Exxon, Rosneft May Halt Arctic Operations

Russia's natural resources minister said on Friday that it was highly likely that U.S. oil major Exxon Mobil Corp and its Russian counterpart Rosneft had halted

Livingston Appoint Candace Sider V-P Regulatory, Canada

Customs brokerage and trade compliance advisors, Livingston, say that to better reflect the company’s integral role in regulatory affairs for its clients, Livingston

US Pollution Risks: Federal & State Summaries

The US Pollution Risks publication, recently published for its members by the UK P&I Club, compiles summaries of all the Federal and state requirements on liability,

Navigation

New e-Navigation Technologies from Transas

Transas Marine introduced new software solutions for voyage planning and fleet management at SMM 2014 as a step towards becoming the forerunner in the development of e-Navigation technologies.

Bulgarian Naval Academy Installs VSTEP Simulators

The Nikola Vaptsarov Naval Academy in Varna purchased a 360° Class A Full Mission Bridge simulator and an Incident Management Simulator for training of its Naval and Merchant marine students.

Maritime Academy Awarded DHS Grant for Arctic Training

Maine Maritime Academy receives $450,000 grant From U.S. Department of Homeland Security for ice navigation and maritime first responder courses for the Arctic Maine

 
 
Maritime Contracts Maritime Security Naval Architecture Offshore Oil Port Authority Ship Repair 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: 0.1341 sec (7 req/sec)