FTC vs Senate on Fuel prices

NFSTDI

Vendor , w/Business number
Joined
Jan 11, 2006
Location
Sunny California :)
TDI
'98 Jetta
Has anyone been following this issue?

The other day I woke up way to early and could not get back to sleep. I turned on the TV to find an extremely polite senator from Oregon questioning the head of of Federal Trade commision about fuel price issues. As I recall there was also a spokesperson for the oil industry on hand. The senator excused himself to go vote.

Shortly afterwards California Senator Barbara Boxer entered and began to grill the women who heads up the FTC. Boxer suggested that her one thousand page report on the subject of rising gasoline prices and excessive profits was pathetic.

Sen. Boxer mentioned a Shell refinery in California that was going to be closed because it could not be sold due to operating at a loss. She said our state attorney general looked into the matter and revealed that the refinery not only generated a profit but that closing it would hurt consumers. They were then able to find a buyer and it's still running!

So has anyone else seen or read anything verifiable on the subject?
 
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