Sunday, July 30, 2006

Oil Companies Keep Gas Supplies Tight So Prices Stay High

The oil-refining industry might have helped create a gasoline market that's so tight that some industry experts and critics say any hurricane, pipeline break or other disruption is likely to cause price spikes. During unprofitable times in the 1990s, some refiners' internal memos show they wanted to reduce refining capacity to boost profits.

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