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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: yard_man who wrote (2755)3/23/2004 5:21:12 PM
From: mishedlo  Read Replies (1) of 116555
 
Great article on oil
Read it!

Energy Information Administration chief Guy Caruso said at an oil industry meeting in San Antonio on Monday that he was "really concerned" about thin U.S. gasoline inventories, which are running about 13 million barrels lower than the agency had projected.

The volatile gasoline landscape has drawn the attention of lawmakers from both political parties, making it a likely issue in this presidential election year.

Democrat Sen. Ron Wyden of Oregon on Monday reintroduced a bill requiring the Federal Trade Commission to act on what he called anti-competitive industry pricing policies.

The FTC earlier this month opened an informal probe into California's retail gasoline prices -- the highest in the nation -- at the urging of Democratic Sen. Barbara Boxer of California.

Oil and gas refiners have denied using any anti-competitive practices, instead blaming high prices on tight supplies caused by dozens of different gasoline-blending rules for metropolitan areas and the lack of enough imports of the motor fuel.

Republican Sen. Chuck Grassley of Iowa said soaring gasoline prices are a good reason for the Senate to pass a stalled energy bill.

money.excite.com
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