Congress warned of limits to gasoline price relief

09/12/2005
US gasoline markets already were tight when Hurricane Katrina devastated the Gulf Coast, and recovery from the storm’s damage will only moderately relieve the resulting price spike, government and industry leaders told two congressional committees.“We have an oil distribution system in this country that is based on 1970s production and 1970s demand. It needs to be brought up to date,” House Energy and Commerce Committee Chairman Joe Barton (R-Tex.) said Sept. 7 as he opened his committee’s hearing on the hurricane’s impact on the Gulf Coast.Other committee members called the storm’s domestic oil products disruption a wake-up call. But the country’...
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