Schumer seeks probe of refining capacity utilization in letter to FTC

04/24/2006
Citing rising gasoline prices, US Sen. Charles E. Schumer (D-NY) suggested that some refiners may be keeping plants off-line as they switch to summer fuel blends to push prices even higher.The senator also cited crude oil costs in an Apr. 18 letter to Federal Trade Commission Chairwoman Deborah P. Majoras asking for an investigation. But he said refining capacity utilization, which oil companies can control, has recently been below the 90% range that it has been for this period in the last 5 years.“Given the past behavior of the oil companies who take advantage of natural or cyclical occurrences and raise prices even more than necessary, this requires scrutiny,” Schumer said a...
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