Re: "There are reasons gas got so pricey" (TNT, 3-4).
I read this article with great interest and thought, here we go again!
Although the price of oil has remained steady, the price of gasoline has shot up once again in recent days. So what happens next? Well, the public will complain and Congress will investigate and later find price manipulation. Then, as the oil companies make a fortune, they will later agree to pay a government settlement of less than 10 to 20 percent of the profits they reaped.
But the kicker is they will never admit guilt, and when the conditions are right they will do it again.
Never miss a local story.
The government that is supposed to protect us from this has no teeth when it comes to regulating the oil industry or holding it accountable. But as long as lobbyists are pumping the same profits until political campaigns to maintain their influence, the American consumer will continue to see sucyh examples of opportunistic economics and suffer the consequences of lax gas-pricing enforcement.