FTC to question oil companies about gas prices

Article Abstract:

The US Federal Trade Commission is looking into possible price gouging in the Midwest. Subpoenas have been sent to oil companies which were engaged in refining, distribution and sale of gasoline around the Chicago and Milwaukee areas where the run-up in prices were sufficiently questionable. A gallon of gasoline in Chicago has gone up to $2.13 while a gallon in Milwaukee increased to $2.04. The prices far exceeded that of the nationwide average cost of $1.68 per gallon as provided by the Dept of Energy.

Petroleum Refineries, Gasoline

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Northeast gets heating oil reserve

Article Abstract:

Pres Bill Clinton plans to establish a heating oil reserve stock for the Northeast on Jul 10, 2000, to avoid another case of steeply escalating heating bills that confronted consumers during a spell of chilly weather in 1999. The reserve stock calls for the federal government to exchange roughly 2 million barrels of crude oil from the US Strategic Petroleum Reserve for a store of home heating oil for the Northeastern states, which consume roughly 75% of the nation's heating oil in winter. Clinton will need Congressional approval to release the fuel.

Regulation and Administration of Communications, Electric, Gas, and Other Utilities, Energy Policy NEC

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