Exxon, Chevron, Shell, and BP, four of the largest petroleum companies, are raking in record profits. Meanwhile, prices at the pump have surpassed the (non-inflation adjusted) highs of 2008. If that dynamic seems fishy to you, you’re in good company. First, U.S. House Democrats and President Joe Biden raised concerns. Now, Letitia James, New York State’s attorney general, is officially suspicious, as well.
On (April 14), the attorney general’s office launched a statewide investigation into whether or not the gas industry is engaging in price gouging. In other words: Are companies artificially inflating the cost of fuel and taking advantage of consumers? And in other, other words: Are you getting more screwed over than usual? The probe was first announced in a CNN report; Gizmodo confirmed the news in a phone call with Halimah Elmariah, James’ deputy press secretary. - Gizmodo
Friday, April 22, 2022
Someone in power is finally starting to get it, on gas prices
I blogged about this before, here. Things need to pick up, fast, on this front.
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