At a Senate Committee on Commerce, Science and Transportation hearing, Dr. Mark Cooper, Director of Research, Consumer Federation of America, says that oil companies exploit the consumer.

Posted by Staff on May 23, 2006 |

Cooper says that oil companies are not running enough refineries or keeping enough inventories to properly supply the consumer. Also, he says that the price hikes are highly correlated to record profits, and by keeping inventories tight, gas companies are able to control supply (:38).

 
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May 23, 2006

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