This was so predictable….
The FTC investigation has concluded that incidents of post-Katrina gasoline price-gouging were few and isolated. There was no widespread conspiracy by the oil companies, just the laws of supply and demand. Several members of Congress immediately declared the investigation flawed and denounced the FTC as a stooge to the oil companies and an enemy of consumers.
So, who do you believe? On the one hand, you have an FTC which is part of an administration which arguably favors business over consumers. On the other hand, you have members of Congress who want you believe supply and demand somehow doesn’t apply to gasoline and want to be able to blame someone for high gas prices so they can use it for their re-election campaigns.
My prediction: Both sides will continue to flap their gums about it until they find something else to grandstand about at which point this will all be forgotten.