Good news.
Register newspaper, Aug 30, 05
Criticizing oil industry profits, a California lawmaker has introdused legislation to give a state agency broad authority to regulate the cost of fuel.
Sen. Joe Dunn D- Santa Ana wants fuel reserves and set profit margins for gas and oil companies.
Dunn has has accused the petroleum industry of creating a dysfunctional system in California where competition has been all but eliminated. Dunn said "Two years ago gas cost $2 a gallon, the industry said to give it time and prices would settle down. Now it is $3 a gallon. People in California are no longer believing the excuses of the indusrty. If they can't fix their market behavior, we'll fix it for them."
The new law, introduced Tuesday, is modled on a law passed by Hawaii in 2002 that allows gas caps on gas.
BK wrote:Good news.
Register newspaper, Aug 30, 05
Criticizing oil industry profits, a California lawmaker has introdused legislation to give a state agency broad authority to regulate the cost of fuel.
Sen. Joe Dunn D- Santa Ana wants fuel reserves and set profit margins for gas and oil companies.
Dunn has has accused the petroleum industry of creating a dysfunctional system in California where competition has been all but eliminated. Dunn said "Two years ago gas cost $2 a gallon, the industry said to give it time and prices would settle down. Now it is $3 a gallon. People in California are no longer believing the excuses of the indusrty. If they can't fix their market behavior, we'll fix it for them."
The new law, introduced Tuesday, is modled on a law passed by Hawaii in 2002 that allows gas caps on gas.
Gee that sounds like the same type plan that kept your electric bills under control.