FTC says takes "deeper look" at jetfuel, diesel

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Wednesday, July 23, 2008 7:38:38 PM

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FTC says takes "deeper look" at jetfuel, diesel Thursday, May 15, 2008
Reuters -- WASHINGTON (Reuters) - The U.S. Federal Trade Commission is taking a "deeper look" at diesel and jet fuel prices amid soaring costs, the agency's head told a U.S. Senate panel on Wednesday. "We're looking at this very carefully," FTC Chairman William Kovacic told the Senate Appropriations Financial Services and General Government subcommittee. The agency is taking "a deeper look at both jet fuel and diesel," Kovacic said. Lawmakers quizzed FTC officials on why prices for jet fuel and diesel have risen more quickly than gasoline, noting that truckers and airlines have taken a big hit.
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	Thursday, May 15, 2008 Reuters -- WASHINGTON (Reuters) - The U.S. Federal Trade Commission is taking a "deeper look" at diesel and jet fuel prices amid soaring costs, the agency's head told a U.S. Senate panel on Wednesday. "We're looking at this very carefully," FTC Chairman William Kovacic told the Senate Appropriations Financial Services and General Government subcommittee. The agency is taking "a deeper look at both jet fuel and diesel," Kovacic said. Lawmakers quizzed FTC officials on why prices for jet fuel and diesel have risen more quickly than gasoline, noting that truckers and airlines have taken a big hit. Visit Reuters for full article

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JOHNNY95206 Veteran Author California Posts:319 Points:33,955 Joined:May 2008	Message Posted: 5/19/2008 5:40:58 PM	Ignore JOHNNY95206 Report Abuse
	this will help at the store no
magnumCA All-Star Author Los Angeles Posts:692 Points:153,310 Joined:Jan 2008	Message Posted: 5/19/2008 4:04:44 PM	Ignore magnumCA Report Abuse
	I can sum it up in two words GREED and MONEY
NJColt Champion Author New Jersey Posts:4,050 Points:922,005 Joined:Aug 2005	Message Posted: 5/18/2008 2:13:33 PM	Ignore NJColt Report Abuse
	pulease... look no further than GREED!
kansas_dude Rookie Author Wichita Posts:86 Points:29,895 Joined:Feb 2005	Message Posted: 5/16/2008 12:23:21 PM	Ignore kansas_dude Report Abuse
	Lawmakers quizzed FTC why jet fuel and diesel rises more quickly?? there is more added to jet fuel and diesel, thats why those 2 rise quickly
OSHAPT Sophomore Author Virginia Posts:161 Points:59,520 Joined:Apr 2008	Message Posted: 5/16/2008 10:01:57 AM	Ignore OSHAPT Report Abuse
	More nonsense.
NavyEOD Champion Author Los Angeles Posts:1,361 Points:312,730 Joined:Jul 2007	Message Posted: 5/16/2008 9:54:37 AM	Ignore NavyEOD Report Abuse
	Why just look, do something about it.
HoosierDaddyTX Sophomore Author Dallas Posts:151 Points:38,495 Joined:Dec 2007	Message Posted: 5/16/2008 9:49:46 AM	Ignore HoosierDaddyTX Report Abuse
	I cannot believe the oil companies and refiners would engage in price gouging. They seem to be such honest people. :o)
mysub Veteran Author Las Vegas Posts:482 Points:601,005 Joined:Apr 2006	Message Posted: 5/16/2008 9:48:26 AM	Ignore mysub Report Abuse
	I sure agree with fairchildd. DO something instead of just looking.
Somis1 Champion Author Ventura Posts:4,273 Points:957,075 Joined:Jul 2005	Message Posted: 5/16/2008 9:47:24 AM	Ignore Somis1 Report Abuse
	And nothing will come of this "look" either....
1shot Champion Author Dallas Posts:3,115 Points:556,400 Joined:May 2006	Message Posted: 5/16/2008 9:45:38 AM	Ignore 1shot Report Abuse
	I wish the electorate would "Look Deeper" into Congress and vote accordingly!!
hangupanddrive Veteran Author Michigan Posts:275 Points:831,665 Joined:Aug 2005	Message Posted: 5/16/2008 9:44:14 AM	Ignore hangupanddrive Report Abuse
	Good about time. Of course just looking??
PenDoctrJD Champion Author Orange County Posts:2,798 Points:1,259,240 Joined:Aug 2001	Message Posted: 5/16/2008 9:41:08 AM	Ignore PenDoctrJD Report Abuse
	It cost less to make diesel and jet fuel than gasoline despite what they say.
AnObserver Champion Author New Jersey Posts:1,067 Points:752,335 Joined:Sep 2005	Message Posted: 5/16/2008 9:37:27 AM	Ignore AnObserver Report Abuse
	I wish they would take a look a my home heating oil bill :>(
bicycler Champion Author Ontario Posts:5,340 Points:1,005,295 Joined:May 2005	Message Posted: 5/16/2008 9:35:38 AM	Ignore bicycler Report Abuse
	rogerparry; Do not hope for much! Mr Kovack has already given the oilbarons an excuse, noting that foreign needs have pushed up the price of fuel. A good study should start from the beginning not half way! Donations from the oilbarons should be considered also because those who lobby in our capitols are donating to the political elections.
rogerparry All-Star Author Florida Posts:749 Points:173,520 Joined:Jan 2008	Message Posted: 5/16/2008 9:26:24 AM	Ignore rogerparry Report Abuse
	It's about time. Hopefully they will actually do some good.
s11 Rookie Author Toronto Posts:20 Points:1,525 Joined:May 2008	Message Posted: 5/16/2008 9:25:17 AM	Ignore s11 Report Abuse
	Tough to take a look when you're wearing blinders. $127 and climbing.
Capt2007 Veteran Author Victoria Posts:260 Points:188,225 Joined:Oct 2007	Message Posted: 5/16/2008 9:24:38 AM	Ignore Capt2007 Report Abuse
	do they have prescription glasses as they look?
fairchildd All-Star Author Kansas City Posts:653 Points:258,710 Joined:Aug 2007	Message Posted: 5/16/2008 9:20:33 AM	Ignore fairchildd Report Abuse
	how about doing something instead of just looking?
woos777 Champion Author Washington Posts:1,018 Points:552,430 Joined:Sep 2006	Message Posted: 5/16/2008 9:20:02 AM	Ignore woos777 Report Abuse
	This is a "Yeah right, whatever" article.
JRFAN88 Rookie Author Ontario Posts:17 Points:13,315 Joined:Apr 2008	Message Posted: 5/16/2008 9:19:33 AM	Ignore JRFAN88 Report Abuse
	My question is..Now that airlines are charging a fuel surcharge on flights how long do you think it will be before all companies selling their commodities are doing the same??? Funny thing is that as a man that has been under the employ of the transportation sector throughout my working life I always wondered and knew eventually the world would have to understand that "If you got it a truck brought it" and transportation is not free..yet no-one seems to understand that.
Mononen Rookie Author Cleveland Posts:18 Points:11,360 Joined:May 2008	Message Posted: 5/16/2008 9:19:16 AM	Ignore Mononen Report Abuse
	deeper look? "very carefully"? ACTION NOW! Do something! Everyone is waiting.
Don20 All-Star Author Oklahoma City Posts:959 Points:896,865 Joined:Mar 2005	Message Posted: 5/16/2008 9:15:40 AM	Ignore Don20 Report Abuse
	Looking will not accomplish anything at the pump. Some action has to be taken, to lower prices.
s6sputnik Champion Author Austin Posts:1,618 Points:327,550 Joined:Jun 2007	Message Posted: 5/16/2008 9:14:19 AM	Ignore s6sputnik Report Abuse
	Wasting more money, but making themselves look legit?
grccMI Rookie Author Grand Rapids Posts:25 Points:1,215 Joined:May 2008	Message Posted: 5/16/2008 9:14:00 AM	Ignore grccMI Report Abuse
	They alrady found if they fly slower they use a lot less. What is 5 minutes?
w4kh Champion Author Riverside Posts:3,250 Points:562,240 Joined:May 2004	Message Posted: 5/16/2008 9:13:53 AM	Ignore w4kh Report Abuse
	Refineries at 87% of capacity, prices holding and going up, dollar weakening, more resources pumped into Iraq... Oil profits down (percentage-wise) so our White House Idiot and DickieBoy must be in a panic, and begging their Oil Buddies to hold the line...
CheapoBob All-Star Author Alabama Posts:859 Points:852,460 Joined:Apr 2005	Message Posted: 5/16/2008 9:13:04 AM	Ignore CheapoBob Report Abuse
	yea, right
niceguytx Champion Author Houston Posts:5,088 Points:988,070 Joined:Sep 2005	Message Posted: 5/16/2008 9:11:05 AM	Ignore niceguytx Report Abuse
	It sounds like they are being told to get some concessions from big oil.
Gas_Buzzer Champion Author South Carolina Posts:5,791 Points:988,715 Joined:Sep 2005	Message Posted: 5/16/2008 9:07:34 AM	Ignore Gas_Buzzer Report Abuse
	What exactly is "A deeper look"?
REVLAW Champion Author San Antonio Posts:1,490 Points:283,310 Joined:Jul 2007	Message Posted: 5/16/2008 9:05:48 AM	Ignore REVLAW Report Abuse
	"... taking a deeper look ..." translates into "don't bother us, we'll look at it with the usual whitewash approach."
Cuzilla Champion Author Indianapolis Posts:5,444 Points:897,995 Joined:Sep 2005	Message Posted: 5/16/2008 9:04:45 AM	Ignore Cuzilla Report Abuse
	Oil is sold on a world futures market. These Congressional hearings are a "dog and pony" show!
cbpilot Sophomore Author Riverside Posts:154 Points:298,635 Joined:Dec 2006	Message Posted: 5/16/2008 9:02:38 AM	Ignore cbpilot Report Abuse
	Why don't they take a look at whether the oil shortage is real in the first place?
RdHogg Champion Author Houston Posts:10,546 Points:1,263,630 Joined:Jun 2004	Message Posted: 5/16/2008 9:01:41 AM	Ignore RdHogg Report Abuse
	FTC needs to look into all the pricing of all the grades of gas..
GooseMI Champion Author Grand Rapids Posts:1,101 Points:262,890 Joined:Sep 2007	Message Posted: 5/16/2008 9:01:28 AM	Ignore GooseMI Report Abuse
	Another two year project
AC-302 Champion Author Los Angeles Posts:7,052 Points:1,197,700 Joined:Aug 2004	Message Posted: 5/16/2008 9:00:45 AM	Ignore AC-302 Report Abuse
	It's a question why kerosine derivatives have risen more sharply than gasoline. I suspect the reason is simple greed, but that's not necessarily a bad thing. This is intended more as an observation than an accusation...
spunky4443 All-Star Author Washington Posts:554 Points:338,175 Joined:May 2005	Message Posted: 5/16/2008 8:59:11 AM	Ignore spunky4443 Report Abuse
	What it always got to me, about diesel prices, its cheaper for them to make Diesel than gasoline, yet Diesel costs more, don't make sense.
sumthingstinks Rookie Author Tulsa Posts:56 Points:13,700 Joined:Apr 2008	Message Posted: 5/16/2008 8:58:09 AM	Ignore sumthingstinks Report Abuse
	Why do they always seem to blame overseas demand. Funny how only recently that has become a problem. I call BS
kingdick Champion Author Minnesota Posts:17,520 Points:1,408,220 Joined:Aug 2004	Message Posted: 5/16/2008 8:57:37 AM	Ignore kingdick Report Abuse
	Most state and federal gas taxes are a fixed rate X cents per gallon.
scrounger Champion Author Vancouver Posts:5,705 Points:1,571,185 Joined:Mar 2003	Message Posted: 5/16/2008 8:53:26 AM	Ignore scrounger Report Abuse
	GREED!!!!
Bity Veteran Author Wichita Posts:386 Points:45,255 Joined:Jan 2007	Message Posted: 5/16/2008 8:50:36 AM	Ignore Bity Report Abuse
	We need more action!
DeHavilland Champion Author Toronto Posts:1,413 Points:341,170 Joined:Jun 2007	Message Posted: 5/16/2008 8:49:41 AM	Ignore DeHavilland Report Abuse
	Retowered is right. Greed is the only reason.
Retowered Veteran Author Colorado Posts:354 Points:970,860 Joined:May 2004	Message Posted: 5/16/2008 8:47:06 AM	Ignore Retowered Report Abuse
	What happend to diesel it used to be the cheapest then greed took over.
Zacchaeus Rookie Author Missouri Posts:70 Points:944,875 Joined:Oct 2004	Message Posted: 5/16/2008 8:46:45 AM	Ignore Zacchaeus Report Abuse
	Sure would like to see diesel come down. To fill my 150 gal diesel tank in the big RV (40') at $4.25 (Missouri) totals $637.00. But that will last two days so its only $318.00 per day, driving 9 hours a day it's only $35.00 an hour. But who's driving? It's parked ..... Zac
rod1965 Veteran Author Portland Posts:273 Points:27,890 Joined:Jul 2007	Message Posted: 5/16/2008 8:44:14 AM	Ignore rod1965 Report Abuse
	yeah big oil, why has it risen? Are you finally showing your hand?
Brockvillian Veteran Author Ontario Posts:272 Points:244,370 Joined:May 2007	Message Posted: 5/16/2008 8:40:25 AM	Ignore Brockvillian Report Abuse
	I'd like to know too.
Sealer Champion Author Charleston Posts:1,713 Points:187,480 Joined:Jan 2008	Message Posted: 5/16/2008 8:39:22 AM	Ignore Sealer Report Abuse
	Please, not another congressional inquiry into how capitalism works. Why do they continue to wate my tax money on these "investigations?" Why can't we just send them to an economics course where they get a final exam and a grade. They don't seem to learn anything without that.
bar1035 Rookie Author North Carolina Posts:16 Points:59,820 Joined:Aug 2006	Message Posted: 5/16/2008 8:36:59 AM	Ignore bar1035 Report Abuse
	and since fuel taxes are a percent of the price...the higher the price the higher the taxes. Hence no incentive for more drilling or investigating or anything else
analogk Rookie Author Massachusetts Posts:2 Points:8,840 Joined:Feb 2008	Message Posted: 5/16/2008 8:36:44 AM	Ignore analogk Report Abuse
	As usual, they will pretend to do something until the market stabilizes by itself and then they'll take credit for it.
Laser917 Champion Author Minnesota Posts:1,792 Points:683,705 Joined:Oct 2005	Message Posted: 5/16/2008 8:34:38 AM	Ignore Laser917 Report Abuse
	"deeper look" does that mean a deeper hole for us to dig out of?
Rajah Champion Author Illinois Posts:1,847 Points:807,240 Joined:Jul 2005	Message Posted: 5/16/2008 8:32:11 AM	Ignore Rajah Report Abuse
	We don't need "deeper looks", we need some "Deeper action".
rvnvet70 Champion Author Michigan Posts:1,257 Points:875,450 Joined:Sep 2005	Message Posted: 5/16/2008 8:31:01 AM	Ignore rvnvet70 Report Abuse
	Just another run a round.