FTC says takes "deeper look" at jetfuel, diesel

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Tuesday, October 07, 2008 3:35:40 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 Stockton Posts:319 Points:34,230 Joined:May 2008	Message Posted: 5/19/2008 6:40:58 PM	Ignore JOHNNY95206 Report Abuse
	this will help at the store no
magnumCA Champion Author Los Angeles Posts:1,099 Points:219,575 Joined:Jan 2008	Message Posted: 5/19/2008 5:04:44 PM	Ignore magnumCA Report Abuse
	I can sum it up in two words GREED and MONEY
NJColt Champion Author New Jersey Posts:4,355 Points:982,480 Joined:Aug 2005	Message Posted: 5/18/2008 3:13:33 PM	Ignore NJColt Report Abuse
	pulease... look no further than GREED!
kansas_dude Rookie Author Wichita Posts:91 Points:30,920 Joined:Feb 2005	Message Posted: 5/16/2008 1:23:21 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:61,895 Joined:Apr 2008	Message Posted: 5/16/2008 11:01:57 AM	Ignore OSHAPT Report Abuse
	More nonsense.
NavyEOD Champion Author Los Angeles Posts:1,741 Points:387,910 Joined:Jul 2007	Message Posted: 5/16/2008 10:54:37 AM	Ignore NavyEOD Report Abuse
	Why just look, do something about it.
HoosierDaddyTX Sophomore Author Dallas Posts:171 Points:44,720 Joined:Dec 2007	Message Posted: 5/16/2008 10:49:46 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 All-Star Author Las Vegas Posts:827 Points:674,205 Joined:Apr 2006	Message Posted: 5/16/2008 10:48:26 AM	Ignore mysub Report Abuse
	I sure agree with fairchildd. DO something instead of just looking.
Somis1 Champion Author Ventura Posts:4,654 Points:1,023,200 Joined:Jul 2005	Message Posted: 5/16/2008 10:47:24 AM	Ignore Somis1 Report Abuse
	And nothing will come of this "look" either....
1shot Champion Author Dallas Posts:3,635 Points:615,475 Joined:May 2006	Message Posted: 5/16/2008 10:45:38 AM	Ignore 1shot Report Abuse
	I wish the electorate would "Look Deeper" into Congress and vote accordingly!!
hangupanddrive All-Star Author Michigan Posts:607 Points:896,060 Joined:Aug 2005	Message Posted: 5/16/2008 10:44:14 AM	Ignore hangupanddrive Report Abuse
	Good about time. Of course just looking??
PenDoctrJD Champion Author Orange County Posts:3,189 Points:1,333,690 Joined:Aug 2001	Message Posted: 5/16/2008 10:41:08 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:1,394 Points:816,790 Joined:Sep 2005	Message Posted: 5/16/2008 10:37:27 AM	Ignore AnObserver Report Abuse
	I wish they would take a look a my home heating oil bill :>(
bicycler Champion Author Ontario Posts:5,956 Points:1,077,420 Joined:May 2005	Message Posted: 5/16/2008 10:35:38 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 Champion Author Florida Posts:1,124 Points:248,495 Joined:Jan 2008	Message Posted: 5/16/2008 10:26:24 AM	Ignore rogerparry Report Abuse
	It's about time. Hopefully they will actually do some good.
s11 Rookie Author Toronto Posts:21 Points:1,595 Joined:May 2008	Message Posted: 5/16/2008 10:25:17 AM	Ignore s11 Report Abuse
	Tough to take a look when you're wearing blinders. $127 and climbing.
Capt2007 Veteran Author Victoria Posts:261 Points:220,120 Joined:Oct 2007	Message Posted: 5/16/2008 10:24:38 AM	Ignore Capt2007 Report Abuse
	do they have prescription glasses as they look?
fairchildd All-Star Author Kansas City Posts:684 Points:322,040 Joined:Aug 2007	Message Posted: 5/16/2008 10:20:33 AM	Ignore fairchildd Report Abuse
	how about doing something instead of just looking?
woos777 Champion Author Washington Posts:1,400 Points:627,630 Joined:Sep 2006	Message Posted: 5/16/2008 10:20:02 AM	Ignore woos777 Report Abuse
	This is a "Yeah right, whatever" article.
JRFAN88 Rookie Author Ontario Posts:18 Points:15,735 Joined:Apr 2008	Message Posted: 5/16/2008 10:19:33 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 10:19:16 AM	Ignore Mononen Report Abuse
	deeper look? "very carefully"? ACTION NOW! Do something! Everyone is waiting.
Don20 Champion Author Oklahoma City Posts:1,307 Points:971,305 Joined:Mar 2005	Message Posted: 5/16/2008 10:15:40 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:2,000 Points:402,340 Joined:Jun 2007	Message Posted: 5/16/2008 10:14:19 AM	Ignore s6sputnik Report Abuse
	Wasting more money, but making themselves look legit?
w4kh Champion Author Riverside Posts:3,454 Points:600,295 Joined:May 2004	Message Posted: 5/16/2008 10:13:53 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 Champion Author Alabama Posts:1,176 Points:912,185 Joined:Apr 2005	Message Posted: 5/16/2008 10:13:04 AM	Ignore CheapoBob Report Abuse
	yea, right
niceguytx Champion Author Houston Posts:5,476 Points:1,062,295 Joined:Sep 2005	Message Posted: 5/16/2008 10:11:05 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:6,225 Points:1,062,920 Joined:Sep 2005	Message Posted: 5/16/2008 10:07:34 AM	Ignore Gas_Buzzer Report Abuse
	What exactly is "A deeper look"?
REVLAW Champion Author San Antonio Posts:1,879 Points:354,235 Joined:Jul 2007	Message Posted: 5/16/2008 10:05:48 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:5,781 Points:964,120 Joined:Sep 2005	Message Posted: 5/16/2008 10:04:45 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:174 Points:360,035 Joined:Dec 2006	Message Posted: 5/16/2008 10:02:38 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:10,959 Points:1,325,990 Joined:Jun 2004	Message Posted: 5/16/2008 10:01:41 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:1,487 Points:338,090 Joined:Sep 2007	Message Posted: 5/16/2008 10:01:28 AM	Ignore GooseMI Report Abuse
	Another two year project
AC-302 Champion Author Los Angeles Posts:7,852 Points:1,272,880 Joined:Aug 2004	Message Posted: 5/16/2008 10:00:45 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:936 Points:413,355 Joined:May 2005	Message Posted: 5/16/2008 9:59:11 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 9:58:09 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:18,620 Points:1,483,420 Joined:Aug 2004	Message Posted: 5/16/2008 9:57:37 AM	Ignore kingdick Report Abuse
	Most state and federal gas taxes are a fixed rate X cents per gallon.
scrounger Champion Author Vancouver Posts:6,069 Points:1,644,295 Joined:Mar 2003	Message Posted: 5/16/2008 9:53:26 AM	Ignore scrounger Report Abuse
	GREED!!!!
Bity Veteran Author Wichita Posts:390 Points:45,660 Joined:Jan 2007	Message Posted: 5/16/2008 9:50:36 AM	Ignore Bity Report Abuse
	We need more action!
DeHavilland Champion Author Toronto Posts:1,738 Points:400,670 Joined:Jun 2007	Message Posted: 5/16/2008 9:49:41 AM	Ignore DeHavilland Report Abuse
	Retowered is right. Greed is the only reason.
Retowered All-Star Author Colorado Posts:756 Points:1,044,105 Joined:May 2004	Message Posted: 5/16/2008 9:47:06 AM	Ignore Retowered Report Abuse
	What happend to diesel it used to be the cheapest then greed took over.
Zacchaeus Sophomore Author Missouri Posts:136 Points:1,011,495 Joined:Oct 2004	Message Posted: 5/16/2008 9:46:45 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 All-Star Author Portland Posts:501 Points:72,200 Joined:Jul 2007	Message Posted: 5/16/2008 9:44:14 AM	Ignore rod1965 Report Abuse
	yeah big oil, why has it risen? Are you finally showing your hand?
Brockvillian Veteran Author Ontario Posts:437 Points:277,245 Joined:May 2007	Message Posted: 5/16/2008 9:40:25 AM	Ignore Brockvillian Report Abuse
	I'd like to know too.
Sealer Champion Author Charleston Posts:2,284 Points:256,605 Joined:Jan 2008	Message Posted: 5/16/2008 9:39:22 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 Sophomore Author North Carolina Posts:205 Points:96,555 Joined:Aug 2006	Message Posted: 5/16/2008 9:36:59 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 9:36:44 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:2,166 Points:755,005 Joined:Oct 2005	Message Posted: 5/16/2008 9:34:38 AM	Ignore Laser917 Report Abuse
	"deeper look" does that mean a deeper hole for us to dig out of?
Rajah Champion Author Illinois Posts:2,058 Points:872,000 Joined:Jul 2005	Message Posted: 5/16/2008 9:32:11 AM	Ignore Rajah Report Abuse
	We don't need "deeper looks", we need some "Deeper action".
rvnvet70 Champion Author Michigan Posts:1,627 Points:948,700 Joined:Sep 2005	Message Posted: 5/16/2008 9:31:01 AM	Ignore rvnvet70 Report Abuse
	Just another run a round.
DooDaa Champion Author Massachusetts Posts:3,446 Points:761,185 Joined:Dec 2004	Message Posted: 5/16/2008 9:26:51 AM	Ignore DooDaa Report Abuse
	Go get them..