FEINSTEIN WANTS INVESTIGATION OF CALIF. GAS PRICES

[xchrom]

http://hosted.ap.org/dynamic/stories/U/US_CALIFORNIA_GASOLINE_PRICES?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2012-10-08-10-18-40

LOS ANGELES (AP) -- Sen. Dianne Feinstein has called for a federal investigation into gas prices in California because she doesn't think they are related to supply and demand.

Californians are paying an average of $4.668 a gallon, the highest price in the nation. Many motorists are paying over $5.

Feinstein says that paying hundreds of dollars every time you fill your tank is unthinkable. For the second time in the last few months, the California Democrat has sent a letter to the Federal Trade Commission asking for an immediate probe.

She also asked in August when gas was 45 cents cheaper.

[Tippy]

1. It's about time...

[intheflow]

2. It's ridiculous.

I'm paying $3.58 around the corner from my home in Colorado. There is no reason for there to be more than $1 difference in gas prices anywhere in the nation. I'm guessing it's gouging by Republican gas companies in an election year in a state favoring Democratic incumbents.

[Ikonoklast]

3. California-specific refined fuel.

Yes, it is more expensive, and there are only a few refineries engineered to refine it.

There are multiple reasons California fuel is expensive right now, see: http://www.dailykos.com/story/2012/10/07/1141359/-California-s-Gasoline-Price-Surge-Explained

Gives a good explanation of the current situation.

[porphyrian]

4. Do it. n/t

[flamingdem]

5. AND FAST! nt

[RepublicansRZombies]

6. would the Koch brothers drive the prices up then tell the media to blame Obama?

Put the Blame for Gas Prices where it Belongs-The Koch Brothers! $7.5 billion to $50 billion in 7 yr
http://www.democraticunderground.com/10021493893

[meow2u3]

7. This is the article on how the Kochroaches have been manipulating the oil market

http://thinkprogress.org/report/koch-oil-speculation/?mobile=nc

– October 6, 1986: First oil derivative is introduced to Wall Street by traders at Koch. Koch Industries executive Lawrence Kitchen devised the “first ever oil-indexed price swap between Koch Industries and Chase Manhattan Bank.” At the time, such derivatives had been limited to currency markets, and the shift of creating a synthetic financial instrument based on the value of crude oil was revolutionary. For an agreed-upon period, an oil swap is a contract where one party makes payments based on a fixed oil price, and the other party makes payments back based on the changing spot price of oil. In July of 2009, EnergyRisk magazine, a publication for commodity traders, posted a piece exploring the very first oil derivatives and Koch’s role in developing them.

[Initech]

8. I could point a few fingers for you ( *COUGH* Kochs)

But then again the Krooch's have the money to stop the investigation as easy as turning off a switch...

[HopeHoops]

9. Ours have dropped in recent weeks. I'm expecting a sudden uptick about Halloween.