Today while I was searching the net I came across the testimony of Timothy A Hamilton, before the Senate Judiciary Committee in
This is a link to the full story.
His remarks point out the ability of the major oil companies to control the availability and price we pay at the pump. Mr. Hamilton has been the gas station retail business since 1974. His experiences led him to a career change to become involved in governmental affairs and public policy in 1984 when he formed a non-profit trade association of independent gasoline wholesalers and retailers that operate approximately 400 gasoline service stations and convenience stores in
Mr. Hamilton states in his testimony “Decades of consolidation, regulatory lobbying and legal maneuvering by the industry following federal decontrol in 1981 has resulted in formation of international corporations that dwarf the Standard Oil Trust and other monopolies that gave birth to the antitrust concept. One can hardly criticize the drafters for failing to anticipate the evolution of PC computers, internet communications and other modern technology that currently allows the industry to legally use tacit collusion that nearly mirrors the monopolistic powers of the Standard Oil Trust. The same applies to envisioning that the industry would use environmental initiatives to meet, divide up markets, and create barriers to entry and other anti-competitive institutions.
That is one refinery saved, one burned down and one blown up in the past few years. It does seem like the “Big 5” still prevail in their efforts to gouge the American public. When will you, my readers, say “Enough is Enough” and help launch this grass roots effort to “Vote to Regulate Gas Prices”.
People, I do not know the answers. I do, however, see the problem. We can all try to conserve our fuel consumption, but, as Mr. Hamilton testified the “Big 5” will just reduce the available supply.
We must have regulation to control prices at the pump. By not controlling the price at the pump everything we buy, every service we need must also increase prices due to the trickle down affect. To minimize the trickle down affect other companies must cut expenses wherever possible. That means fewer pay increases, increases in off shore manufacturing of goods to reduce labor costs, which in turn means fewer
The “Big 5” has tipped the first domino in a complex