BP is facing legal action in the US over charges that it tried to manipulate propane prices in 2004. Regulators allege its BP Products North America subsidy artificially forced up prices by buying up huge propane stocks only to withhold them from the market.
BP has denied the civil charges and said it intended to defend itself, and added that staff had been dismissed.
Hank Hill must be mortified.
2 comments:
Paul will say that this price manipulation is okay because it helps the market. I'm sure he will also say there is no way that they would do this sort of thing with gasoline...
Wrong. This is anti-free market. If the petro companies do this with petro, they could only succeed via collusion, which is anti-free market, and justly illegal. Without collusion, if one company did this, the others could steal customers with lower priced product.
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