WASHINGTON,
D.C. - Following a meeting arranged by U.S. Senator Dick Durbin (D-IL)
with Federal Trade Commission Chairman Robert Pitofsky, U.S. Representative
Jan Schakowsky (D-IL) today applauded the news that a formal investigation
has been launched to look into the high gas prices in Chicago and Milwaukee.
The FTC will issue its interim report in 30 to 45 days.
“Chairman
Pitofsky has made it clear that the FTC has collected enough information
to warrant a formal investigation of the oil industry and will be issuing
subpoenas in the coming weeks. He told us that he had not seen a
price spike (like the one we are seeing in Chicago and Milwaukee) anywhere,
and that he had heard a lot of explanations, but none of them quite ‘get
us there,’” Schakowsky said.
“The
Chairman’s actions support my suspicion that the oil companies are gouging
consumers and punishing Chicago and Milwaukee for using ethanol,” Schakowsky
added.
Oil
companies sell fuel reformulated with ethanol in the Chicago and Milwaukee
markets, a corn-based product. Schakowsky pointed to national figures
that show Chicago and Milwaukee paying an additional 40 cents or more per
gallon than the other 15 cities that are required to use cleaner gasoline,
but do not use ethanol. |
