Antitrust Suit : Exxon & BP in collusion to drive up natural gas prices !

[elehhhhna]

Dec. 20, 2005, 12:37AM
Alaska suit hits energy giants
Exxon Mobil and BP accused of restricting natural gas supply


By MATT VOLZ
Associated Press

JUNEAU, ALASKA - An antitrust lawsuit filed Monday against Exxon Mobil Corp. and BP claims the two oil giants are restricting the nation's supply of natural gas and keeping prices at record highs.

The lawsuit, filed in U.S. District Court in Fairbanks, says the two companies acted together to eliminate competition for the exploration, development and marketing of natural gas from Alaska's North Slope to U.S. markets.

"The only reason for them to collusively not to sell is to try to continue the scarcity that has driven natural gas prices to historic highs," said David Boies, the attorney for the Alaska Gasline Port Authority, which filed the lawsuit.
http://www.chron.com/disp/story.mpl/business/3536484.html

[SharonAnn]

1. But of course. That's how Monopolies and Oligopolies do things.

[tridim]

2. But BP has all those warm and fuzzy, feel good commercials

Certainly they'd never do something like this to their customers. :sarcasm: