Thursday, October 27, 2005

Gouging

It has been confirmed - the oil companies were engaged in despicable price gouging after Katrina and Rita. Link.
NEW YORK (Reuters) - Exxon Mobil Corp. posted a quarterly profit of $9.9 billion Thursday, the largest in U.S. corporate history, as it raked in a bonanza from soaring oil and gas prices.
I'm generally in favor of minimal government regulation of the market, but in this case something is broke that needs to be fixed.