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| Permalink View Article Stats Oil Company Execs Defend Profits to Senate, With an Assist by the Bush FTC Quicklink submitted by Douglas Drenkow (Add your own quicklinks easily with the OpEdNews Quick Link Browser bookmark) |
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| The head of the Federal Trade Commission said a federal price-gouging law 'likely will do more harm than good.' 'While no consumers like price increases, in fact, price increases lower demand and help make the shortage shorter-lived than it otherwise would have been,' FTC Chairman Deborah Platt Majoras told the hearing. 'That's an astounding theory of consumer protection,' replied Sen. Ron Wyden, D-Ore. |
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