WASHINGTON (AFX) – An internal BP PLC memorandum obtained by a Senate panel investigating gasoline price spikes across the US shows that oil companies believe it is advantageous to depress stocks in order to raise prices, according to Democratic Senator Carl Levin. An 11-month investigation by the Senate Governmental Affairs Committee’s Permanent Subcommittee on Investigations,…
MARKETS: Senator says BP memo shows oil companies try to keep supplies down, prices high
Posted on May 9, 2002 by EnergyAsia