No Oil Price Gouging Pattern Found: Although...
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From Times Staff and Wire Reports
No Oil Price Gouging Pattern Found: Although the Persian Gulf crisis caused profits of major U.S. oil companies to leap 77% from October to December, 1990, there was no pattern of price gouging, according to a report by an independent federal agency. The profits of the 18 major oil companies grew because of huge crude-oil price increases during Operation Desert Shield, according to the Energy Information Administration report.
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