No Oil Price Gouging Pattern Found: Although...
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.
Start your day right
Sign up for Essential California for news, features and recommendations from the L.A. Times and beyond in your inbox six days a week.
You may occasionally receive promotional content from the Los Angeles Times.
