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Article: FEDERAL TRADE COMMISSION SEEKS COMMENTS ON PROPOSED RULE PROHIBITING PETROLEUM MARKET MANIPULATION
- Article from:
- US Fed News Service, Including US State News
- Article date:
- August 13, 2008
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The Federal Trade Commission issued the following press release:
The Federal Trade Commission today issued a Notice of Proposed Rulemaking (NPRM) seeking public comments on a proposed rule prohibiting market manipulation in the petroleum industry. The NPRM will assist the Commission in determining whether, and in what ways, it should develop a final rule. The Commission expects to conclude the rulemaking process by the end of the year.
"The Federal Trade Commission is committed to exercising its authority to determine whether crude oil, gasoline, or petroleum distillates price increases at wholesale are a result of illegal market manipulation," Chairman William E. Kovacic said. "The ...