The Gulf: Barbarians At The Pump

Blasted for gouging, the oil companies trim their price hikes

"I'm asking the oil companies to do their fair share. They should show restraint, and not abuse today's uncertainties to raise prices."

-- President George Bush

The rebuke came from the very top. During his Oval Office speech last week about his decision to send U.S. troops to Saudi Arabia, the President exhorted Big Oil to resist the temptation to profit from a bad situation. Iraqi tanks had hardly arrived in Kuwait a week earlier when the majors started jacking up prices at gas pumps across the U.S. In the first four days, the price of self- serve, unleaded gas rose...

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