THE WALL STREET JOURNAL: FTC Clears Shell In Refinery Closure
Posted 27 May 2005
By RUSSELL GOLD
Staff Reporter of THE WALL STREET JOURNAL
The Federal Trade Commission has concluded the Royal Dutch/Shell Group wasn’t trying to drive up California gasoline prices by closing a refinery in Bakersfield, Calif. The agency closed a year-long investigation on Wednesday, stating that it could find “no evidence to substantiate” allegations the company was scheming to boost profit margins by squeezing refinery capacity.