[Download] "Do Oil Companies Routinely Price Gouge the Public?" by Academy of Accounting and Financial Studies Journal * Book PDF Kindle ePub Free

eBook details
- Title: Do Oil Companies Routinely Price Gouge the Public?
- Author : Academy of Accounting and Financial Studies Journal
- Release Date : January 01, 2010
- Genre: Business & Personal Finance,Books,
- Pages : * pages
- Size : 248 KB
Description
INTRODUCTION In recent years there has been much discussion on whether or not oil companies arbitrarily increase the price of gasoline at the pump. This has been exacerbated by the profits these companies have shown in recent quarters. Many studies have been undertaken to analyze if indeed price gouging is the driving force leading to these profits. Anderson (2006) asserts that oil company profits do not contribute to higher gas prices. Krantz (2007) states that the relationship between oil and gas prices is cyclical. He concludes that profits are influenced by factors such as world-wide demand and the associated cost of production. Barley (2006) posits that the key influencing factor is the series of mergers and joint ventures that preceded the run up in oil company profits. While Jenks and Clark (2007) state that this is an old issue that dates back to the days of the Standard Oil monopoly. We have too few players today, thus resulting in an oligopoly situation where a few control profits.
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