Does it really surprise anyone that some Senators have finally dug up some evidence that makes it look like the Oil companies are up to something with gasoline refining and gas prices? Did anyone really think they weren't? Think about it, we all buy gas regardless of the price, which means that if they can conceivably find an excuse to raise prices, they will, and they'll try to keep them just below the point that the outcry cause the government to step in. Note what happened with fuel prices the past few years. It's awfully convenient that before and during the 2000 election, gas prices were at record highs, but as soon as George W. Bush enters office the prices drop precipitously.
Sen. Carl Levin has even dug up a 1999 BP Amoco memo that, "outlined a series of actions that could help maintain high prices in the Midwest, including shipping gasoline to Canada or getting other refiners not to ship fuel into the region." The memo also appears to address, "significant opportunities to influence" the balance of supply and demand in the tight Midwest gasoline market to assure higher prices."
The Senator's report doesn't find any evidence of actual collusion between oil companies, but says that it appears that there might easily be something of the nature going on. Predictably, the oil industry is denying everything, and at the same time trying to keep us from having more fuel efficient vehicles, or using anything but oil fired electric generation plants.
http://www.cbsnews.com/stories/2002/04/29/national/main507550.shtml
http://www.senate.gov/~levin/floor/043002cs1.htm