Price gouging, or capitalism? I wonder if Spitzer would be going after Glock/SIG/S&W if they raised their prices after a natural disaster- or terrorist strike... 
</sarcasm>
Would gunmakers/distributors/retailers be justified in hiking firearm or ammo prices in such emergencies? We already know that demand would go through the roof...
http://wcbs880.com/topstories/local_story_353173557.html
15 NY Gas Stations Fined for Gouging
Many Marked Up Gasoline Received Before Hurricane
Dec 19, 2005 3:32 pm US/Eastern
Fifteen gas stations statewide, including three controlled by oil companies, have been fined $63,500 for marking up profits 25 percent or more after Hurricane Katrina struck the Gulf Coast, state Attorney General Eliot Spitzer said Monday.
Retail prices paid by consumers increased notably after Katrina struck in late August. But Spitzer focused on the markup, or profit, at the pump when it far exceeded the cost of the gasoline paid by the retailer, often in shipments well before the hurricane.
"You cannot under New York law, and you cannot in good conscience, take advantage of an environmental debacle to extract unfair prices,'' said Spitzer.
A subsidiary of Getty Oil Co. increased its price at its Hancock store east of Binghamton from $2.65 per gallon before Aug. 29 to $3.52 after Aug. 29, when complaints of price gouging began. BP Amoco increased the price at its Westchester Avenue station in the Bronx from $2.79 per gallon to $3.51 after Aug. 29, Mack said. Lukoil Co., one of Russia's largest oil producers, increased the price at its Bronx station on Bruckner Boulevard to $3.49 per gallon, from $2.79.
The companies were fined under the state's business law, and the fines were civil actions. The attorney general's office had no jurisdiction to bring criminal charges and there is no specific state crime against price gouging, state Deputy Attorney General Martin Mack said.
Spitzer set the threshold of marking up the profit at 25 percent to capture the most egregious statewide cases. He said the 25 percent point should be drafted into law.
The fines ranged from $2,000 to the maximum $10,000 and were assessed to match the ill-gotten profit, said Spitzer, a Democrat running for governor in 2006.
Other prices were set by regional dealers or gas station owners.
In Westchester County, Hilltop Service Station in Shrub Oak increased its price from $2.69 a gallon to $4 a gallon, Spitzer said.
Prices spiked nationwide after the hurricane, prompting hearings and accusations of price gouging in Congress. Westchester County Executive Andrew Spano took action locally against stations and forwarded findings to Spitzer.
Spitzer said he was "curious'' about the potential role of oil companies. While he said there is a potential of price gouging when an oil company controls prices and costs from the oil derrick to the gasoline pump, he noted the industry is complex and he hasn't drawn any conclusions.
"This inquiry has spawned a series of concerns in the oil industry,'' Spitzer said. He said he is discussing the findings with other states and said the U.S. Justice Department and Federal Trade Commission should be involved.
In September, New Jersey sued three oil companies and several gas stations for allegedly gouging drivers during Hurricane Katrina. The state accused Hess, Motiva Shell and Sunoco with artificially inflating gas prices and for increasing prices more than the once-a-day legal limit. Independent gas station operators selling Hess, Shell, Sunoco and Citgo brands were also sued.
"When disaster strikes, state law requires that price increases be linked directly and proportionately to increased costs,'' Spitzer said in a prepared statement. "This investigation has found numerous instances of unwarranted price increases. In fact, many retailers appear to have used the disaster as an excuse to gouge consumers.''
Spitzer investigated 80 gas stations following complaints by consumers of prices immediately after Katrina. Monday's announcement concerns 15 of the more serious cases, but the investigation against other retailers continues, Spitzer said.
Spokesmen for Hilltop, BP Amoco and Lukoil didn't immediately respond to requests for comment.
(Copyright 2005 by The Associated Press. All Rights Reserved.)
</sarcasm>Would gunmakers/distributors/retailers be justified in hiking firearm or ammo prices in such emergencies? We already know that demand would go through the roof...
http://wcbs880.com/topstories/local_story_353173557.html
15 NY Gas Stations Fined for Gouging
Many Marked Up Gasoline Received Before Hurricane
Dec 19, 2005 3:32 pm US/Eastern
Fifteen gas stations statewide, including three controlled by oil companies, have been fined $63,500 for marking up profits 25 percent or more after Hurricane Katrina struck the Gulf Coast, state Attorney General Eliot Spitzer said Monday.
Retail prices paid by consumers increased notably after Katrina struck in late August. But Spitzer focused on the markup, or profit, at the pump when it far exceeded the cost of the gasoline paid by the retailer, often in shipments well before the hurricane.
"You cannot under New York law, and you cannot in good conscience, take advantage of an environmental debacle to extract unfair prices,'' said Spitzer.
A subsidiary of Getty Oil Co. increased its price at its Hancock store east of Binghamton from $2.65 per gallon before Aug. 29 to $3.52 after Aug. 29, when complaints of price gouging began. BP Amoco increased the price at its Westchester Avenue station in the Bronx from $2.79 per gallon to $3.51 after Aug. 29, Mack said. Lukoil Co., one of Russia's largest oil producers, increased the price at its Bronx station on Bruckner Boulevard to $3.49 per gallon, from $2.79.
The companies were fined under the state's business law, and the fines were civil actions. The attorney general's office had no jurisdiction to bring criminal charges and there is no specific state crime against price gouging, state Deputy Attorney General Martin Mack said.
Spitzer set the threshold of marking up the profit at 25 percent to capture the most egregious statewide cases. He said the 25 percent point should be drafted into law.
The fines ranged from $2,000 to the maximum $10,000 and were assessed to match the ill-gotten profit, said Spitzer, a Democrat running for governor in 2006.
Other prices were set by regional dealers or gas station owners.
In Westchester County, Hilltop Service Station in Shrub Oak increased its price from $2.69 a gallon to $4 a gallon, Spitzer said.
Prices spiked nationwide after the hurricane, prompting hearings and accusations of price gouging in Congress. Westchester County Executive Andrew Spano took action locally against stations and forwarded findings to Spitzer.
Spitzer said he was "curious'' about the potential role of oil companies. While he said there is a potential of price gouging when an oil company controls prices and costs from the oil derrick to the gasoline pump, he noted the industry is complex and he hasn't drawn any conclusions.
"This inquiry has spawned a series of concerns in the oil industry,'' Spitzer said. He said he is discussing the findings with other states and said the U.S. Justice Department and Federal Trade Commission should be involved.
In September, New Jersey sued three oil companies and several gas stations for allegedly gouging drivers during Hurricane Katrina. The state accused Hess, Motiva Shell and Sunoco with artificially inflating gas prices and for increasing prices more than the once-a-day legal limit. Independent gas station operators selling Hess, Shell, Sunoco and Citgo brands were also sued.
"When disaster strikes, state law requires that price increases be linked directly and proportionately to increased costs,'' Spitzer said in a prepared statement. "This investigation has found numerous instances of unwarranted price increases. In fact, many retailers appear to have used the disaster as an excuse to gouge consumers.''
Spitzer investigated 80 gas stations following complaints by consumers of prices immediately after Katrina. Monday's announcement concerns 15 of the more serious cases, but the investigation against other retailers continues, Spitzer said.
Spokesmen for Hilltop, BP Amoco and Lukoil didn't immediately respond to requests for comment.
(Copyright 2005 by The Associated Press. All Rights Reserved.)
