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Nov06

FTC Market Manipulation Rulemaking

The Federal Trade Commission (FTC) staff will host a workshop on Thursday, November 6, 2008, to discuss the FTC’s proposed petroleum industry market manipulation rule and the comments received in...

Paul L. Foster, Western Refining, Inc., and Giant Industries, Inc., In the Matter of

The Commission issued an administrative complaint and initiated federal court action to block Western Refining, Inc.’s $1.4 billion proposed acquisition of rival energy company Giant Industries, Inc. to preserve competition in the supply of bulk light petroleum products, including motor gasoline, diesel fuels, and jet fuels, in northern New Mexico. After a week-long trial, the federal district court denied the Commission’s motion for a preliminary injunction, rejecting arguments that Giant had unique opportunities to increase supply and lower fuel prices in northern New Mexico. In October of 2007, the Commission dismissed its administrative complaint, concluding that further prosecution would not be in the public interest.

Type of Action
Administrative
Last Updated
FTC Matter/File Number
0610259
Docket Number
9323