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Senate probe uncovers energy profiteers in Los Angeles basin
Senate investigators led by Senator Henry Jackson reveal through a staff study that public utilities in Los Angeles, Burbank, Glendale, and Pasadena faced oil price manipulation by brokers and investors. The report details failed deals, inflated costs up to 25 dollars per barrel, and attempts to source fuel oil from Romania and Peru amid a regional shortage.
MENTIONED IN THIS ARTICLE
Washington
Henry Jackson
D-Wash
Senate
Los Angeles Basin
America
Senate Permanent Investigations Committee
Los Angeles
Burbank
Glendale
Pasadena
Southern California Edison
Middle East
Mey
Los Angeles City
Power and Water Department
Burbank Public Service Department
Almacar, Inc
Tytn L. McArthur
Romania
Pacific Gas and Electric Co