Schumer wants to bust up oil giants

The Buffalo News reports:

Sen. Charles E. Schumer says competition in the gasoline business has been undermined by mergers and Congress should consider breaking up the combines.

The New York Democrat also asked the Federal Trade Commission to monitor the relationship between U.S. refining capacity and gasoline prices to ensure that the new oil conglomerates artificially drive up prices.

"In general, after oil companies switch to producing their summer blends refineries typically operate at or above 90 percent," Schumer said. "This is a regular occurrence."

Senator Schumer forgets that there hasn't been many new oil refineries built in the last 30 years.No word yet on whether Senator Schumer thinks unions in New York should be broken up because they have to much influence on prices and taxes.