Tuesday, September 20, 2005

Russia to freeze gas prices

The Associated Press/MOSCOW

By HENRY MEYER
Associated Press Writer

SEP. 19 2:41 P.M. ET Russia's major oil producers agreed at a meeting with Industry and Energy Minister Viktor Khristenko Monday to freeze their domestic gasoline prices until the end of the year, his spokesman said.

"Almost unanimously and absolutely voluntarily, the heads of the oil companies said that they are ready from today to freeze their fuel prices until the end of the year," spokesman Stanislav Naumov said in comments broadcast on NTV television.

Lukoil, the biggest Russian crude oil producer, confirmed it had capped gasoline prices with immediate effect until the end of the year. But no other companies made a similar announcement.
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I give the dem/libs half a day before they're calling for this in the US.

And do I really need to say this is a bad bad bad idea?