PROFNET WIRE: BUSINESS & TECHNOLOGY: High Price of Gasoline

April 25, 2006

High Price of Gasoline

1. JERRY TAYLOR, senior fellow at CATO INSTITUTE: "Retail gasoline prices are a function of the price of crude oil in world markets. World crude-oil prices are established in various spot markets around the world in which those with some excess crude sell to those who are a little short. Those actors are the true price setters. 'Big Oil' does not set prices; consumers' willingness to pay determines the pricing, investment and entry decisions of 'Big Oil.' This is true not only in world crude markets but also in retail gasoline markets. Vertically integrated oil companies typically sell gasoline to their franchise service stations at prices that are contractually linked to spot market prices." News Contact: Greg Garner, ggarner@cato.org Phone: +1-202-789- 5263 (4/24/06)

2. JEFF HART, CEO of CADENCE NETWORK, is an energy and expense management expert: "As gas prices hit all-time highs and continue their volatility, businesses need not panic, but they must find alternatives to knee-jerk reactions such as laying off workers or raising the cost of goods sold. With oil at continued record highs, our organization has managed to save millions of dollars for our clients by finding areas of waste, better ways to use energy, spotting billing errors and, most importantly, procuring energy at better prices for our clients." News Contact: Jennifer Riegert, jriegert@jypublicrelations.com Phone: +1-513-388-4700, ext. 3015 (4/24/06)