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You are here: Home / Crime / Courts / Iowa strikes cash in settlement with oil company

Iowa strikes cash in settlement with oil company

November 8, 2000 By admin

Iowa has received its last settlement check from oil companies, which overcharged consumers during a long-ago fuel crisis. Bob Brammer, at the Iowa Attorney General’s office, says the check represents the final significant payment in a multi-state case that dates back to 1973.Brammer says oil companies overcharged customers for gas during a time of federal price controls between 1973 and ’81. The controls were set in place due to runaway prices and a shortage of fuel. Brammer says this last check is the end of a lengthy chapter in Iowa legal history.The final check was for nearly 338-thousand dollars. Since the settlement was reached in the mid-1980s, Iowa has received more than 77-million dollars in payments from the oil companies. Brammer says the funds have gone toward energy conservation efforts, weatherizing of state buildings and toward helping low-income families pay their power bills.

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