Posted on 04/18/2006 8:09:46 AM PDT by ex-Texan
WASHINGTON (Reuters) - President George W. Bush said on Tuesday he is "concerned" about high gasoline prices, and pledged that the U.S. government will keep a close watch out for profiteering.
"I'm concerned about higher gasoline prices," Bush said at a Rose Garden news conference to name new staff appointments.
"The government has the responsibility to make sure that we watch very carefully and investigate possible price-gouging, and we will do just that," Bush said in unprompted remarks about energy prices.
U.S. crude oil futures hit a record of $70.88 a barrel on Tuesday on fears of supply disruptions in Iran stemming from its nuclear standoff with the West, as well as lingering outages in Nigeria.
U.S. retail gasoline prices rose 10 cents last week to average $2.78 a gallon, up 29 cents over the last three weeks and 55 cents higher than a year ago, the government said on Monday.
Bush said high crude oil prices, rising summer driving demand and a switch to new motor gasoline standards is keeping gasoline prices high.
"It's tight supply worldwide and we've got increasing demand from countries like India and China, which means that any disruption of supply ... (is) going to cause the price of crude to go up," Bush said.
More drivers will take to the road this summer, which will also boost demand, he said.
"At this time of year people are beginning to drive more, getting out on the highways, taking a little time off," Bush said. "That increasing demand is also part of the reason the price of gasoline is going up."
HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA!
OJ is still looking for the real killer too!
Little late to be complaining....they told us last year that the gas prices would reach $3.00 a gallon by this summer....all due to Katrina....which I think is BS....
We need to quit driving for a week, or not buy gas for a week and try to shut this thing down....only way to get a point across is hit em in the pocket book....
"or not buy gas for a week and try to shut this thing down....only way to get a point across is hit em in the pocket book...."
And who's them?
Build more refineries, build nuclear power plants, drill ANWAR, kill the mullahs = lower oil prices.
"Concerned?"
I'd prefer, "Pissed."
dems blocked anwr, new refineries, and mtbe liability protection.
dems want high gas prices, sierra club loves high gas prices.
Any bets on as the prices at the pump get higher, W's poll numbers drop even further? What do we suppose will happen in November if prices are 4 or 5 dollars a gallon in August? I think someone, maybe the President himself should use the argument, "Well in Europe they are paying...."
Yeah. That's gonna be interesting.
When you buy stock in the stock market and eventually sell it at a profit, aren't you "price gouging?"
Exactly what do you think the free market is all about?
Countries that attempt to control prices are ALWAYS economic disasters with stores with cheap prices but empty shelves.
Would you rather have no gas at a really cheap price, or enough gas to conduct your business at whatever price the market dictates at the time and place you need it?
A simple solution would be to drop all taxes on gas.
That would require someone with a spine and that hasn't been seen in DC in a long while.
dems blocked anwr, new refineries, and mtbe liability protection.
And the gop sat on their hands.......................bought off by the oil company lobbyists, right?
It turned out to be a win/win for Washington politicians while WE foot the bills.
Fox, meet henhouse.
Yes, sure, right on the job Bush. Let us see now, yes, that is about right. Gotta be careful what we say about those big donors. And of course, either never, or at least three years after the fact, say something about it.
Just like illegal immigration and open borders.
Nice try Bush.
Prices for oil are set on the world market, not U.S. Are those people calling for U.S. governmental "control" of prices suggesting a unilateral U.S. takeover of oil markets?
Thank Sy Hersh for the recent rise in gas prices.
Also thank the dems who are blocking all drilling. Supply and demand issues.
Oil companies are greedy as hell but they are not the real reason behind the gas increases.
The real enemy is the moron speculators on wall street.
They are pricing in 20 dollars for a war on iran which isn't going to happen.
I don't know how many times Bush has to deny Sy Hersh's lies for the markets to get a clue.
I have never been a fan of price controls but with the morons on the trading floors that might have to be the answer.
Supply is the same as it was three years ago but the difference is the crazy speculation.
The gas companies greed is only 10 percent of the increase the real enemy are the traders who are trading crude oil and making a fortune.
Amazing that these oil traders don't get the blame when they are ripping off the public for their own greed.
Enough is enough rein them in.
Without the moronic speculation crude would be trading at 40.
While I don't disagree with what you have pointed out, don't you think there is a tipping point beyond which we have serious economic problems simply due to the cost?
The only "plan" Republicans have is waiting to lose Congress so they can say its the Democrats fault.
The worst gouging going on is the government taxation of motor fuels.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.