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."
Later, have a safe drive.
I never said anything remotely like that.
I'd really be interested to know what you base that on. What is the constituency that just craves to vote GOP, as long as the GOP keeps the boutique fuels in effect and refrains from getting any new refineries going?
Gold?
I agree with iscool. I think we should do anything!
A better way to put it would be: "Prices which come as the result of a free and unfettered market are better for the economy than prices determined any other way".
Which I agree with.
But I do not agree that the oil market is free and unfettered.
I base it on a country that I opine would disdain Bush attacking Iran or whatever he will have to do to fulfill your first suggestion.
I base the next one on conservatives liking him even less if he tried to expand his power to usurp that of congress on some of your other suggestions.
And we agree that attacking "gougers" is poisonous pandering.
You and I apparently disagree on government efforts to increase supply (although up-thread you did tell me "Don't think I don't agree with your ideas in principle")
What this seems to leave you with as an Administration policy, is telling the public to grin and suck it up.
Which probably plays a lot better on FR than it does on main street.
EOs are legal. I believe the EPA can even waive this on their own, its a proviso in this mandate. So I don't know what you are talking about.
I disagree with you. Oil is prices via the US Dollar and Bush has spent an extra 3 Trillion plus! Also demand is up via the China & India.
A gallon of Evian still cost more than a gallon of gas.
This female could be more expensive than a life time
supply of petrol and worth it.
Happy Driving...
Well that too! ;-) But silver, copper, they all do fine....
I get first dibs on a jammies tantrum.
Reminds me of my famous jammie-dance:
That's no animation, that's a photo-realistic depiction of me, doing my happy-jammie-dance. I love my green jammies.
The reason Republicans don't care about Congress's powers being usurped is because Congress isn't doing anything conservative.
No wonder you got the girl!
Actually, that is not so.
You suggested executive orders to do things which I think are "undoable" by executive order. So we have a disagreement on what and how things can be done.
Heh!
I'm counting my blessings these days.
Republicans are the reason for that.
I'd much rather he be concerned about illegal immagration and keep a close watch out for illegal border crossings!
Of course it is. Look at the recent decline in SUV sales, for example. Demand for gas is inelastic, but not perfectly so.
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