Leaders Question Gasoline Prices (Hastert, Frist to ask for Probe)

Washington Post ^ | April 21, 2006 | Steven Mufson and Timothy Dwyer

[rightwingintelligentsia]

Congressional leaders yesterday planned to ask President Bush to order investigations into possible price gouging by oil companies as crude oil prices hit new highs on world markets and average gasoline prices in the nation's capital blew through the $3-a-gallon mark.

House Speaker J. Dennis Hastert (R-Ill.) and Senate Majority Leader Bill Frist (R-Tenn.) are preparing to send a letter to the president Monday asking him to direct the Federal Trade Commission and Justice Department to investigate alleged price gouging and instruct the Environmental Protection Agency to issue waivers that might make it easier for oil refiners to produce adequate gasoline supplies, Hastert spokesman Ron Bonjean said.

Hastert and Frist's letter comes amid charges by some consumer groups and Democrats that oil companies have manipulated refineries and oil inventories to drive up prices. Hastert also took aim at the rich pay package for Exxon Mobil Corp.'s retired chief executive, which he called "unconscionable."

Yesterday, oil prices climbed to a new record, unadjusted for inflation, with benchmark crude rising $1.48 to settle at $75.17 a barrel on the New York Mercantile Exchange. Average gasoline prices in the District reached $3.02 a gallon, up 3 cents from the day before.

AAA Mid-Atlantic moved to discourage panic. "We caution drivers against hoarding or panic-buying. If one gas station is out, the next one will have fuel," said John B. Townsend II, AAA Mid-Atlantic's manager of public and government affairs.

[beyond the sea]

"The GOP / WH need to go on the offensive on this issue. It is made to order for pointing out the costs of wrong headed liberal policy! - Yet these fools are walking right into what the MSM / DEMs want them to do! - Demonize the private market place! If the GOP hand any stones they could turn this issue on the DEMs in a heart beat!" ----

****

Right, this is sickening to watch. The Republicans and Frist are acting like they have no spine and no desire to win elections.

[beyond the sea]

The Republicans and Frist are acting like they have no spine and no desire to win elections

---

could that be true??

[Nathan Zachary]

I don't know why the shale deposits aren't being mined. Alberta is making a fortune off a very simular processing technology. Soon the Alberta government will be driving gold plated cars. These prices aren't hurting Canadian government coffers, that's for sure. You'd expect cheaper gas across the border, but that's not the case. They are tied to world market prices, and it's a boom for Canadians.

If we would tap into shale, it could be a boom for anyone living around there as well. But NOOOOOO, we have stupid enviromental protection policies in place to scare off anyone thinking about investing money into that project.

[Moby Grape]

It is NOT just supply and demand this time. Where there were hurricanes, etc. interruping supply, the higher prices made sense, but this time, the prices began rising rapidly even BEFORE crude oil prices rose. In fact, when the spike began crude prices were down.

Secondly, the citizens what to know WHY, and the republicans leading efforts to get to the core reasons is a SMART move...because the DEMS WILL and they are already making gas prices a campaign issue.

[Moby Grape]

The are calling for a probe because they are getting ANGRY letters from constituents, and because they understand the POLITICAL ramifications of this. If the GOP sits back and lets the DEMS call for hearings, while they poo-poo the idea, there will be trouble for the GOP.

History often turns of perception, rather than reality.

[SevenMinusOne]

Idiots this stupid deserve to loose.

I agree with you here to a large degree.

However our soldiers in the field deserve better then to have the ilk of the Democratic party in a majority in any branch of Congress.

Our soldiers deserve better and our GOP base needs to come together and turn out in force this Nov. The GOP clearly hasn't handled every situation in a manner in which many of us would like....but there are times to step away from them and times not to. This is a time in history again where the ilk of the Democrat party cannot be allowed to hold a majority in any branch of Gov't.

[Iscool]

Its just supply and demand

And that makes it all right??? When gas goes to 6 or 8 bucks a gallon, it all right because 'they' have the supply and 'we' have the demand?

It's just the free market at work so it's a ok...

[goldstategop]

Republicans ought to be defending the free market. Instead, they shamelessly want to out demagogue the Democrats on oil. The oil companies are being rapped for making a profit. But as Rush said, don't look for the politicians to ever propose repealing federal taxes on gas.

(Denny Crane: "I Don't Want To Socialize With A Pinko Liberal Democrat Commie. Say What You Like About Republicans. We Stick To Our Convictions. Even When We Know We're Dead Wrong.")

[P-Marlowe]

I don't know why the shale deposits aren't being mined.

Yes you do.

[moog]

Don't forget Clinton doing some action to prevent it years ago.

We have more potential deposits of oil than we could ever think of. It has been nice to see an increase in oil drilling going on in my relative's area. My grandpa took me on a little trip to see some of them. Pretty impressive.

[SevenMinusOne]

The are calling for a probe because they are getting ANGRY letters from constituents, and because they understand the POLITICAL ramifications of this. If the GOP sits back and lets the DEMS call for hearings, while they poo-poo the idea, there will be trouble for the GOP.

Wrong. This issue is made to order for the American public to have an target to vent on!...that is the wrong headed costly Democrat supported environmental regs of the last 30 years. The constant gridlock on any sensible energy legislation over the past 5 years.

History often turns of perception, rather than reality.

To a degree yes...and to another degree no. But with that said this issue currently allows for us to clearly change the "perception" quickly that is is wrong headed Democratic policies that have put us here - There is plenty of time before Nov to make the case to the American public (the facts are on our side without question! Use them).

[kjo]

Something has happened to the Republican Party. They have been reacting instead of setting the agenda.

Where is Rove? What the heck is he waiting for? Does he want to get closer to the election?

Are they all asleep over at the White House and on the Hill?

"Earth to White House, Earth to White House...stand up and fight like men".

[Nathan Zachary]

Carefull, any claims contrary to the "fossil fuel" theory will bring out the attack dogs around here. Regardless, there is overwelming evidence that rock oil is indeed how oil is produced. at what rate we don't know. There are people here that think it's too hot at those depths for oil to be made, but what they don't know is deep hole testing proves that temperatures decrease after certain depths, the whole theory of earth core-layer composition isn't what "scientists" thought it was.

Mysteries of the Inner Earth

[stopem]

Guess they didn't get the Memo ;)

[beyond the sea]

Right.

[goldstategop]

The socialist Bernie Sanders wants a windfall tax on oil profits and wants to confiscate the retirement package of MobilExxon's chairman. Its the politics of envy at work here. Imposing additional taxes on oil profits would simply drive up the price of gas at the pump and taking away $400 million from a guy who made his company profitable through hard work wouldn't put one dollar in any of our bank accounts. The last concern of demagogues though, is with the truth. It isn't the rapaciousness of government that is the wrath of their ire; its the oil companies who keep this country running despite the fact they don't own a single drop of oil! You would think grandstanding politicians would take a moment to reflect that gas is still cheaper than bottled water in the grocery store. Nah, in an election year, don't hold your breath waiting for them to be bothered by the facts. And the facts don't lie.

(Denny Crane: "I Don't Want To Socialize With A Pinko Liberal Democrat Commie. Say What You Like About Republicans. We Stick To Our Convictions. Even When We Know We're Dead Wrong.")

[backhoe]

I just want to rip my hair out every time I see these demagoguing, pandering, economically-ignorant "critters" in Congress or the Senate hold yet another pointless, fruitless "hearing" where they browbeat oil company executives.

Allow me to drop out of Lurk and Link Mode for a brief bit of commentary- we all need to get serious about our dependency on foreign sources of energy, and use our own resources.

Our consumer-based economy is driven by and dependent on readily-available, reliable energy-- choke that off, and we'll all be back to using one rotary dial phone in the dining room, watching one TV, and driving one car per family-- probably a Hudson Hornet or a Rambler...

We need to

1) end the nonsensical ban on offshore drilling off California and Florida--read & weep:
Castro Plans to Drill 45 Miles from US Shores, But We Can't

2) build a lot of next-generation nuclear power plants, not just for electricity, but for any process requiring heat, power, or steam.
And if we replaced our existing nuclear plants with this one there would be significant benefits.

3) end Jimmy Carter's idiotic ban on recycling nuclear waste, and reprocess the stuff rather than fighting over where to bury it. Europe has done this for decades.-- what to do with spent nuclear fuel? Answer here: http://www.freerepublic.com/focus/f-news/1468321/posts?page=50#50 hattip:  Mike (former Navy Nuclear Engineer)

4) use the 300-500 years worth of coal we have on our own land, using the new clean-coal technology.
-Clean Coal Centre--

5) and finally, there's nothing wrong with conservation, we should all practice it- but you can't conserve your way out of a shortage. Nor is there anything wrong with "alternative" energy sources- except they don't supply the vast ( not to mention readily-available ) amounts of power we need at a price competitive to more conventional sources.

We do need to get serious about this before we get strangled by a bunch of petty thieves and dictators who don't like us much.

My tongue-in-cheek collection of energy-related links:

Sticker Shock-$3 a gallon gas? Click the picture:

And kindly note, and note well-- the first reply to this post ( when gas was $1.45 a gallon ) was derisive... so, who's laughing now? Drudge reported $4.04 a gallon gas in CA yesterday...can you say "$6.00 a gallon" class?

[ThreePuttinDude]

I keep getting mail requesting donations from local and
national GOP candidates/groups. Lately I've been saving
my cash gas receipts and sending them in the SASE's and
including a little note telling them that I've spent their
donations on GAS.

I also told them if they want my donation to the GOP,
do something about the GAS GOUGING.

[goldstategop]

What are liberals complaining about? Now that we pay European prices for gas, they ought to be happy! What is every one getting so upset at the oil companies for? With all the obstacles in the way of domestic production, its a wonder gas isn't ten times more expensive than it currently is. If anything, the price of gas is too low to drive down the demand. This illustrates like nothing else, congressional hypocrisy about energy and conservation. In a sane world, the oil companies would be applauded for higher prices to encourage less fuel use. Instead, they're getting blamed for not letting Americans indulge in their gas guzzling habits! If this wasn't so bollixed up, I wouldn't know whether to laugh or to cry amidst all the demagogery in Washington.

(Denny Crane: "I Don't Want To Socialize With A Pinko Liberal Democrat Commie. Say What You Like About Republicans. We Stick To Our Convictions. Even When We Know We're Dead Wrong.")