Posted on 04/22/2006 3:27:41 AM PDT by 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.
(Excerpt) Read more at washingtonpost.com ...
It would be better to educate people so that their perceptions coincide with reality rather than to reinforce false perceptions. Or have the RINOs gone off the deep end with the liberals in believing there is no such thing as absolute truth?
You speak the truth, and the truth will set you free...
You can't change laws of economics any more than you can change the laws of gravity. If you pass a law limiting the price of gasoline, you will immediately create a shortage.
So you have a choice. Long gas lines or high prices.
Then only way to fix it is to increase the supply or reduce the demand.
You should lurk less and post more.
Whatever the government does about gas price will hurt a lot more than it does now. Price controls will result in long gas lines (how much is your time worth).
Some fools want to raise taxes on gasoline. Jimmy Carter tried that. He wasn't re-elected.
they ought to probe themselves for requiring Ethanol and not giving protection to MTBE
Every stinkin' spring, fer cryin' out loud.
Thank you both... I try to subscribe to that old theory, better to keep your mouth shut and be thought a fool than open it and remove all doubt...
Go for it.
If these idiots really wanted to help the situation, they would open up Alaska to more drilling, and streamline the pile of regulatory BS that is preventing the building of any new refineries. Oh, and get rid of the overreaching environazi policies that require wasting good ethanol on cars.
One other point - as expensive as my gasoline bill is every month, it is absolutely insignificant in comparison the the huge amount of tax dollars that the federal government steals from my paycheck. I may pay almost $1000 for gas for this entire year. Income tax alone is much larger than that, not including social security tax and all the other excise and sales taxes that dot-gov gets to steal from me (primarily to buy liberal voters).
I agree that this issue CAN be turned on the Dems (but you and I both know how inept the GOP is with such a task) Dems are FAR better at exploiting an issue (plus that have media's help).
However, I am finding in my conservative circles much suspicion THIS time towards big oil, even anger. Bush's downward poll numbers, as some have pointed out, follow the up tick of gas prices. The prices spiked considerably before crude prices began their rise....I am, and continue to be, a FREE market guy, but there is something amiss here....the prices began rising before the crude prices, so I want to know why....Big Oil could be handing control of Congress to the Dems by this.
I am convinced that Frist and Hassert are making this move BECAUSE they are HEARING from GOPers, not simply picture posing for the media.
Or maybe we should send some of those same people and they could tell them that if you are "tired of paying for high gas prices, you should open your OWN oil and gas company."
Which is MORE BRILLANT and (very)practical advice. /sarcasm
After all, we can ALL open our OWN oil company. Right?
prices go up in spring,
because federal law changes the content
of summer gasoline
Bush could make this beter, with the stroke
of a pen
I am hearing reports from some of the financial gurus that futures investment is the single largest contributor to the spike in prices (don't know if this is true). IF this is true, it should be investigated...there COULD be some players interested in getting DEMS elected that are pouring money into the futures.
The last spike was caused, the experts said, but the Hurricanes effect upon distribution and refining....so if the prices fell again to below $2.00 (briefly), and there are NO hurricanes, no winter storms, and crude prices had fallen, then WHY have the prices spiked, sometimes more than 20 cents per gallon over a three day period....there is SOMETHING else at play....I want to know what...and so do VOTERS.
Let's see: Congress is criticizing the EPA for implementing the laws that Congress passed.
"...because the DEMS WILL and they are already making gas prices a campaign issue."
It's the democraps constituants that are being hurt by high gas prices.
Personally I would benefit if prices went even higher and a lot of the democraps constituants got parked by lack of funds to fuel their cars and greatly improved traffic.
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