House moves on surging oil prices

AP via Yahoo! News ^ | 5/23/07 | H. JOSEF HEBERT

[E. Pluribus Unum]

So there seems to have been a surge in gas prices during mid to late May of 2004, 2005, 2006, and 2007.

Actually, there only seems to be a surge in people claiming a surge in prices at Memorial Day. The actual data does not support their claims.

[Always Right]

So charts and data mean nothing to you. OK, whatever.

[HankReardon]

Here’s a novel thought, PROPOSE TO HELP ENABLE THE OIL COMPANIES TO MAKE MORE GASOLINE!

DUH!

[colorado tanker]

WASHINGTON - The House, eager to do something about record high gasoline prices in advance of the Memorial Day weekend, voted narrowly Wednesday to approve stiff penalties for those found guilty of gasoline price gouging.

Gee, I saw the headline and thought Congress had finally done something to increase supply like open up ANWR and the Outer Continental Shelf, open more BLM land to gas drilling, repeal some of the silly fuel mixing mandates or make refinery expansion easier.

Silly me. Nope, they did something that will have absolutely, positively no effect on supply or price.

[SeaHawkFan]

If the oil companies could get permits to build more refinery capacity, long term prices would decrease significantly.

Maybe the union employees of the oi;d companies need to get on the Democrats for preventing the construction of additional capacity.

[Radix]

If people are willing to pay the current prices for gasoline, then the price is not too high.

That is sort of the way it is supposed to work.

The fact that Congress and State Legislatures are responsible for much of the price is something that should be dealt with at the ballot.

Ha, and the incumbents just keep on somehow getting reelected.

Morons.

[M203M4]

The bill calls for criminal penalties of up to $150 million for corporations and up to $2 million and a jail sentence of up to 10 years for individuals found to be engaged in price gouging.

This does not constitute 'price-controls' the same way that the immigration turd does not constitute 'amnesty', and the same way that partial-birth abortion is not murder - if your brain has been damaged by so-called 'progressivism'.

[thackney]

This surge happens every year before Memorial Day weekend, but this is worse than usual.

So charts and data mean nothing to you. OK, whatever.

Did you try clicking the link that showed the weekly numbers?

U.S. Regular All Formulations Retail Gasoline Prices
http://tonto.eia.doe.gov/dnav/pet/hist/mg_rt_usw.htm

These are the weekly prices in Different years in May.
2006-May / 291.9 / 290.9 / 294.7 / 289.2 / 286.7 / Declining price
2005-May / 223.5 / 218.6 / 216.3 / 212.5 / 209.7 / Declining price
2004-May / 184.4 / 194.1 / 201.7 / 206.4 / 205.1 / Increasing price
2003-May / 151.3 / 149.1 / 149.8 / 148.7 / Slight declining price
2002-May / 139.5 / 138.8 / 139.7 / 138.7 / Flat price
2001-May / 170.3 / 171.3 / 168.7 / 170.4 / Flat price
2000-May / 142.0 / 145.5 / 149.2 / 152.7 / 154.0 / Increasing price
1999-May / 113.6 / 114.0 / 114.0 / 112.6 / 111.1 / / Flat price
1998-May / 104.9 / 106.3 / 107.2 / 107.0 / Slight increasing price
1997-May / 119.3 / 119.3 / 120.3 / 121.2 / Slight increasing price
1996-May / 127.5 / 127.7 / 128.5 / 127.5 / Flat price

Pretty lame trend from the numbers I read.

[Fledermaus]

Dump Ethanol. It’s a joke. Waste of money and resources and you can’t pipeline it.

Doesn’t help gas mileage at all.

[CMAC51]

Like passing out tea cups on the Titanic and asking everyone to bail water.

But hey, it makes it look like they care.

[gbs]

I heard that it’s actually between 10 and 12 cents per gallon, but not much different from your quote, sooooo are we really being gouged by the manufactures or is this just a Dem snowjob!! LOL