Posted on 05/31/2007 1:19:11 PM PDT by Red in Blue PA
SAN FRANCISCO - Democratic presidential hopeful John Edwards says a wave of mergers in the oil industry should be investigated by the Justice Department to see what impact they have had on soaring gasoline prices.
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During a campaign stop in Silicon Valley Thursday, Edwards planned to berate the oil industry for "anticompetitive actions" and outline an energy plan he says would reduce oil imports "and get us on a path to be virtually petroleum-free within a generation."
"Vertically integrated companies like Exxon Mobil own every step of the production process — from extraction to refining to sale at the pump, enabling them to foreclose competition," says an outline of Edward's energy plan.
Edwards' call for a major shift away from oil use would include, according to the document:
• An increase of federal auto fuel economy requirements to 40 miles per gallon from the current 27.5 mpg by 2016.
• Expansion of the use of biofuels such as ethanol, including a requirement for oil companies to make available E-85 fuel (which has 85 percent ethanol) at a quarter of their stations. Edwards wants all new cars to be able to use E-85 by 2010.
• Mandatory restrictions on emissions of carbon dioxide with an aim to cut CO2 and other greenhouse gases by 80 percent by mid-century.
• Creation of a $13 billion energy fund from the sale of greenhouse gas permits and ending some tax breaks for the oil industry. The money would be used to support biofuels and conservation technologies.
(Excerpt) Read more at news.yahoo.com ...
Hope he looks into high haircut prices too.
LOL, Edwards wants probe!!!
Mr. Pink Sapphire wants a new probe.
...
OK, I couldn’t resist my juvenile snark.
There have already been several hearings on the issue. Perhaps he should watch one of those. They are still online and free even.
If he really was concerned about high gas prices, he would support more drilling and more refineries.
Everything else is smoke.
And hedge fund profits & speaker’s fees.
Beat you by a nano second.
"Democratic presidential hopeful John Edwards..."I don't see a damn thing for him to be hopeful about.
Probe how much the gubmint attaches to my price of a gallon.
Not news anymore. it is impossible for Congress to respond to daily market change and RBOB gasoline has dropped ten cents already.
I suggest his probe be rectal.
*Snort*, but funny!
Demand that cars get 300 MPG by 2009.
Demand that all forms of life and machinery emit zero CO2 by the end of the summer.
Demand that solar cells increase in efficiency by 700% before I get off work today.
Demand that weeds stop growing in my garden.
Demand that bullets stop punching holes in things.
I mean, really, if you're going to live in a dream world, why not go all the way?
And I want a probe of Edwards “The Silky Pony” high haircut prices.
More of Edwards’ babbling. Fox showed a picture of his enormous...28,000 sq. foot house the other night. Not quite as big as Buckingham Palace. The man’s nuts.
I wonder if Edwards understands that mandating both a 40mpg fuel economy standard & E85 (which kills your fuel mileage) is a self-defeating strategy.
But hey, it sounds good to the uneducated!
Now I'm no socialist so I guess I'm not too smart but what am I missing here?
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