line-em-up
04-25-2006, 09:40 AM
Ok. I'm confused. The supposed reason that the gas prices are currently so high is because there is a supposed shortage of the newly refined gas made with ethanol. Something about how it has to be mixed locally, which creates a bottleneck for suppliers. If this is the case, how is suppling more oil going to help? I think he's just trying to look like he is doing something about the prices to help his public polls.
http://www.msnbc.msn.com/id/12469582/
President also orders investigations into whether industry is price gouging
Gasoline prices over $3 a gallon are posted at a Brooklyn, New York, gas station on Monday.
Updated: 10:25 a.m. ET April 25, 2006
WASHINGTON - President Bush has decided to temporarily halt deposits to the nation’s strategic petroleum reserve to make more oil available for consumer needs and relieve pressure on pump prices, a senior administration official said Tuesday
Bush, under pressure to do something about gasoline prices that are expected to stay high throughout the summer, was to announce the decision in a speech. It was part of a flurry of actions designed to demonstrate that the administration was trying to deal with rising prices. The government also asked states on Tuesday to guard against unfair pricing.
The president has also order investigations into whether the price of gasoline has been illegally manipulated.
During the last few days, Bush asked his Energy and Justice departments to open inquiries into possible cheating in the gasoline markets, said White House press secretary Scott McClellan said Monday. Bush planned to announce the action Tuesday during a speech in Washington.
Bush is under pressure to do something about gas prices that have reached nearly $3 a gallon. In a new CNN poll, 69 percent of respondents said gasoline price increases had caused them personal hardship. Other polls suggest that voters favor Democrats over Republicans on the issue, and President Bush gets low marks for handling gas prices.
House Speaker Dennis Hastert, R-Ill., and Senate Majority Leader Bill Frist, R-Tenn., urged Bush in a letter Monday to order a federal investigation into any gasoline price gouging or market speculation.
Senate Democratic leader Harry Reid of Nevada dispatched his own letter, calling for a multi-pronged approach to restrain gas prices. Among the steps were swift enactment of anti-price gouging legislation, an appeal to oil companies to refrain from further price increases; use of more alternative fuels and increased attention to existing fuel-saving laws and regulations.
Bush was working on the speech aboard Air Force One as he flew home Monday evening from a four-day trip to California that ended with a swing through Las Vegas. McClellan outlined part of the speech to reporters traveling on the plane.
Initiatives from attorney general, FTC
McClellan said Bush also will announce that his attorney general and Federal Trade Commission will send a letter to all 50 state attorneys general, who have primary authority over price gouging, to remind them to stay on top of the issue and offer federal help to do so. And he will call on energy companies to reinvest their profits into expanding refining capacity, developing new technologies and researching alternative energy sources.
"I think you'll hear the president say very clearly that he will not tolerate price gouging," McClellan said.
Bush has consistently said that gas prices are high because global demand is rising faster than global supply and that the problem cannot be solved overnight. McClellan said Bush will talk about how experts predict that the price is expected to increase this summer and how the switch to a summer fuel mix is contributing to the problem.
Bush's actions are part of a four-part plan to address gas prices in the short- and long-term, McClellan said. The steps McClellan outlined are: making sure consumers and taxpayers are treated fairly; promoting greater fuel efficiency; boosting gasoline supply at home; and aggressively investing in alternative fuels on a long-term basis.
http://www.msnbc.msn.com/id/12469582/
President also orders investigations into whether industry is price gouging
Gasoline prices over $3 a gallon are posted at a Brooklyn, New York, gas station on Monday.
Updated: 10:25 a.m. ET April 25, 2006
WASHINGTON - President Bush has decided to temporarily halt deposits to the nation’s strategic petroleum reserve to make more oil available for consumer needs and relieve pressure on pump prices, a senior administration official said Tuesday
Bush, under pressure to do something about gasoline prices that are expected to stay high throughout the summer, was to announce the decision in a speech. It was part of a flurry of actions designed to demonstrate that the administration was trying to deal with rising prices. The government also asked states on Tuesday to guard against unfair pricing.
The president has also order investigations into whether the price of gasoline has been illegally manipulated.
During the last few days, Bush asked his Energy and Justice departments to open inquiries into possible cheating in the gasoline markets, said White House press secretary Scott McClellan said Monday. Bush planned to announce the action Tuesday during a speech in Washington.
Bush is under pressure to do something about gas prices that have reached nearly $3 a gallon. In a new CNN poll, 69 percent of respondents said gasoline price increases had caused them personal hardship. Other polls suggest that voters favor Democrats over Republicans on the issue, and President Bush gets low marks for handling gas prices.
House Speaker Dennis Hastert, R-Ill., and Senate Majority Leader Bill Frist, R-Tenn., urged Bush in a letter Monday to order a federal investigation into any gasoline price gouging or market speculation.
Senate Democratic leader Harry Reid of Nevada dispatched his own letter, calling for a multi-pronged approach to restrain gas prices. Among the steps were swift enactment of anti-price gouging legislation, an appeal to oil companies to refrain from further price increases; use of more alternative fuels and increased attention to existing fuel-saving laws and regulations.
Bush was working on the speech aboard Air Force One as he flew home Monday evening from a four-day trip to California that ended with a swing through Las Vegas. McClellan outlined part of the speech to reporters traveling on the plane.
Initiatives from attorney general, FTC
McClellan said Bush also will announce that his attorney general and Federal Trade Commission will send a letter to all 50 state attorneys general, who have primary authority over price gouging, to remind them to stay on top of the issue and offer federal help to do so. And he will call on energy companies to reinvest their profits into expanding refining capacity, developing new technologies and researching alternative energy sources.
"I think you'll hear the president say very clearly that he will not tolerate price gouging," McClellan said.
Bush has consistently said that gas prices are high because global demand is rising faster than global supply and that the problem cannot be solved overnight. McClellan said Bush will talk about how experts predict that the price is expected to increase this summer and how the switch to a summer fuel mix is contributing to the problem.
Bush's actions are part of a four-part plan to address gas prices in the short- and long-term, McClellan said. The steps McClellan outlined are: making sure consumers and taxpayers are treated fairly; promoting greater fuel efficiency; boosting gasoline supply at home; and aggressively investing in alternative fuels on a long-term basis.