WASHINGTON - President Bush, under pressure to do something about gasoline prices that are expected to stay high through the summer, has ordered
an investigation into possible cheating in the markets.
During the last few days, Bush asked his Energy and Justice departments to open inquiries into whether the price of gasoline has been illegally
manipulated, said White House press secretary Scott McClellan. Bush planned to announce the action Tuesday during a speech in Washington.
It's unclear what impact, if any, Bush's investigation would have on prices that are near $3 a gallon. Asked if Bush had any reason to suspect market
manipulation, McClellan responded, "Well, gas prices are high right now, and that's why you want to make sure there's not."
Republicans who control Congress have become concerned that the high cost of filling up could become a problem for them in the November elections.
Polls suggest that voters favor Democrats over Republicans on the issue, and Bush gets low marks for handling gasoline 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.
"There is no silver bullet," Frist said Tuesday on ABC's "Good Morning America," but "we need to make sure that any efforts at price-gouging be
addressed and addressed aggressively." Meanwhile, Frist said, consumers should take steps to conserve gasoline ? drive at slower speeds, tune up car
engines for maximum efficiency and carpool.
McClellan said Bush had already ordered investigations into market pricing.
"We share a commitment with congressional leaders to make sure that we're acting to ensure that there is no price gouging," McClellan said.
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 also planned to 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 planned to call on energy
companies to reinvest their profits into expanding refining capacity, developing new technologies and researching alternative energy sources,
McClellan said.
"I think you'll hear the president say very clearly that he will not tolerate price gouging," McClellan said.
Bush has said consistently 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 planned to talk about how experts predict the price will 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 are:
_Making sure consumers and taxpayers are treated fairly.
_Promoting greater fuel efficiency.
_Boosting gasoline supply at home.
_Aggressive long-term investment in alternative fuels.
___clevohardcore - 4-25-2006 at 08:27 AM
The REPUBLICAN officials gave the OIL companies billions in subsidies over the next 10 years to try and keep gas prices down. It was passed last year
AND THEY STILL ARE GOING UP!!!!!!!!!!!!!!.XHonusWagnerX - 4-25-2006 at 09:06 AM
Bush is a piece of shit! Hes a fucking oil man and is probably making millions off the gas prices being as high as they are.
We should carpool? We should conserve? We should get our cars tuned up?
What about what the Government could do? They may as well be burning money on a daily basis!!
God Damn that shit pisses me off SO fucking much!!!JUICE MAYNE MSHC - 4-25-2006 at 09:50 AM
shit like this make me want to kill myself. It's almost impossible to get ahead today with shit like this going on. I'm gonna start selling coke.XHonusWagnerX - 4-25-2006 at 10:15 AM
It really IS imposible to get ahead unless you start off with money. The guy doing my tattoo was asking me for money advice. I think he has the wrong
idea because he doesnt know that much about me, but hes seen my car and thinks I make more/have more than I do. I understand him thinking that, but
its not really true.
Anyway... he's trying to get ahead and wants to redo some of the shop, but hes got a son and lives in an apartment and wants to buy a house and there
is just NO way to get ahead!
I think things are going to get to a point where if the gas keeps going up people with really low paying jobs will have to make a descision if it will
cost them more money in gas to GET to work then they will make working for the day. I make pretty good money and I'm already at the point where I have
to put in 3-4 extra hours a week to cover the gas its costing me on a weekly basis and I try NOT to drive to much beyond what I NEED to do! Why the
fuck is life so fucking hard!?
Is there anything we can do about this? I mean protests mean shit. Boycotts mean shit. So what can we do!?BDx13 - 4-25-2006 at 10:52 AM
Quote:
Originally posted by clevohardcore
BUSH ORDERS INVESTIGATION IN TO GAS ISSUE
...To see if there's anyway he could be making even more money.clevohardcore - 4-25-2006 at 11:27 AM
Quote:
Originally posted by BD
Quote:
Originally posted by clevohardcore
BUSH ORDERS INVESTIGATION IN TO GAS ISSUE
...To see if there's anyway he could be making even more money.
I jsut watched his speach today. You hit the nail ont he head. He wants tax dollars to fund experiments fro gas comapnies to find new ways to create
gas. ETHANOL, Corn, Soy, and BIODIESEL, O and Hydrogen.
See the key is the already rich companies need subsidies to create another market of fuel to charge more money for. VERY FUCKING
CLEVER!!!!!!!!!!!!!!!!upyerbum - 4-25-2006 at 11:42 AM
We're never gonna' catch the criminals as long as they're runnin' the show.
-Angry Anderson
