W investigating gas prices/...

[reelapeelin]

TV just said W to investigate price gouging and collusion by oil cos...whadda HOOT!!..."Now who's been eating these chickens?" said the FOX as he flipped a feather from his lips... ::)...

[Pipe_Dream]

Does anyone know how many times Big Oil has been investigated for price gouging -- and the Feds have never found evidence against them? It's all a show.

From an AP report (my responses in parenthesis):
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. (Ahem, isn't market speculation, or commodities trading, the driving factor behind today's record prices?)

Bush's actions are part of a four-part plan to address gas prices in the short- and long-term. The steps . . . outlined are:

1. making sure consumers and taxpayers are treated fairly; (define "fairly")
2. promoting greater fuel efficiency; (good idea)
3. boosting gasoline supply at home; (another good idea)
4. aggressive long-term investment in alternative fuels. (Only investment by private industry will produce results, and this again is market driven. When gas prices are high enough to drive real market interest in alternative fuels, then and only then will we see results.)

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 (um, don't we already have that?), an appeal to oil companies to refrain from further price increases (Please, oh pleeeeez Mister Big Oil don't raise your prices any more); use of more alternative fuels and increased attention to existing fuel-saving laws and regulations (again with alternative fuels -- see above).

-- end of AP.

Get used to it folks, gas prices aren't coming down anytime soon.

Yes, yes I'm coming down off my soap box now.

[macojoe]

Notice Bush says it with a smile >:(

What is he going to shut down every station in the country??

Its not the stations (well most) its the oil Co. setting the prices. They cerate surplus or shortage of the liquid Gold.

This is were they have to come up with rules. They said they are going to tax the gas Co. after they make a certin amount of profit??
What will this do for us?? It will just give more to the gov and less to us.
The oil Co. will suck up the tax like nothing with the billions they are making!

they said the oil Co. will be saying what there first quater earnings in a coupkle of days, Can't wait to see that!

[bigshrimpin]

Doesn't take Magnum PI to figure out who's behind the increase in fuel prices. When is the media gonna bring up this crap . . .

1. SUV tax write off
http://www.selfemployedweb.com/suv-tax-deduction.htm
Economic Stimulus Act 2001 ($50,ooo vehicle write off in a single year)
Job Growth Act 2003 ($106,000 vehicle write off in a single year)

2. "Stategic reserve" (huge demand to fill up stegic reserve) . . . government must buy fuel on open market to fill reserves => which jacks up prices. Investors know this pressure exists.

3. Miliary Demand (same as #2). Government must buy fuel on open market to supply military with fuel.

4. Measley 150million investment for alternative fuel research (mostly slated for hydrogen fuel cells (which is BS).

[labii]

There is no doubt that the worlds oil want last for ever . But if we were any where close to running out don't you think a well run company like Exxon would be investing in alternative fuels ? They have to have something to sell when the oil is all gone , don't they ? We did not get into this situation over night and I think it's going to take even longer to get out . I do think Bush is right in that were are addicted to oil .

How would you mount a fuel cell onto a V20 ?

[reelapeelin]

And this business about a wind-fall-profit tax on the oil cos is the icing on the cake...channels MEGA-DOLLARS right outta OUR pockets and into the govt >:(...

[Pipe_Dream]

I just heard on the radio that Bush has suspended purchases for the SPR (Strategic Petroleum Reserve) in order to increase supply. I doubt it will make much of a difference.

No, we're not even close to running out of oil. BUT, at some point oil companies will have to use more expensive methods to "mine" oil trapped in shales and sandstones. When it is economically profitable (when the price is high enough to make it profitable), oil companies will use these more expensive methods. There is plenty of oil, but eventually it may become cost prohibitive to get it out of the ground -- when, for instance, there is a cheaper, alternative fuel for consumption. Obviously, we're nowhere close to that point now.

The windfall profit tax is just that -- a tax. Passed on (as ALL taxes paid by corporations are) to the consumer, it's ultimately a tax on our fuel purchases. Like we don't already pay enough taxes, federal and state, on fuel purchases. ::)

[bigshrimpin]

Originally Posted by labii

I do think Bush is right in that were are addicted to oil .

That was such a slap in the face comment from GW. . . He's only provided incentives to increase our dependence on oil. Listening to him speak . . . I feel like I'm living in backward/opposite land. The spin is unbeleivable.

Oil companies are pushing for hydrogen fuel cells. I think the general concenus is that fuel cells aren't gonna work for autos, but that's where the funding is, so if you are in research and want to survive . . . it's fuel cells or starvation.

[captbent]

THAY ALL SUCK >:(

[TheTinMan]

......and more than 2 years to go with this whacko administration. :'( :'( :'( >:(