Gas Prices

Friday, October 28, 2005

Senator Frist Orders Probe Into High Gas Prices

Republican Bill Frist is breaking ranks with the White House.

Amid record-high earnings from oil companies, Senate Majority Leader Bill Frist on Thursday ordered a Senate hearing with testimony from major oil company executives on why energy prices are high.

The unexpected announcement by the chamber's top Republican showed the growing political pressure as American consumers brace for higher winter heating costs at the same time energy companies are reporting fat profits.

"If there are those who abuse the free enterprise system to advantage themselves and their businesses at the expense of all Americans, they ought to be exposed, and they ought to be ashamed," Frist said in a statement.

The Senate leader also asked the chamber's permanent subcommittee on investigations to launch an inquiry into energy price profiteering. "And ultimately, if the facts warrant it, I will support a federal anti-price gouging law," he said. [...]

Frist said he asked the Senate Energy Committee and the Senate Commerce Committee to hold a joint hearing to look at the reasons behind energy prices. He did not say if a date has yet been set.

"I have asked them to call as witnesses executives from the major oil companies and representatives of the state attorneys general, who have the initial responsibility of keeping the behavior of local energy providers on the straight and narrow," Frist said. [...]

On Thursday, Exxon Mobil reported third-quarter earnings of $9.9 billion -- one of the largest quarterly profits in U.S. corporate history.

"We need to increase refinement capacity, provide more energy resources, encourage conservation, invest in science and technology, and, most importantly, transition toward energy independence, including the use of more alternative fuels," Frist said.

3 Comments:

  • hey football dude,

    check this site out, we made it to give people ways to save on gas prices and heating costs.

    http://www.saveagallon.com

    let me know what you think

    By Blogger "the Bear", at 7:15 PM  

  • Many say we will see $3.50/gal this summer. If you factor in Iran, who knows how high it could go. Everyone knows America MUST get off the oil. After September 11, 2001 I expected our President to call on Americans to GET OFF THE OIL. I was expecting a speech like the one JFK gave that motivated us to reach for the moon. As you know, this never happened. Eventually I realized that the only way this is going to happen is for us to do it ourselves. To that end I created this idea and have been trying to make it a reality..

    The EPA is offering a research grant opportunity that I believe is a perfect fit for this idea. I have sent an e-mail to a hand picked list of university professors who have experience with government research projects. I’m looking to form a research team to apply for the EPA grant, conduct a social-economic experiment and surveys to determine to what extent the American public will support it, project the economic potential of WPH, and identify logistical, social and political obstacles as well as opportunities.

    All government grants are awarded based on merit of the proposed research. I believe WPH has merit but your help is needed to verify it. You can help by posting your feedback. Let the professors and the EPA know what you think about WPH. Do you think this idea is worth pursuing? We need to know if Americans will support a plan like this.

    Do you have any ideas to improve the plan?

    Share any and all of your thoughts.

    Tell your friends and family about this Blog post and ask them to post their thoughts on WPH

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    Thank you

    Craig

    By Blogger Craig, at 10:37 AM  

  • If you really want to get something done about this gas price deal, take a look at the site I found, www.OneAmericanVoice.org

    By Blogger Doug, at 8:40 PM  

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