Friday, August 19, 2005

Democrats turn up heat on US pump prices

Politics: This is interesting, what proposals are the Democrats going to talk about? More domestic oil drilling like in ANWR? Cutting gas taxes?

Meanwhile, Democrats urged the White House to act. Senate Minority Leader Harry Reid on Friday said the Bush administration should require U.S. oil companies to disclose their fuel pricing policies and production costs. In a letter to the White House, Reid also said the Federal Trade Commission should investigate instances where a state's retail prices rise 20 percent in any given week "to determine if the price of gasoline is being artificially manipulated." Past FTC probes into U.S. oil company pricing policies have found no sign of abuse. "This one has already being done," White House spokesman Trent Duffy said. "The FTC and the Justice Department have been keenly watching for this type of activity for the past two years."
Ah the big oil company conspiracy, what else you got?
"Separately, Democratic Sen. Bill Nelson of Florida said the White House should ask oil companies for a voluntary, temporarily freeze on prices that they charge gasoline distributors."
Price controls...wonderful. I'm sure this works well in other places like India and China. Oh, it doesn't?

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