4/25/2006

Pain at the Pump – Who’s Gouging Who?


The Bush administration has consistently looked the other way on price gouging.

While Americans suffer rising prices, oil companies are enjoying their biggest profits ever.

In the absence of leadership from the federal government, states are taking the lead on price gouging.

Feeling the heat from Americans and members of his own party in Congress, President Bush today is speaking out against price gouging. He is expected to ask state governments to investigate whether the price at the pump is being illegally manipulated. While Bush’s engagement in the gas crisis is a step forward, he has for too long sat idly by as Americans have suffered under the strain of increasing gas prices. When Bush came into office in January 2001, the average price of a regular gallon of gas was $1.46. Today, the price is $2.91, a 100 percent increase over the course of the Bush presidency. It remains to be seen if Bush is serious about taking action on this issue, or if this is merely a political overture.

Read more: American Progress: Talking Points

2 comments:

J. Paul Getty said...

I just wonder why the OTBL tax whiners
never seem to be bothered by the huge tax breaks and subsidies congress gave the oil industry but when teachers get a decent health care package they go bonkers about creeping Socialism.
Fricken HYPOCRITES!!!!!!!!!!!

Diamond Jim said...

Because that is just part of the wealth creation formula. The formula has nothing to do with fairness, inequities, economic realites, birth rights, etc. It's all about how much can I stuff into my sack and how fast can I stuff it in.

Of course, since the OTBL'ers spend excessive amount of time complaining about the nickels and dimes on the right side of the decimel point, it's obvious that they are stuck in the middle with us.