21 May 2007 - 13:22
  • News Code: 105179

With today"s high gas prices, we should remember some history in regard to energy issues and ask why gasoline is so expensive today and why prices may even go higher.

First, we may recall that we heard of a new national energy policy that started with Vice President Dick Cheney and his task force. Later, the Government Accountability Office ( the investigative arm of Congress) had questions about the group"s activities.


Then we read about a GOP-written energy bill and about H.R. 6 (the omnibus energy bill) and Senate bills 2095 and 1637.


With all that federal effort, why hasn"t the price of gasoline come down for U.S consumers? Don"t consumers (and members of Congress) also now wonder why, with all the federal assistance provided to the oil corporations, and with Big Oil"s record profits, the industry hasn"t at least built a few more refineries to turn crude into gasoline to help provide more supply and thereby help to lower or lessen the price of gasoline? It has been suggested that part of the problem with high prices is that some refineries are old and that we need additional ones.


The question now should be: Is Congress, as part of our system of checks and balances, calling for formal congressional fact-finding investigations in regard to today"s gas prices and about such things as the ongoing record oil profits being reported and huge wages and benefits of the Big Oil executives?




News Code 105179

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