Saturday, April 22, 2006
Hastert, Frist Demand Probe Of Gasoline Prices
Who would have thought that starting a war in the Middle East would result in higher oil prices?
Apparently not the leadership of the GOP.
Congressional leaders yesterday planned to ask President Bush to order investigations into possible price gouging by oil companies as crude oil prices hit new highs on world markets and average gasoline prices in the nation's capital blew through the $3-a-gallon mark.
House Speaker J. Dennis Hastert (R-Ill.) and Senate Majority Leader Bill Frist (R-Tenn.) are preparing to send a letter to the president Monday asking him to direct the Federal Trade Commission and Justice Department to investigate alleged price gouging and instruct the Environmental Protection Agency to issue waivers that might make it easier for oil refiners to produce adequate gasoline supplies, Hastert spokesman Ron Bonjean said.
Hastert and Frist's letter comes amid charges by some consumer groups and Democrats that oil companies have manipulated refineries and oil inventories to drive up prices. Hastert also took aim at the rich pay package for Exxon Mobil Corp.'s retired chief executive, which he called "unconscionable."
Hastert and Frist (and the other Republicans) don't want the gasoline price issue to cost them in the midterms.
However, they supported an ill-conceived military adventure in an economically vital region.
The chickens will have to come home to roost sooner or later. The Fall elections sound like just the right time.