United Kingdom
United States
Asia Pacific
US probing higher gas prices
US President Bush’s call for price-fixing investigations and other measures aimed at holding down the cost of fast-rising fuel costs were generally derided by critics.
“The first thing to do is to make sure Americans are treated fairly at the gas pump,” he said, calling for a probe by the Justice and Energy Departments, as well as the Federal Trade Commission, into alleged price-fixing by retailers and distributors.
He also proposed postponing the summer’s restocking of 12 million barrels of oil to the Strategic Petroleum Reserve and asked for another $2 billion in exploration tax breaks for the oil companies.
Democrats and the environmental lobby quickly blasted his plans as cosmetic rather than a real fix.
“To listen to the president, you’d think that it’s the local gas stations that’s the problem,” said Sen. Chuck Schumer of New York. He urged consideration of a breakup of the big oil companies.
Industry experts said Bush’s efforts at best are likely to shave only a few cents per gallon off the cost of gasoline.
The president rejected one change that some experts said would reduce oil consumption, tougher federally mandated fuel-economy standards for cars and trucks, said the Washington Post.
“The American people have got to understand what happens elsewhere in the world affects the price of gasoline you pay here,” the president said.
With an approval rating of a new low, 33%, the New York Daily Post said Bush was telling Americans there was nothing that could be done about higher gas prices.
Report by David Wilkening
Related News Stories:
David
Kittipong Prapattong’s Plan for Thailand’s Tourism Growth: Taxes, Visas, and Campaigns
James Jin: Didatravel’s Journey from China to Global Reach and the Impact of AI on Travel
Darien Schaefer on Pensacola’s Evolution: From Small Town to Global Destination
Florida Tourism’s Next Frontier: Dana Young on Expanding Beyond the Classics
Patrick Harrison on Tampa Bay Tourism’s Resilience and Marketing Strategy
Bubba O’Keefe on Clarksdale’s Vibrant Music Scene
Commemorating Elvis and Embracing Tupelo’s Culture with Jennie Bradford Curlee
Craig Ray and the Expansion of the Blues Trail
Presenting Mississippi’s Cultural Trails with Katie Coats
Robert Terrell: A Journey Through BB King’s Influence
Rochelle Hicks: Celebrating Mississippi’s Musical Legacy
Exploring Jacksonville with Katie Mitura: The Flip Side of Florida
Dozens fall ill in P&O Cruises ship outbreak
Turkish Airlines flight in emergency landing after pilot dies
Boy falls to death on cruise ship
Unexpected wave rocks cruise ship
Storm Lilian travel chaos as bank holiday flights cancelled