Last night a Daily Show guest said the high gas prices was the fault of

[FloridaPat]

congress. Something about congress passed a law that a certain additive had to be put in gas and that additive was in short supply. Anyone know anything about this? Can we blame congress?

[KeepItReal]

1. As Elliot Spitzer said, gas company profits higher than increased expenses

He said these gas companies may have higher costs of doing business, but that should be reflected in a corresponding increase in price at the pump.

However these companies are passing along huge price increases at the pump that have *nothing* to do with their increased costs of production.

I'd believe Attorney General Spitzer over some big oil apologist any day.

[fishnfla]

2. Actually high gas prices are the fault of the SCOTUS

Bush v. Gore, 2000

If congress can put the additive of common sense into our foreign policy and improve the situation in Nigeria, our relations with Venezuala, or Iran/Iraq.....achh, forget it, fat chance

[Stinky The Clown]

13. I don't know if you meant that as a throwawy line or not, but it is

one hell of a great frame ...... it points it all up in a way I suspect even Joe and Jane Sixpack can understand. 'High gas prices are the faul of SCOTUS' indeed.

[unblock]

3. cancer-causing mtbe is being replaced with ethanol

and the delivery infrastructure for ethanol is not yet what it should be.

that's my (limited) understanding, anyway.

congress might be responsible for a portion of the price increases, but no way is it the lion's share, not with booming chinese and indian demand, problems in nigeria, and shrub warring in iraq and now threatening iran!

[Epiphany4z]

10. That doesn't explain

The record profits. It may explain a portion of the increased gas prices but I just don't see how increased cost of oil and whatever is going on with ethanol explains the record profits that just keep breaking new records.

[unblock]

14. the record profits are easy to understand

gas prices generally track the price of oil.

the price of oil is skyrocketing due to international factors such as china, india, nigeria, iraq, and iran.

but domestic producers get their own oil. it doesn't cost any more to drill and pump oil in the u.s., it's just worth more to sell it. hence extra profit.

[acmejack]

4. They can no longer put MTBE in gasoline

It is deadly, they must purge their tanks completely of it to effect the chageover. They are switching over to ethanol in it's place.

edit here's a link: http://www.smartmoney.com/bn/ON/index.cfm?story=ON-20060418-000948-1911

[LosinIt]

5. two words: record profits

n/t

[ClintonTyree]

6. But now, with Bush's "relaxed" standards for refinement....

won't that mean an even BIGGER windfall to BIG OIL? They won't have to spend the extra money on all of those environmentally friendly additives. Of COURSE they'll pass the savings on to the consumer. right? :eyes: Yeah.........

[notadmblnd]

7. and as Jon pointed out.... it sounds like BS

if that were the case the why are there still record prices? He never got an answer to that question from her. she was some Wall Street person (journalis?) I don;t think she knew shit from shineola.

[Ganja Ninja]

8. It's all about the oil industry fighting progress.

They don't want ethanol because it's a substitute for the product they sell. So they drag their feet and try to blame ethanol requirements. They have no interest in what's good for the country only what's good for their bottom line.
Perhaps what we should have done is put a tax on ethanol free gas. Give them a choice. Sell a blend of gas & ethanol at affordable prices or sell straight gasoline at prices so high their competitors will undercut them.

[iamahaingttta]

9. It's time to nationalize the oil industry!

But then, nobody cares what I think...

[Raster]

12. I care what you think and I wholeheartedly agree! NATIONALIZE NOW!

The petroleum industry/infrastructure is intrinsic and vital to our national interests, and should not be left in the hands of "for-profit" corporations. I don't care how much they paid for this pResdident and Congress. Nationalize Now!

[underpants]

11. She also mentinoed state legislatures. WSJ spewing RW talking points

nothing new really. Their Op-Ed page has been a fixture a fundamental part of the conservative movement. I missed her name-generally the actual news reporting of the WSJ is very good.

She also said that supply is down which is clearly not true. Stewart actually had her busted and let her off.

[OzarkDem]

15. IMHO its a red herring

and an opportunity for the GOP to use the high gas prices to gut envirnomental regulations.

They've tried this same arguments many times over the last several years when prices rise.

[zbdent]

16. Gold . . .