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I am extremely concerned about the conduct of the oil companies that may have led to these unreasonable price increases.
Three weeks ago I called upon the government to investigate the oil companies for price gouging. That investigation of big oil is now underway, and I would like to see the investigation broadened to look at allegations of price fixing and collusion among the oil companies.
http://www.commondreams.org/news2000/0620-10.htmDemocrats Jump White House on Gas Price Gouging
Senate Democrats are now hammering on George W. Bush to drop his lifelong loyalty to Big Oil by supporting a Senate bill that would work to eliminate gasoline price-gouging. With the family vacation season almost upon us, Senate Minority Leader Harry Reid (D-NV) and 15 Democratic Senators sent a letter to Bush this week asking for his support of S. 1735, a bill that would provide some degree of protection to consumers during any future oil crunches.
"You are undoubtedly aware of projections from the federal Energy Information Administration (EIA) that gas prices will rise 25 cents per gallon across this nation compared to last summer," said Senate Democrats in the letter. "In light of these projections, we believe a federal anti-price gouging law should be enacted before the summer driving season begins in earnest, this Memorial Day."
Memorial Day weekend is seen by many Americans -- already struggling with $3.00-per-gallon gas prices -- as the traditional beginning of the summer driving season.
The Democratic Senators also renewed their call for a bipartisan energy summit to solve the dangerous problem of America’s dependence on foreign oil.
"A strong federal price gouging law is only one element of the equation when it comes to putting our nation on the path toward greater energy independence," continued the Democratic letter. "A comprehensive and smart approach to this vital issue of national security will help curb the tremendous volatility in energy prices that is impacting consumers, businesses and the American economy as a whole. We have thus far been disappointed by your Administrations’ lack of response to our invitation to co-host an emergency bipartisan national energy summit. This offer still stands. However, in the absence of leadership or cooperation from your Administration, we will soon be moving ahead with our own set of real solutions, which will spur the kind of innovation and investment America needs to secure its energy future for the 21st Century." MORE...
http://www.democrats.com/node/8653