Washington Reacts To Highest Gas Prices In History

like they will fine any company, the whole gov is made of big oil interests anyway.

— vcowman (View Profile)

Posted on 5/26/2007 8:55:58 PM | reply to this comment | Votes: 1   

Nah, the President doesn't have anything to do with gas prices and in fact when Carter was President we were paying more per gallon based on standards of living in 1978, but I don't blame him for it.

Now lets talk about England; they pay way more for gas than we do because of all the taxes on gas.

— EL34 (View Profile)

Posted on 5/27/2007 3:22:42 PM | reply to this comment | Votes: 2   

I dont think the town wants the village idiot back. Might cause oil problems again.

This will hurt the US economy even further with high gas prices. People will turn over to more hybrids than trucks or high performance car.

— Alec (View Profile)

Posted on 5/26/2007 11:12:55 PM | reply to this comment | Votes: 3   

I doubt it will pass the Senate, and what president (GOP or Dem) will actually charge an oil company? Remember ppl were complaining about gas prices when Bubba Clinton was in office too.

They're right about it affecting supplies. Big oil can come up with all sorts of reasons to do "routine" maintenance to refineries inorder to find a reason to jack up prices.

The best way is for autocompanies and gov't to develop hydrogen and plug-in electric cars (and associated infrastructure). With hydrogen being closer to being mainstream, even gas-hybrids days are numbered (atleast the technology is transferrable). I give it 10 years.

— huu76 (View Profile)

Posted on 5/26/2007 11:36:30 PM | reply to this comment | Votes: 1   

What defines price gouging?

This would only work if all the gas stations in a particular (let's add rural with any other gas stations far away) town jacked up their price to 6 dollars a gallon. That would be price gouging.

— chewy (View Profile)

Posted on 5/27/2007 12:44:59 AM | reply to this comment | Votes: 1   

Like it really going to hurt the oil tycoon who profit $10 billions a year. $3 million is not even going to make a dent in their pocket.

— Lexus (View Profile)

Posted on 5/27/2007 1:15:21 AM | reply to this comment | Votes: -1   

I seem to remember when this Texas "oil man" (who owned two failed oil companies, both bailed out by Daddy's friends) ran for president, he said that he knew how to lower prices--after they'd topped $2/gallon for a month or two earlier that year. Because of credit card regulations, yesterday I couldn't fill up with the price of gas ($3.719 for premium) the pump cut off at $50.

I seem to remember that same man telling us that gas would be cheaper after invading Iraq. He's also told us the same is true if he could exploit reserves in ANWR. If he did that, it seems we might be paying $6/gallon, as reality has been the opposite of every claim of his so far.

Adjusted for inflation, gas prices have just passed the previous high in 1981. What's more interesting is that both of these spikes in gas prices have happened within a few years of passing huge corporate tax cuts (Carter's elimination of the oil windfall profits tax and Bush's multi-billion gas company giveaway). Will anyone believe me now that lower taxes don't necessarily lead to more money in your pocket or a healthier economy?

— mp2dtw (View Profile)

Posted on 5/27/2007 3:59:48 AM | reply to this comment | Votes: 0   

Yes it's about time (again) for Washington to make some noise on this issue They did it twice already at different times when prices became crazy and it brought it down for awhile until they discoverd that the hurricane season was another avenue for profits.

— toolatetorace (View Profile)

Posted on 5/27/2007 10:55:47 AM | reply to this comment | Votes: 1   

A couple of years ago in Canada, our federal gov't gave us a tax cut. Our provincial gov't then jumped in and charged us a health premium which coincidentally went into general revenue, rather that directly to the healthcare budget. Both gov't levels were Liberal. It's not just oil friendly leaders that find a way to screw the everyday Joe.

Anyway, lets hope the days when home fueling stations, power companies and big oil are all vying for our money because hydrogen production and electricity for cars is so common place the oligopoly finally turns into a freemarket.

— huu76 (View Profile)

Posted on 5/27/2007 11:08:31 AM | reply to this comment | Votes: -4   

you US people should try to pay what the Europeans are paying, then you would buy smal economic cars. here in Denmark we pay around 2$ pr liter.

— MPowerDK (View Profile)

Posted on 5/27/2007 4:46:20 PM | reply to this comment | Votes: 0   

"Our country wasn't set up 500 years ago to be compact."

erm...I honestly can't think of an appropariate way to respond to that...

— cdoke (View Profile)

Posted on 5/27/2007 10:44:39 PM | reply to this comment | Votes: 0   

MPowerDK,
Most of your cost is taxation. It's not like you guys have very far to go anyway.

— huu76 (View Profile)

Posted on 5/27/2007 10:56:38 PM | reply to this comment | Votes: 0