Bush: 4-Point plan To Slash Gas Prices

[Lux]

Bush Announces Gas Price Investigation Ahead of Speech

WASHINGTON — With gas prices rising unabashedly, President Bush on Tuesday offered suggestions for reducing oil costs, including increasing refinery capacity and conservation to diversifying away from oil through the use of alternative fuels like ethanol.

Under pressure from lawmakers and the public who have alleged price gouging by oil companies, the president also said he has ordered a probe of price manipulation and market speculation. On Tuesday, he also ordered a temporary halt of deliveries to the Strategic Petroleum Reserve...

http://www.foxnews.com/story/0,2933,192968,00.html

[Panther]

Lets see, at $3.00 per gallon, the oil companies make about +/- 2.5% or 7 to 8 cents per gal. In my state, fed and local taxes add up to about 50 cents per gallon. Sounds like the government needs investigating, not big oil. Think that will ever happen?

In addition to the huge taxes placed on every gallon of fuel, laws from all levels of government now require different blends of fuel for almost every county in the nation. No wonder its such a mess, think about running a business where the product for each county has to be made a little different. What a nightmare inventory problem.

Thank you Algore

[tattatu]

It seems too ridiculous that the person most responsible for higher oil prices is now backing an investigation into oil company profits. In the meantime lets light off a bunker-busting nuke in the Nevada desert and show those Iranians, Americans mean business. If he's not in favor of a windfall tax, what is his point? If the concern is gas consumption (21 million barrels per day) why hasn't this government taken measures until now to protect the public. My hunch is Bush will favor a tax at the pump, that's how most developed countries lower consumption and this government needs the revenue -- it'll be state taxes vs federal taxes. But he'll probably have to wait for his popularity to go up at the polls.

[buck74]

It is both funny, and sad to see politicians from both parties frantic to do something about these prices in this election year. What a joke. They just gave billions away to the oil companies last year in an energy bill that was all about pork, and little to do with long term energy problems, and dependancy on foriegn oil. The energy bill, and the highway bill last year were the two biggest pork barrel bills in the history of this country. Both passed by GOP house, senate, and prsident which use to stand for conservative spending. Go figure.

[SEABEE CAN-DO]

Lets see, at $3.00 per gallon, the oil companies make about +/- 2.5% or 7 to 8 cents per gal. In my state, fed and local taxes add up to about 50 cents per gallon. Sounds like the government needs investigating, not big oil. Think that will ever happen?

In addition to the huge taxes placed on every gallon of fuel, laws from all levels of government now require different blends of fuel for almost every county in the nation. No wonder its such a mess, think about running a business where the product for each county has to be made a little different. What a nightmare inventory problem.

Thank you Algore the figure you said would be for the station owners not the oil companies. the people who make gas are making much more. my buddy owns a mobile gas station He makes more money on a 30 oz Pop then he does on a fill up. same for all stations. most gas comes from the same MFG. they just add things to it before it is delivered. I know this because i been there at the facility and you see many trucks with brand names on them filling the fuel trucks at the same pump.
at least they do here in so Ca.

[Texas_dinar]

blah blah blah..i think bush never had an exit strategy for the increase of oil. Hold on tight gals and girls. Rumor has it that gas prices to hike up to $6.00 a gallon. Anybody selling a hibrid?

[Lux]

The Global Warming discussion has been split to a better title:

http://www.investorsiraq.com/current-events/17812-fossil-fuels-global-warming.html