Bush Wants Antitrust Crackdown on Gasoline Prices
Reuters reports that Bush takes aim at gasoline prices in a speech, in which he joined the ranks of politicians speaking out against soaring gas prices. He encouraged oil companies to invest in refineries and take other measures to increase output. He also temporarily halted shipments to the Strategic Petroleum Reserves. And antitrust enforcement is to play its part:
Before the speech, the White House released a letter in which the federal government urged state attorneys general to vigorously enforce laws against price gouging that may have contributed to rising gasoline prices.
It seems to me that high oil prices are becoming an easy issue on which politicians can express populist sentiments, even though they must know that they can do little or nothing control oil prices (at least not without doing more harm than good).
RSS Feed
