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Frist and Hastert: Pressuring Bush to probe gas gouging.

| 2 Comments

For the past few summers, Big Oil has survived repeated gas gouging accusations from lawmakers concerned about price spikes at the pump.

With the summer driving season approaching and prices climbing to all-time highs, House Speaker J. Dennis Hastert (R-Ill.) and Senate Majority Leader Bill Frist (R-Tenn.) are calling for White House and Congressional probes.

My question: Is all that driving really necessary?

Speaker Hastert and Senate Majority Leader Frist Letter Calling for
Administration Investigation of Potential Gas Price Gouging

(Washington, D.C.) -- House Speaker J. Dennis Hastert (R-IL) and Senate
Majority Leader Bill Frist (R-TN) today sent a joint letter to President
George W. Bush urging him to direct the U.S. Attorney General and the
Chairman of the Federal Trade Commission to investigate any potential
gasoline price gouging or energy market speculation that could be
contributing to high gasoline prices.

Here is their letter to the president...


April 24, 2006


The President
The White House
Washington, DC

Dear Mr. President:

In the wake of unprecedented increases in worldwide demand for gasoline, particularly in China and India, coupled with other factors, American consumers are facing record prices for gasoline at the pump. Anyone who is trying to take advantage of this situation while American families are forced into making tough choices over whether to fill up their cars or severely cut back their budgets should be investigated and prosecuted. Therefore, we believe that Federal law enforcement agencies and regulators should take every available step to ensure that all Federal laws protecting American consumers from price-fixing, collusion, gouging and other anti-competitive practices are vigorously enforced.

We respectfully request that you direct the Attorney General and the Chairman of the Federal Trade Commission to investigate any potential collusion, price-fixing or gouging in the sale or distribution of gasoline, petroleum distillates or ethanol in wholesale and retail markets. We further request that scrutiny be directed to refining, the transportation of fuel by pipelines, marine vessels and trucks, storage and marketing activities and retail practices to determine if there is any unlawful manipulation of the price of gasoline. Sweeps of retail distribution centers should be undertaken to ensure that retail price movements are in response to a change in market conditions and not price gouging. Finally, we recommend that the Federal Trade Commission examine whether spot shortages of gasoline are the result of illegal efforts to manipulate prices.

Given the severity of the current situation regarding gas prices, we believe that the Attorney General and the Federal Trade Commission should devote all necessary resources to expedited review of complaints of price gouging against wholesalers or retailers of gasoline and other distillates.

Additionally, we request that you direct the Chairman of the Commodities Futures Trading Commission to bring heightened scrutiny to the trading of energy futures and derivatives to determine whether spikes in prices of oil, gasoline and other petroleum distillates are a result of improper market manipulation by traders or by energy firms.

We believe that protecting American consumers in these unprecedented market conditions is of paramount importance. We know that you share these goals. Consistent with our constitutional authority, we will ask the committees of jurisdiction to conduct oversight of these important questions.

Sincerely,


The Honorable Dennis Hastert The Honorable Bill Frist
Speaker Majority Leader


The following are excerpts from the
letter:

"Anyone who is trying to take advantage of this situation while American
families are forced into making tough choices over whether to fill up their
cars or severely cut back their budgets should be investigated and
prosecuted. Therefore, we believe that Federal law enforcement agencies and
regulators should take every available step to ensure that all Federal laws
protecting American consumers from price-fixing, collusion, gouging and
other anti-competitive practices are vigorously enforced.

"Given the severity of the current situation regarding gas prices, we
believe that the Attorney General and the Federal Trade Commission should
devote all necessary resources to expedited review of complaints of price
gouging against wholesalers or retailers of gasoline and other distillates.

"We believe that protecting American consumers in these unprecedented market
conditions is of paramount importance."


2 Comments

You have to be kidding me!First Hastert and Frist where the ones who pushed the Tax Cuts for the oil companies.Second did everyone forget the so called enegry bill that gave the oil companies more.J Dennis Hastert has taken a lot of money from oil companies,just look at vote smart they show how much!You can tell these two are running for office again.But don't let Hastert change history of his record again he all way trys.

******May 23, 2006

Remember the horrific Exxon Valdez oil spill in 1991, which has destroyed life and environment
to this day? Did you know that Exxon was only fined $150 million, and the court forgave $125
million of that fine as long as Exxon cooperated in cleanup and paying certain private claims?
So Exxon's criminal fine was $25 million, and CLAIMS BY PRIVATE PARTIES ARE STILL BEING
LITIGATED 15 YEARS LATER. And wasn't Exxon's last quarter earnings over 8 thousand million?

I emailed the following letter to 10 TV CABLE hosts, on May 18:

While driving 40 miles along Sunrise Highway in Long Island today, I noticed all the gas stations
were selling regular for $3.19...EXCEPT EXXON MOBIL. They had the audacity to sell it for $3.29.
I had a eureka moment and thought of a plan.
How did the Hispanics and the million man marches get mobilized?
The airwaves which they listen to saturated them with the plan to do so!
And then THE PEOPLE listened, and cared enough to mobilize. I have to say,
I haven't noticed any OTHER band of Americans marching for something!

This is where you come in! Not just YOU, (Joe Scarborough), but ALL OF YOU!!!
Just one of you proposing to ban gas on Sundays does nothing. We buy it on Monday.
You need to ALL focus on ONE big bad giant at a time and be RELENTLESS.
I'm calling on JOE SCARBOROUGH, LOU DOBBS, ANDERSON COOPER, RITA COSBY,
TIM RUSSERT, JOHN KASICH, CHRIS MATTHEWS, HANNITY AND COLMES,
TUCKER CARLSON, BILL O'REILLY,
AND ALL THOSE VOICES across ALL THE NETWORKS, in all the shows, in all the timeslots;
TV and radio airwaves who are fighting for the people! I watch you all and admire you all.
Put aside network competition, politics, rules, egos, and make a universal agenda for two weeks.
Band together as one loud voice for a plan like this:

Let's pick EXXON MOBIL as our first "target". They've earned it with their greed.
IF Exxon thinks they're gonna stick it to us EVEN MORE this summer,
we'll fight like David fought Goliath.
If they gouge us more on Memorial Day Weekend.....
WE ALL BOYCOTT EXXON MOBIL ALL SUMMER LONG.
Nobody buys a drop of gas from EXXON MOBIL from June 1 through Labor Day.
We'll still get gas elsewhere, but the point is: WE MOBILize and GIVE EXXON MOBIL some
PAIN AT THE PUMP when NOBODY SHOWS UP THERE JUNE--JULY--AUGUST--SEPT....
Do you think that will bring them down a peg? We don't let up on that One greedy giant.
...And then we'll fight another giant next. Another time. Same way.

Do you think my plan is too simple minded? Are there conflicts of interest between competing
networks? Do any networks answer to Big Oil? Is it too unrealistic? Illegal? Illogical? WHAT?
Sometimes you need a revolution...like in the movie, "NETWORK" to get something done!
And a good revolution needs a strong leader. In this case, all of your voices banned together.
It can be done, if you guys really do care about the people, and not just your own fame and ratings.

We can't rely on government to help us. They are the root of the problem, anyway.
(you have to take the money out of the politics, and have term limits so the influence buying
doesn't manifest, but that's ANOTHER FIGHT...DON'T GET ME STARTED ON THAT...)

We really only have ourselves to look out for ourselves, and you media personalities must lead it.
GET TOGETHER! Send memos: One universal voice. One agenda. Now. Unprecedented? You bet.
It's how wonderful history is made...and you guys would be at the helm!
Let's go for it! Start the ball rolling NOW! Just 2 weeks to get the word out for June 1!
What better time to pull this coup! Hurry!
.....Here is my horoscope for today:
LIBRA for May 18, 2006:
The universe wants to give you a hand no matter how crazy your dream is.
In fact, the crazier the dream, the better. It's time for big, bold and innovative thinking.
Don't be afraid to reach for the stars.

I didn't read it til after my Eureka drive along Sunrise Highway. It's all I needed to start typing to you...
Thanks, Trina

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Lynn Sweet

Lynn Sweet is a columnist and the Washington Bureau Chief for the Chicago Sun-Times.

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This page contains a single entry by Lynn Sweet published on April 24, 2006 9:43 PM.

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