Wednesday, April 26, 2006

Bush plan will do little to ease pain at the pump - Automotive -

This is what happens when you allow Oil-men to set energy policy and vote for failed CEOs for president.

We may be feeling pain at the pump from now on, and so will the Rethugs in countless Novembers to come.

Bush plan will do little to ease pain at the pump - Automotive -

"With pump prices still rising, spot outages of gasoline cropping up in some East Coast markets, and proposed solutions gaining momentum in Congress, President Bush's plan to ease gasoline prices is aimed at calming growing consumer anger at the rising cost of filling up.

But the measures announced Tuesday aren't likely to alter the forces that are pushing up the cost of crude oil, straining the supplies of gasoline to U.S. motorists and sending pump prices higher each week.

For starters, there is little the White House or Congress can do to control the price of crude. At recent highs of $75 a barrel, the cost of crude oil has jumped by a third since November as demand for oil continues to grow faster than global production capacity. Nervous oil buyers are paying these high prices because they're worried about possible supply bottlenecks from multiple hot spots like Iraq, Nigeria and Iran. "

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