Is this business or politics?
Here is the title of an April 25, 2006 posting by Fox News.
Bush Announces Gas Price Investigation
WASHINGTON — With gas prices on the rise, President Bush on Tuesday offered suggestions for reducing oil costs, including increasing refinery capacity and conservation, to diversify 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.
Read the rest of this article here.
Today President Obama called for an investigation of price gouging.
Obama orders investigation of gas prices
LOS ANGELES (KABC) — President Barack Obama has ordered the Justice Department to investigate potential price gouging at the pump.
Attorney General Eric Holder will appoint a task force to examine both gasoline sales and potential manipulation in oil markets.
Read the rest here.
It’s politics! The president does not have the power to control gasoline prices. Check the price in other free market nations and you will find the cost of gasoline is more there than in the United States.
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You can expect gas prices to rise every spring. It seems to get earlier and earlier each year. That’s because oil futures traders know demand for gas rises in the summer. They therefore start buying oil futures contracts in the spring in anticipation of that price rise.-
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