Most people are under the impression that this constant rise in prices is because of the situation in Iraq and the Middle East. To an extent it is, but that is not the biggest reason. The price of crude oil is down $7.00/bbl from last year at this time.
The biggest reason is because the oil industry has not built a new refinery since 1976! There also has been two major refinery accidents in the recent past. Even Bill O'Reilly: Oil companies must ante up for new refineries has brought up the problem and wants Congress to get on the stick and get the oil companies to make a real move other than to up their profits. Here's a chance for everyone to help.
From MoveOn.org:
As of yesterday, gas prices are the highest in U.S. history—we just passed the 1981 record, even adjusted for inflation. Prices could reach $4.00 per gallon in parts of the country, just in time to crimp summer vacation plans. As consumers suffer, the oil industry continues to reap the windfall—breaking profit records on an almost quarterly basis. It's outrageous!
Enough is enough. Hearings start today on H.R. 1252, a House bill that would make gas price gouging a federal crime, punishable by 10 years in prison. Speaker Pelosi has said she'll move the bill to a vote this week—if there's the two-thirds majority required to fast track the bill through the process.
Oil company lobbyists are frantically trying to stop the bill. Your representative needs to hear from you today. Will you sign our petition asking Congress to pass the price-gouging bill—and then send it to your friends?
"Gasoline price gouging should be made a federal crime before the summer price increases hurt more American families."
Sign the petition MoveOn.org has started today:
Stop Price Gouging
Rep Bart Stupak (D-MI), sponsor of the House bill said this of his motivation to introduce the legislation:
"In April ... crude oil was $7 a barrel cheaper than last year (but) gas prices were almost 50 cents a gallon higher. Clearly there's more at play than simply the world crude oil market."
In April, more than two-thirds of Americans reported that their gas bills were causing financial crunches, with a full third saying it was having a "serious" impact on their families.
That same month, the top two US companies, Exxon-Mobil and Chevron-Texaco, announced a combined $14 billion in first quarter profits.
It seems like even the oil industry has gone too far this time, and it's time to balance the scales. The Senate passed a price-gouging measure out of committee last week, and the House bill now has over 100 co-sponsors from both sides of the aisle.
The oil industry is nervous. They've sent their lobbyists to the Hill in full force to stop—or at least weaken—these bills, and they're pulling out all the stops. The American Petroleum Institute, an industry front group of more than 400 oil and gas companies, even threatened that new laws could increase gas prices more.
Enough is enough. This summer, we can stop Big Oil from profiting at the expense of American families. Can you sign the petition to ask your representative to make gasoline a price gouging a federal crime now?
Sign the petition: Stop Price Gouging Don't forget to pass it on to your friends—this week is an historic opportunity to send Big Oil a message that we've had enough.
Thanks for all you do.
from:
–Ilyse, Natalie, Eli, Tom, and the MoveOn.org Political Action Team, Tuesday, May 22, 2007
It's something each of us can do. We are a democracy and we need to let our representatives in Congress know what we want them to do - not what big oil wants them to do. Don't forget: Czar George's money is all in a blind trust based on his family's connection with the oil companies.
Click on the link Stop Price Gouging to sign the petition.
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