Cantwell Urges Action on Gas Price-Gouging

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Full article: http://www.guardian.co.uk/worldlatest/story/0,,-5804033,00.html

`The American economy and American families are hurting,'' she said.

Cantwell cited reports of school days being canceled because local school districts can't afford the cost of diesel fuel for buses, and airline jobs and pensions being lost ``because airlines can't afford the skyrocketing cost of jet fuel.''

While about half of the oil consumed in the United States comes from foreign countries, Cantwell said Democrats believe America can be ``energy independent'' by 2020.

``It begins with conservation and efficiency,'' she said. ``We can ask Americans to sacrifice. We can ask Americans to conserve. We can ask Americans to innovate and invest in new technologies. We just can't ask them to accept the status quo.''

Cantwell said it was time to end huge tax breaks for big oil companies. She said they should be replaced with new incentives for cars that are made of lightweight, efficient materials and can run on either ethanol or gasoline.

Democrats Push to End Tax Breaks for Oil Companies
By REUTERS
Published: May 6, 2006

WASHINGTON (Reuters) - Democrats on Saturday pressed the U.S. Congress to slash tax breaks for profit-flush oil companies amid record high gasoline prices and quickly pass legislation aimed at protecting consumers from price-gouging.

Sen. Maria Cantwell, a Washington Democrat up for reelection this fall, said the tax breaks for oil companies should be changed to offer incentives for vehicles that can run on ethanol and for more energy-efficient goods.

"It's time to end the huge tax breaks for big oil, and replace them with new incentives for lightweight, efficient materials and for cars that can run on either ethanol or gasoline," she said in the Democrats' weekly radio address.

The national retail price for gasoline hit an average of $2.92 a gallon in the last week, up 42 cents a gallon in the last month. Some oil companies have been reporting hefty profits recently.

Democrats, who believe they could wrest majority control of Congress from Republicans in the November election because of soaring gasoline costs, earlier this week offered legislation that they said would slash at least $28 billion in tax breaks and subsidies for oil and natural gas companies....

http://www.nytimes.com/reuters/news/news-energy-democrats.html

You know, the Democrats don't have a plan? Here's another one. God, I wish they could come up with something like getting rid of tax breaks for big oil. Something like that would help balance the budget and might even give those oil guys something to think about. Man, I wish the Democrats would come up with a PLAN like that!

/sarcasm

Regular's been at $3.43 all week here in N. Cal. I make sure to look every time I ride my bike past the gas station on the way to work.