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4/24/2006

Gas Prices Have Senators, Congressmen Seeing Green


(Washington, DC) Republican congressional leaders on Monday urged the Bush administration to investigate whether oil companies are overcharging consumers at the gasoline pump and if speculators are pushing up fuel prices.

Senate Majority Leader Bill Frist and House Speaker Dennis Hastert wrote President Bush and asked him to direct the US Attorney General and the FTC to investigate profiteering.

"It is clear that the big oil companies are raking in some serious green, and we want to make sure they remember us in November," the two leaders wrote to the President. "The idea that large amounts of money do not have a little sumpin'-sumpin' for the GOP is an outrage."

They also asked the Bush administration to scrutinize the trading of oil, gasoline and other energy contracts on the New York Mercantile Exchange to determine if the price spike is caused by market manipulation.

"If there are opportunities to get in on the speculation and sell energy futures short, we want some of that action," said Hastert and Frist. "Both of us have kids and grandkids in college, and clearing an extra $200K here or there could help out quite a bit."

Republican rep Joe Barton said it "troubles" him that former Exxon Mobil Corp. CEO Lee Raymond was given a $400 million retirement package while U.S. refining capacity can't keep up with demand.

"When I saw that number - $400 million - I thought to myself that I am losing out here," he said. "If Exxon can toss that kind of money to n ex-CEO, they can surely toss a couple million to a good friend like Joe Barton." Kaavya Viswanathan

Comments:
And the Dems are just GREEN with envy. . .

There's something about ragging on the oil companies when they are so flush with cash that puts a twist in in the Dem's colons ;-)
 
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