Tuesday, June 26, 2007

New Op-ed Tech Central Station: On the new Energy Bill Going Through Congress

Here is a link to my new op-ed:

With gas prices around $3 a gallon, the Senate last week passed new energy legislation. It will ultimately go to conference with the House to work out differences between the Senate and House bills. But any bill that gets agreed upon seems certain to increase the swings in gas prices and leave the average American worse off.

Senator Charles Schumer (D-NY) claims that oil companies are colluding to drive up the price, "they wink at each other and do the same thing." Likewise, Senator Hillary Clinton (D-NY) blames the companies for taking advantage of Hurricane Katrina to raise prices: "You have a hurricane, and all of a sudden you see prices going up like that. That has... everything to do with people trying to make money off the backs of this tragedy."

With such reactions, it is not too surprising that a new Bloomberg/Los Angeles Times poll shows that 38 percent of Americans view the U.S. oil industry's "gouging, greed, profits" as the main reason for higher gas prices. The second reason is "the Bush Administration" at 21 percent. . . . .

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