Sick of oil gouging? Sign here!
There is no obvious reason for this rate hike, other than rampant greed. The oil industry now does this every year, as soon as the travel season begins, while continuing to rake in record profits every quarter. They do this because they can; because there are two oil men in the White House -- and because no one has, until now, raised a finger to stop them.
Hearings begin today on H.R. 1252, a House bill that if passed, will make gas price gouging a federal crime, punishable by 10 years in prison. Pelosi has said she'll move the bill to a vote this week—if there is a two-thirds majority required to fast track the bill through the process.
If you're sick of gas price gouging, contact your representative immediately, and sign this Moveon.org petition asking Congress to pass the price-gouging bill:
Sign the petition
Rep Bart Stupak (D-MI), sponsor of the House bill said "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."
Um, yeah. Shocker.
According to Moveon.org, in April, over two-thirds of Americans reported that their gas bills were causing financial hardship, with one third admitting that gas prices were having a "serious" impact on their families. Meanwhile, the top two US companies, Exxon-Mobil and Chevron-Texaco, announced a combined $14 billion in first quarter profits.
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. Maybe we can get this done...
The oil industry is supposedly nervous (I'm having a hard time imagining this, but maybe... we'll see.) They've sent a full regalia of lobbyists to the Hill to stop—or at least weaken—these bills, and stall them so they never reach a vote. The American Petroleum Institute, an industry front group of more than 400 oil and gas companies, even threatened that these new laws could increase gas prices even more. Oh please. (Now if that isn't gouging, what is?)
Labels: Big Oil, Gas prices, MoveOn.org, Oil
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