By DAN CATERINICCHIA
AP Business Writer
When gasoline prices first hit $3 a gallon in 2005, irate lawmakers quickly assembled top oil executives for a public grilling. Pump prices are again above $3, yet the outcry from Congress is barely a whimper by comparison - even after this week's warning from Federal Reserve Chairman Ben Bernanke that oil near $100 a barrel is a serious economic threat.
The change in tone since Nov. 9, 2005 - when Sen. Barbara Boxer, D-Calif., castigated oil executives for reaping multimillion-dollar bonuses while "working people struggle" - reflects an altered landscape in terms of energy economics and politics, analysts said.
- The American public is more accustomed to high prices, despite the financial pinch.
- Oil industry profits are retreating from year-ago levels as the soaring cost of crude crimps refining revenue.
- The outrage many Democrats expressed back then over high energy prices has been tempered by the fact that their party now controls Congress, making finger pointing more difficult.
Because the public recognizes rising prices are not directly controlled by Congress, or oil companies, and therefore lack any "obvious political fix," there's less pressure on lawmakers to hold hearings, said Douglas Holtz-Eakin, a senior fellow at the Peterson Institute for International Economics.
Another factor in the currently muted response to $3 gasoline is that Democrats, who had blamed the policies of a GOP-led Congress for helping fuel record oil-industry profits, now control the House and Senate.
"It's easier to throw stones when you're not in charge," said Evan Ringquist, a professor at Indiana University's School of Public and Environmental Affairs.
Boxer's office did not return calls for comment.
But now with the Democrat controlled Congress there is nay a peep, but if we listened to them correctly before they took control in November of 06' this was also one of the failed mandates they ran on, King Kossack even said so. (be sure to click on the comment thread below kos's post)
Here's what some Democrat's had to say then:
President Bush's four-point plan offered Tuesday to help get a grip on rising gas prices opened a fount for Democrats who slammed the president and claim that this could be the election issue of the year — one that favors them.
"I think the American public on this issue, on this issue alone, may decide the election this fall, on where you stand on this issue: on whether or not you stand with those that want to see a rebate going back or whether or not you're going to protect large oil companies ... and if you're perceived as standing on that side and your up for re-election or election, then you're in trouble," said Sen. Chris Dodd of Connecticut.
Dodd said he anticipates that senators will attempt to deride this legislation, but they do so at their "own peril" because soaring gas prices will affect the 2006 election.
"This is an administration that is almost marinated in oil. One official after another has a history and background in this sector and yet, where was the Department of Energy, where was the Environmental Protection Agency, where was the Commodities Future Trading Commission at a key time in our country's energy future?" asked Sen. Ron Wyden of Oregon.
It's "crystal clear that the current spike in gas prices is at least partly due to an act of greed," added Sen. Bob Menendez, D-N.J. He said he will offer a plan to suspend the 18.4 cents-per-gallon gasoline tax for two months, with its cost financed by reducing tax breaks for the oil industry.
Sen. Chuck Schumer, D-N.Y., spoke confidently when he blamed runaway gas prices on oil companies and said the rates go "way beyond what supply and demand would merit." Schumer, who supports increased fuel economies for cars, said even China has higher car mileage standards than the United States
How about this gem from Pelosi:
Remember one thing: If you want to be energy independent ... and Democrats intend to achieve that within 10 years ... and if you want to reduce our dependence on foreign oil and therefore ... um ... improve our national security situation, you can't do it if you're a Republican because you are too wedded to the oil companies.We have two oilmen in the White House.... The logical ... follow-up from that is $3-a-gallon gasoline. There is no accident. It is a cause and effect.... a cause and effect.How dare the President of the United States make a speech today, in April ... many, many, many months after the American people have had to undergo the cost of home heating oil? The woman told me she almost fainted when she received her ... home heating bill over this winter ... and when so many people making the minimum wage, which hasn't been raised in eight years, which has a very low purchasing power, have to go out and buy, gasoline at these prices?Where have you been, Mr. President? The ... middle class squeeze is on, competition in our country is effected by the price of ... energy and of oil ... and all of a sudden you take a trip outside of Washington, see that the fact that the public is ... outraged about this, come home and make a speech. Let's see that matched in your budget, let's see that matched in your policy, let's see that matched in your separating yourself from your ... patron, Big Oil. Cut yourself off from that anvil that is holding ... your party down and this country down. Instead of coming to Washington and throwing your Republican colleagues under the wheels of the train, which they mightily deserve for being a rubber stamp for your obscene, corrupt policy of ripping off the American people.Thank you all very much.
I'd hate to think about the shape that that woman's in now Nancy, I'm sure she's beyond fainting now.
Harry Reid:
" Bush and his supporters in Congress don't want our government to have an aggressive approach to energy policy that rapidly reduces our dependence on oil, particularly from unstable regions of the world, or in any way cuts into their supporters compensation packages.
Instead, George Bush and Washington Republicans have given huge energy corporations unfettered and unprecedented influence on the policymaking process. Many of these companies have been able to get away with price gouging and supply manipulation. They’ve been able to avoid oversight and enforcement.
Earlier, I referred to global warming as one of the threats we and the world face. In fact, in the long run, it may be the biggest.But even here, Big Oil—not sound science—rules the Bush White House. They’ve methodically undermined scientific evidence and even scientists when the facts demonstrate how very real the threat of man-made global climate change is to our health, our safety, our communities and our economy".
Hillary Clinton:
Senate Democrats have put forward a comprehensive plan to build real energy security for America and reduce our dependence on foreign oil. Senate Democrats have a plan to protect consumers from price gouging, to provide them relief, and to make us more energy independent. We know America can do better.
But our Senate Democratic plans to implement a federal renewable portfolio standard, or to set a national oil savings target, have consistently been thwarted by the White House and Republicans in Congress.
After 9-11, the Administration squandered an opportunity to put forward a truly comprehensive, forward-looking energy policy to start us down the road to greater energy independence.
Instead, the Administration pushed a policy that got a few things right, but largely ignored the tough issues while handing out favors to oil companies and other established energy players.
Keep in mind when the Democrat outrage over gas, and oil prices started in April, of 06', gas was averaging around $2.80 a gallon, with oil at around $72 a barrel. Now with oil at $96.32 a barrel, and well over $3 at the pump where is the outrage, and outcry now?
Sadly it only seems to be an outrage if it's concerning partisan politics, and a powerplay, against a Conservative Congress. Concerning the majority of the MSM, and Democrat Congress, silence, and collusion prevail.
The crickets chirp, and the caravan moves on.
*UPDATE*
Pump price to jump 20 cents next 2-3 weeks: government
No comments:
Post a Comment