In Washington, President Bush announced a series of measures Tuesday that he billed as an attempt to hold down record-high gas prices. The President said he would suspend refilling of the nation’s Strategic Oil Reserve in order to increase available supply. Bush also said he would wave environmental laws that require cleaner burning fuel. The President also called for an investigation of several oil companies for price fixing, and that a $2 billion oil company tax break should be repealed. According to the Washington Post, several Republicans privately said the President’s call for price-fixing investigations was “good politics” but would unlikely result in any significant changes. Furthermore, the President’s call for a repeal of the oil company tax break would not repeal the tax break but simply stretch it out from two to five years.
President Bush Announces Gas Measures
HeadlineApr 26, 2006