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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: Olaf Koch who started this subject4/7/2001 3:18:32 PM
From: rolatzi  Read Replies (2) of 95453
 
The politicization of the energy shortage continues.
From Yahoo!
Saturday April 7, 12:52 pm Eastern Time

U.S. Dems accuse Bush of "inaction" in power crisis

WASHINGTON, April 7 (Reuters) - Congressional Democrats accused President George W. Bush on
Saturday of ``inaction and excuses'' instead of protecting consumers in western states from rising
electricity prices and power supply shortages.

``We know that in a crisis inaction is not an option,'' Rep.
Jay Inslee of Washington state said in the Democratic reply to Bush's weekly radio address.

``But to date, unfortunately, that is all America has received from the Bush administration --
inaction and excuses,'' he said.

Sen. Jeff Bingaman of New Mexico, who also spoke in the Democratic radio message, called
on Bush to make good on campaign promises by expanding emergency assistance to
low-income families feeling the pinch.

In addition, he urged the Bush administration to join Democrats in crafting a comprehensive
energy plan that "balances our need to produce more domestic oil and natural gas, and to be
more efficient in energy usage.

Faced with rolling blackouts because of power shortages, California Gov. Gray Davis proposed this week raising electricity rates by 26.5
percent to help cash-strapped utilities get back on their feet. The power companies have been hemorrhaging cash because of a 1996
power deregulation law.

Inslee said the Federal Energy Regulatory Commission, which regulates interstate electricity markets, ``has the responsibility to assure
that only reasonable energy prices are charged.''

But, he argued, the Bush administration was refusing to enforce fair pricing laws.

Vice President Dick Cheney and a task force he heads on the power crunch ``even refused to meet with members of Congress, including
myself, who asked for a discussion on this issue,'' Inslee said.

The White House had no immediate comment. In his radio message, Bush on Saturday urged Americans to pressure Congress to pass
``a substantial tax cut'' a day after a Senate vote sliced his tax relief proposal by 25 percent.

``The crucial votes ... are still ahead,'' Bush said in his weekly radio address. ``These are not routine votes. They are not ordinary
business. They are decisions that we cannot afford to get wrong.''

The Bush administration's ``callous'' reference to this simply as a ``California problem'' with no short-term solution threatens not only
consumers in the West but the entire U.S. economy, Inslee said.

Forty Democratic members of Congress have proposed legislation to ensure that Americans see ``reasonable'' energy rates enforced.

The bill seeks to stabilize prices while also covering the costs and providing a profit to electricity generators.

Americans, of whatever political stripe, deserve a federal government that will enforce the law,`` Inslee said. ''We must enforce that law
so that Americans can get what they deserve -- reasonable electricity prices."
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