PRESIDENT GEORGE W. BUSH Message Board

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Politics : PRESIDENT GEORGE W. BUSH

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To: puborectalis who wrote (157267)	7/2/2001 10:00:02 PM
From: ColtonGang	Read Replies (3) of 769667

OIL COMPANIES — NOT OPEC —BLAMED Independently-owned U.S. refineries, more storage tanks and stricter fuel standards for sport utility vehicles are needed to protect motorists from another jolt of record-high gasoline prices, the Consumer Federation of America said Monday. The advocacy group blamed oil companies — not the Organization of Petroleum Exporting Countries — for pushing up prices during the past year to pocket larger profits. “We find the gasoline market suffers from inadequate capacity and inadequate competition,” said Mark Cooper, economist for the Consumer Federation of America. “Prices are 20 cents a gallon or more higher than they were a couple of years ago,” Cooper said at a news conference to release the group’s new study of fuel prices. Profit margins on a gallon of gasoline “have more than doubled” during the same two-year period, he added.

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