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Politics : Rat's Nest - Chronicles of Collapse

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To: Skywatcher who wrote (3992)	4/25/2006 12:57:45 PM
From: Metacomet	Read Replies (2) of 24210

Bush Eases Environmental Rules on Gasoline WASHINGTON - President Bush on Tuesday ordered a temporary suspension of environmental rules for gasoline, making it easier for refiners to meet demand and possibly dampen prices at the pump. He also halted for the summer the purchase of crude oil for the government's emergency reserve. The moves came as political pressure intensified on Bush to do something about gasoline prices that are expected to stay high throughout the summer. Bush said the nation's strategic petroleum reserve had enough fuel to guard against any major supply disruption over the next few months. "So, by deferring deposits until the fall, we'll leave a little more oil on the market. Every little bit helps," he said. Wholesale gasoline futures prices for June delivery dropped 8 cents a gallon to $2.10 on the New York Mercantile Exchange immediately upon Bush's remarks. Easing the environment rules will allow refiners greater flexibility in providing oil supplies since they will not have to use certain additives such as ethanol to meet clean air standards. The suspension of oil purchases for the federal emergency oil reserve is likely to have only modest impact since relative little extra oil will be involved....... news.yahoo.com

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