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Politics : Rat's Nest - Chronicles of Collapse -- Ignore unavailable to you. Want to Upgrade?

To: Wharf Rat who wrote (3857)	4/9/2006 12:03:10 AM
From: Wharf Rat	Read Replies (1) \| Respond to of 24213

My laughs for the day, energy related. Saw an e-mail floating around the hospital...."Gas prices too high blah blah 'don't buy gas day' didn't work blah blah so here's what we do; we boycott Exxon and Chevron, the 2 biggest, and make them bring it down. Really. It said that. Then, there's this... U.S. senators unveil plan to rein in big oil, OPEC Thu Apr 6, 2006 5:14 PM ET By Chris Baltimore WASHINGTON, April 6 (Reuters) - Six U.S. senators on Thursday backed legislation that could spur more federal scrutiny of future mergers between oil companies, and trigger a possible price-fixing lawsuit against the OPEC oil cartel. Meanwhile, 52 Democratic lawmakers asked the White House to hold a bipartisan "energy summit" to talk about securing future U.S. energy supplies as U.S. oil prices neared $70 a barrel and gasoline pump prices march closer to $3 a gallon in advance of the busy summer driving season. The White House declined to accept to the invitation and said Democrats should support President George W. Bush's plan to cut crude oil use through alternative fuels like ethanol. The Senate bill, sponsored by Senate Judiciary Committee Chairman Arlen Specter and Wisconsin Democrat Herb Kohl, would encourage greater scrutiny by the U.S. Justice Department and Federal Trade Commission of future oil and gas mergers. The "Petroleum Industry Antitrust Act of 2006" would also allow the U.S. attorney general to sue oil producing cartels if they try to limit production or set prices -- a provision aimed squarely at the Organization of Petroleum Exporting Countries, which pumps about a third of the world's crude oil. "OPEC has America over a barrel and we should fight back," said Sen. Patrick Leahy, Vermont Democrat. Separately, Democrats led by Sen. Maria Cantwell of Washington asked the White House to convene a bipartisan "energy summit" to talk about solutions. A White House spokesman said Bush is glad Democrats are paying attention to his warnings about foreign oil dependence. But spokesman Ken Lisaius made no commitments beyond working with Republicans in Congress to pass Bush's "Advanced Energy Initiative." That plan calls for more research and funding into clean-burning fuel sources like ethanol as well as wind, solar and electricity from hydrogen. "We welcome (Democrats) on board the President's Advanced Energy Initiative that the president has been talking about since January," Lisaius said. Separately, Sen. Kent Conrad, North Dakota Democrat, filed energy legislation that would give rebates up to $2,500 for consumers to buy the most fuel-efficient automobiles. Conrad's bill would also future U.S.-made cars to have alternative technology like flexible that run on ethanol fuel or hybrid electric-gasoline power. today.reuters.com