Congressional Investigation of Gas Prices

In 2008 the price of gasoline at the pump on average peeked at $4.24 per gallon of gas while the price of a barrel of oil peeked at $146. Today gasoline averages $2.34, while a barrel of crude oil is about $56.00. In addition to this disparity, oil/energy has historically enjoyed "privileged" treatment, i.e.; 1) Shortly after the 2000 election electrical utilities increased rates that eventually proved to be an energy industry created event. The rates were reversed only after Pres. Bush negotiated with utility representatives and gave them a huge sum of tax payers money. 2) The oil interest have been receiving billions of dollars of tax payers money for exploration and development, yet all these oil companies want is to drill in AN WAR or our coastal continental shelf's. The continental U.S.A. has vast reserves that are waiting to be mined, both unknown and established fields with large reserve wells that are capped, yet the oil interest refuse to address them except to say that these fields are not going to be very profitable or that it takes years to prepare a well for production. Yet these companies are very ready to get to work in the very fields that the public absolutely refuses to relinquish. 3) In spite of record breaking profits oil, natural gas, COAL, and nuclear power companies have many problems that these industries refuse to touch their profit margins to address, such as pollution, waste management, and public/environmental safety, to name a few. I contend that the price gouging must be addressed by a congressional committee, criminal investigations initiated and ANYONE and EVERYONE involved in illegal acts of price fixing or distribution of public funds prosecuted to the fullest extent of the law.

In 2008 the price of gasoline at the pump on average peeked at $4.24 per gallon of gas while the price of a barrel of oil peeked at $146. Today gasoline averages $2.34, while a barrel of crude oil is about $56.00. In addition to this disparity, oil/energy has historically enjoyed "privileged" treatment, i.e.; 1) Shortly after the 2000 election electrical utilities increased rates that eventually proved to be an energy industry created event. The rates were reversed only after Pres. Bush negotiated with utility representatives and gave them a huge sum of tax payers money. 2) The oil interest have been receiving billions of dollars of tax payers money for exploration and development, yet all these oil companies want is to drill in AN WAR or our coastal continental shelf's. The continental U.S.A. has vast reserves that are waiting to be mined, both unknown and established fields with large reserve wells that are capped, yet the oil interest refuse to address them except to say that these fields are not going to be very profitable or that it takes years to prepare a well for production. Yet these companies are very ready to get to work in the very fields that the public absolutely refuses to relinquish. 3) In spite of record breaking profits oil, natural gas, COAL, and nuclear power companies have many problems that these industries refuse to touch their profit margins to address, such as pollution, waste management, and public/environmental safety, to name a few. I contend that the price gouging must be addressed by a congressional committee, criminal investigations initiated and ANYONE and EVERYONE involved in illegal acts of price fixing or distribution of public funds prosecuted to the fullest extent of the law.