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Gas Prices Likely to Top $3 by Summer
By Steve Pendlebury - AOL News(Feb. 23) -- Even though demand for gasoline is down because of the weak economy, drivers can expect increased pain at the pump. Experts predict the rising cost of crude oil will drive retail gas prices above $3 a gallon this summer. The national average price for regular unleaded gas is about $2.66 a gallon now, according to AAA. That's nearly 80 cents more than a year ago, when prices had bottomed out after a wild ride in 2008. If the pattern repeats itself this year, prices will rise steadily for months to come. Fred Rozell, retail pricing director at Oil Price Information Service, told ...
Gasoline Heading Above $3 a Gallon by Summer
By not in system - AOL NewsNEW YORK (Feb. 22) - Retail gas prices likely bottomed out last week, and they're again headed to above $3 a gallon this summer, experts said Monday. Although pump prices typically rise this time of year as refineries switch to a more expensive grade of gas, the increase likely will frustrate many motorists. Prices are climbing even after millions of Americans received pink slips and kept their cars in the driveway. "If you look at demand, it's just abysmal," said Fred Rozell, retail pricing director at Oil Price Information Service. What's pushing prices higher isn't American consumption. ...
Less Driving, More Efficient Cars Could Cost Consumers at the Pump
By Mark Impomeni - Politics DailySo much for doing what the government recommends. A commission created by Congress to study the way the nation's highway system is funded is set to issue a report later this month calling for an increase in federal gasoline and diesel fuel taxes to pay for road and bridge improvements. According to the report, the increase is needed to make up for a shortfall in revenues from the existing fuel tax. That shortfall is due to American drivers consuming less fuel and driving more fuel efficient cars and trucks. Less driving and greater fuel efficiency means less fuel purchased, and less taxes ...
Offshore Drilling Ban Expires
By Mark Impomeni - Politics DailyTwenty-seven years after it was first established, he Congressional ban on offshore drilling officially and quietly expired today. The ban was not a prohibition on drilling per se. Rather, it was a ban on appropriating money for the Interior Department to process of new drilling leases. With the beginning of the new fiscal year, that prohibition will end, once Congress passes a budget resolution that restores the funding. After years of opposition to increasing domestic supplies of energy, a full year of fighting House Republicans on the issue, and a summer of defending itself against a vocal ...
House Dems to Let Drilling Ban Expire
By Mark Impomeni - Politics DailySources in the House of Representatives are reporting that House Democrats are set to allow the Congressional ban on offshore drilling expire at the end of the month when the fiscal year ends. If the report turns out to be accurate, it would represent an epic political victory for Republicans and underscore just how seriously the American people's demand for increased development of American energy sources shook Democrats' expectations for the fall elections. A House staffer said in an e-mail that House Appropriations Committee Chairman David Obey (D-WI) is telling reporters that Democrats on ...
House Passes Limited Drilling Bill
By Mark Impomeni - Politics DailyDemocrats in the House passed an energy bill today that will provide limited drilling expansion off small areas of the U.S. coast. The bill will open up drilling in the Outer Continental Shelf off the coasts of four states: Virginia, North Carolina, South Carolina, and Georgia, and the eastern Gulf of Mexico off Florida. But drilling would be confined to an area no closer than 50 miles to the coast and no further than 100 miles. The bill also continues prohibitions on increased exploration in Alaska's North Slope, and the interior Mountain West. House Speaker Nancy Pelosi (D-CA) praised the ...
In Reversal, Dems to Allow Drilling Vote
By Mark Impomeni - Politics DailyHouse Democrats said Wednesday that they were open to a vote on a Republican oil drilling measure, reversing their stand against the legislation. Republicans called that a victory in their summer-long efforts to get the House to vote on increased domestic production of oil as a means of lowering gasoline prices. House Speaker Nancy Pelosi steadfastly refused to bring up the Republicans' American Energy Act throughout June and July. But after an August recess in which many Republicans remained in Washington holding informal sessions on the House floor highlighting what they called Democrats' ...
Pelosi Backs Down on Drilling Vote
By Mark Impomeni - Politics DailyAfter weeks of refusing to allow a vote in the House of Representatives on drilling for new domestic sources of oil, House Speaker Nancy Pelosi (D-CA) indicated today that she may indeed finally allow a vote on the measure. Republicans have been holed up in the House chamber, conducting a protest session of the House and calling on Pelosi to call the House back into session to vote on drilling. Some Democrats have also been signaling that they would like an opportunity to vote on drilling as well. Faced with growing pressure from the right and the center on an issue supported by more than 70% ...
The Evil of Two Lessers
By David Knowles - Politics DailyWith every passing election, Americans reaffirm a basic truth about the inherent nature of those who seek higher office: politicians lie to get elected. In fact, it is something of a bedrock assumption that to rise in the ranks of the politically powerful, one must, by definition, be untrustworthy. Hence the dictum: Power corrupts. Absolute power corrupts absolutely. Indeed, the race for president might be viewed as a competition to see who can tell the more convincing lies about his or her opponent. This might come as crushing news to idealistic followers of Barack Obama or John McCain (and, ...
WH Won't Call Special Session of Congress
By Mark Impomeni - Politics DailyThe White House announced today that the president will not exercise his Article II Section 3 power to reconvene the House for a special session to debate oil drilling. Rep. Mike Pence (R-IN) and several of his GOP House colleagues sent a letter to the president last week asking him to call the House back if it adjourned without a vote on offshore oil production. Republican House members have been holding protest sessions on the House floor since majority Democrats recessed for the five-week August break last Friday.In declining to call a special session, the White House stressed that the ...
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