Mostly Hot Air on Gas
By Dan Froomkin
Special to washingtonpost.com
Tuesday, April 25, 2006
President Bush's challenge this morning was to address the problem of skyrocketing gas prices in a way that would telegraph to the public that he is concerned and is on the ball.
Whether he succeeded or not will depend on how his speech gets covered today and tomorrow. But by any reasonable measure, he was short on substance....
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Dow Jones reports that the move (halting deposits to the Strategic Petroleum Reserve) would free up about 70,000 barrels a day otherwise destined for the reserve in the coming weeks.
By my calculations, that's about one third of one percent of the total U.S. consumption of about 20 million barrels a day -- anyone want to call that a drop in the bucket?
The other news, which the White House first announced last night, was that Bush has ordered the Justice and Energy departments to investigate possible price-gouging....Bush has been touting administration anti-gouging enforcement for more than a year now, and there is no indication this new announcement is anything but a feint on his part....
http://www.washingtonpost.com/wp-dyn/content/linkset/2005/04/11/LI2005041100879.html
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