IT’S OIL WRONG

“American consumers are facing record prices for gasoline at the pump. Anyone who is trying to take advantage of this situation while American families are forced into making tough choices over whether to fill up their cars or severely cut back their budgets should be investigated and prosecuted. Therefore, we believe that federal law enforcement agencies and regulators should take every available step to ensure that all federal laws protecting American consumers from price-fixing, collusion, gouging and other anti-competitive practices are vigorously enforced.”

Thing is, these sorts of investigations have happened in the past and produced no evidence that Big Oil is manipulating prices. Hastert, Frist and Bush know that, but with voter disaffection with Bush and Congress growing, they have to look tough on this vital pocketbook issue, especially with oil companies setting record profits. Sen. Arlen Specter wants to impose a windfall- profit tax on oil companies, which won’t do much to curb the rising prices. But if the money raised can further support alternative-fuel research, it’s a move worth supporting. Big Oil should just consider the tax a good public-relations move.

philly