Pain at the Pump | Green Energy News |

August 28, 2005 – Vol.10 No.23

PAIN AT THE PUMP.

On the day drivers in the U.S. first began to feel the pain of higher gas prices as result of Katrina, DaimlerChrysler introduced their biggest pickup truck yet, the manly Dodge Ram Mega Cab. It’s the largest pickup truck on the planet, they say.

What were they thinking?

Here in Maryland a rumor that filling stations would close on Friday afternoon before Labor Day and not open until Tuesday quickly spread and caused gas lines to form in a matter of a few hours.

It was a prank.

At the state level some governors took action. The governors of Pennsylvania, Delaware, New Jersey and Wisconsin asked President Bush to swiftly cap corporate oil profits, strictly prosecute any violation of federal antitrust laws and take all possible action to protect against profiteering.

In a separate action Pennsylvania Governor Edward Rendell directed gasoline retailers to immediately begin retaining fuel terminal price quotes and delivery notices until further notice to prevent price gouging. Any retailer with an excessive price margin would be subject to investigation.

Governor Rendell also asked state agencies to refine existing fuel conservation programs or create new ones. The state’s Department of Environmental protection was assigned the task of monitoring the nation’s fuel situation.

Other states suspended sales taxes on gasoline to ease the pain at the pump.

On the national level President Bush asked drivers to conserve fuel - not buy a full tank unless they need it.

But what else could he do if the situation persists?

He could ask state governors to impose 55 mile per hour speed limits on major highways.

He could also ask Congress to pass legislation to make the provisions of the Energy Policy Act of 2005, which he has just signed, retroactive until September 1, 2005. In the legislation, tax credits for energy saving provisions don’t come into play until January 1, 2006 and thus are credited on 2006 tax returns. Retroactive credits could be taken on taxpayer’s 2005 forms. Would he do this? Write your Congressman.