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Democrats blame Big Oil for gas prices

May 11, 2007 at 9:26 AM   |   Comments

WASHINGTON, May 11 (UPI) -- Congressional Democrats are taking aim at big oil companies as U.S. gasoline prices near a record average $3.05 a gallon.

Although industry experts doubt it will have any effect, half a dozen senators gathered in front of a Washington service station to push their own remedies to the situation, the Washington Post said.

The latest average price for a gallon of unleaded regular gas was $3.042, according to the AAA Fuel Gauge report.

Sen. Charles Schumer, D-N.Y., called on Congress to consider breaking up the giant companies. Sen. Bernard Sanders, I-Vt., pushed for a windfall profits bill.

Sen. Maria Cantwell, D-Wash., promoted her anti-price-gouging bill, which the Senate Commerce Committee adopted earlier this week.

The U.S. government's Energy Information Administration

predicted regular unleaded gasoline would average $2.95 a gallon this summer, 11 cents a gallon more than last summer.

© 2007 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
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