Congress fights over high oil prices

Wed, May 7, 2008
Posted in Alaska News

The political battle over high oil and gasoline prices continued in Congress today. Democrats unveiled a plan that calls for a trust fund to spur renewable sources, energy efficiency and consumer price protection. It would be paid for by slapping a windfall profits tax on oil companies and repealing $17 billion worth of oil and gas industry tax breaks. It also calls for anti-price gouging measures and punishment for OPEC countries if they’re found guilty of price manipulation.

Joel Southern, APRN - Washington, DC

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