April 25, 2006
From the Commonwealth to the Capitol, politicians all across the country are responding to rising gas prices. Today President Bush outlined a four-point plan to help reduce oil prices in the near future. With the national average of gas at over $3 a gallon, some are saying these words are too little and much too late.
"The experts predict gas prices are going to remain high throughout the summer and that's going to be a continued strain on the American people," said President Bush.
Speaking before the Renewable Fuels Association, President Bush set forth a plan he hopes will help ease the nation's growing fuel prices. The plan includes suspending environmental regulations at oil plants, promoting alternative fuels and not adding any more oil to the nation's reserves.
"By deferring deposits until the fall, we will leave a little more oil on the market. Every little bit helps," said President Bush.
Detractors say the President's plan will not help the Country's problem now.
"It's nice that the President is finally talking about gas prices but talk is cheap and gas isn't," said New York Democratic Senator Charles Schumer.
"We've got price gouging legislation on the books in Virginia," said Governor Tim Kaine on WTOP Radio's Ask the Governor Program.
At home in the Commonwealth, Governor Kaine says his administration will be keeping it eye on local fuel prices. New legislation allows the Governor to order the lowering of prices if it is deemed "unconscionable."
"I'm not going to hesitate to seek out and find whether folks are gouging and go after them if they are," Kaine said.
Now experts say don't expect prices to come down anytime soon. They say the simple act of not adding to the reserves will save about 2.1 million barrels of fuel, which is not much when compared to the nearly 20 million barrels a day the Country consumes.