NY13 Blog; Retaking NY-13 from Rep. Vito Fossella

Following the corruption, ineffectiveness and hypocrisy of Rep. Vito Fossella.

Monday, May 28, 2007

Fossella supports high gas prices

Following up on yesterday's post is some comparative analysis from the Washington Post;

By far, the largest factor determining prices at the pump is the international price of oil. About 85 percent of the fluctuations in gasoline prices over the last 20 years were due to changes in the price of crude oil in the world market, according to the Federal Trade Commission. But that doesn't seem to be the case at present. The price of crude oil is actually lower now than it was last summer, yet gasoline prices are considerably higher. In fact, the Energy Information Administration (EIA) predicts that crude oil prices will average about $66 a barrel this summer, $4.00 per barrel less than last summer's $70.00 price. But the EIA is predicting that gasoline will average about $2.95 a gallon this summer, up about 11 cents from last summer's average of $2.84 per gallon.

Remember Rep. Fossella voted in favor of allowing Oil companies to excessively raise prices at the gas pump regardless of crude prices or supply costs. Via the DNC;

Gas prices have continued to skyrocket in recent weeks, though crude oil is lower than it was last summer. At the same time, as Stephanie pointed out, "ExxonMobil reported this year the largest annual profit of any U.S. company ever: $39.5 billion."

So once again we ask, why is Rep. Vito Fossella supporting the greed of companies like ExxonMobil as opposed to average citizens struggling to afford filling up their car with gas just to get to work?

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