In the aftermath of Hurricane Ike, gas prices have risen sharply. Many suspect gas price gouging by the oil companies are the reason for the sudden prices.In just one example shown on CNN, gas prices at one station rose to $4.99 a gallon, a jump of $1.50 in just one day.
President Bush spoke out this weekend to pledge support for keeping prices legal:
"In the meantime, the Department of Energy, the Federal Trade Commission, and I know state authorities will be monitoring gasoline prices to make sure consumers are not being gouged, make sure consumers are being treated fairly. "The massive Hurricane Ike caused closings on oil rigs, platforms and refineries and has severely limited transportation while at the same time causing an increase in demand.
It's fairly obvious that the American motorist again is the victim of our dependence upon oil and gasoline. Whether by the whims of foreign dictators or continued storms, America needs to continue to develop alternative fuels.
Source: WhiteHouse.gov
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