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Tuesday, April 25, 2006

Because He's All About Solutions 

At long last, a politician who's not afraid to stand up to big oil:
President George W. Bush unveiled on Tuesday a raft of proposals and government moves to counter near record-high crude oil and gasoline prices . . . .

Bush took the offensive on Tuesday in a speech to the pro-ethanol Renewable Fuels Association, where he called for energy companies to plan "strong reinvestment" of their record profits.

Bush also gave U.S. oil companies more time to pay back emergency loans from the Strategic Petroleum Reserve to put more oil on the market.

"Our strategic reserve is sufficiently large enough [sic] to guard against any major supply disruption over the next few months," he said. "So by deferring deposits until the fall we'll leave a little more oil on the market."

The amount of remaining oil that was scheduled to be delivered to the reserve was 2.1 million barrels in May, which would supply about two hours of the average 21 million barrels of oil the United States consumes each day. "Every little bit helps," Bush said.

Bush called on the U.S. Environmental Protection Agency to use fully its authority to waive federal clean-burning gasoline rules this summer, and called for a state task force to look in to ways to cut the dozens of so-called boutique fuel blends, which make it harder for refiners to move gasoline supplies to regions hit by shortages.
So, to recap the dilemma we face:
Given the gravity of these problems, or of problem #4 at least, it is no wonder our bold, daring Commander-in-Chief has shown the daring to boldly set forth such daringly bold initiatives:
UPDATE: From our eminent colleague John Byrne of Raw Story, news of a Democratic plan to revoke federal gas taxes for sixty days. The proposed measure would reduce the average cost of gasoline by 18.4 cents a gallon; lost revenues would be replaced by eliminating various tax breaks to oil companies.

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