Bush Considers Short Term Gasoline Price Fix (What, No One Knows)

[hatrack]

WASHINGTON - "The Bush administration is looking at possible "short-term things" to address record-high retail gasoline prices, Kyle McSlarrow, the Energy Department deputy secretary, said yesterday.

The White House is under growing pressure from Republican and Democratic lawmakers to take action. Earlier yesterday, the Organization of Petroleum Exporting Countries rejected a Bush administration plea and decided to cut crude oil production by 1 million barrels per day in April, a move that will tighten global supplies even more and pressure prices.

"We're willing to look at some short-term things," McSlarrow told reporters after addressing a meeting of the National Energy Marketers Association. He refused to elaborate.

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The administration will "stay on course" with its plan to keep filling the nation's crude oil stockpile, the Strategic Petroleum Reserve, because it is important to national security, McSlarrow said."

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http://www.planetark.com/dailynewsstory.cfm/newsid/24530/story.htm