Prohibitions On Market Manipulation and False Information in Subtitle B of the Energy Independence and Security Act of 2007 #535819-00079

Submission Number:
535819-00079
Commenter:
Daniel Cannode
Organization:
U.S. Citizen
State:
OH
Initiative Name:
Prohibitions On Market Manipulation and False Information in Subtitle B of the Energy Independence and Security Act of 2007

I believe very strongly that the gas prices are being maniplated. You cannot convince me that when the local newspaper says that the price of a barrel of crude has risen to X- amount (futures) that the pumps can reflect it the same day. Case in point, The newspaper reported that crude had reached an all time high two days ago. Locally gas was selling for $3.89 a gallon (already outragious) on Tuesday, Wednesday it went to $3.99 a gallon and today Thursday it is $ 4.19 a gallon. There is no explanation other than price gouging.... It is absolutely obscene for an oil company to 50-100billion in profits in ONE QUARTER!!! Don't try to tell me about reaserch developement, finding new oil.. That is not being done. We that live on the Great Lakes know that we are sitting on the largest oil reserve in the world. Congress has bowed to pressure from the Enviromentalists to not drill here.. It really does not matter if we miraculously came up with a billion barrels or even more yesterday. The truth and everyone knows it but will not admit it is we HAVE NOT BUILD a NEW REFINERY since the 70's.The irony of the last statement is it would take "at Least" ten years to build one and nobody wants one in their community. So in my opinion it is not a gasoline shortage or the cost of a barrel of crude (futures mind you), it is pure unadulderated greed (profits). I am not a fan nor have I ever been of Big Government but, someone at the Government Level needs to stop this now!!! And please, do not blame it on President Bush. He has no control over the raping of the American people at the pumps.... Daniel Cannode