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 By Jack Lepiarz Apr. 25, 2006 Anyone who has paid a recent visit (emphasis on paid) to the gas pump has no doubt noticed the rising gas prices. Just three weeks ago, the cheapest gas in town was $2.30 a gallon. Now, that number has ballooned to about $2.85. That would be fine, if big oil companies weren't posting record profits at the same time. Just one company, ConocoPhilips, posted a 78% increase in profits for this past quarter, and companies like Exxon Mobil are making well over 37 billion dollars a year. That's just wrong. Fortunately, some members of Congress have begun to notice this frustrating trend, and Senator Arlen Specter has suggested a windfall tax to lower gas prices and has also suggested that Congress strengthen antitrust laws--especially for oil companies. All I can say is that it's about time. Republican Arlen Specter was recently named as on of TIME's top ten senators, along with other heavy hitters such as John McCain and Ted Kennedy, and more relatedly, Carl Levin, a Democratic Senator from Michigan who has echoed Specter's remarks. He said that gas prices could come down in a matter of days President Bush merely expressed his support for this tax. "But," said Levin while appearing with Specter on CNN's "Late Edition," "the president will not call the oil companies into his office because he's been too closely allied with those oil companies, and if he does it's going to be a window-dressing conversation." Americans can pay three dollars a gallon if it is necessary. However, it is not necessary when large oil companies like Exxon Mobil Corp. and ConocoPhilips are posting huge profit increases. It is thoroughly refreshing to see two senators from different parties coming together to work on this together. It almost gives you some faith in politics. ------------ About the author: Jack Lepiarz is a senior at Madison High School. Born in Waco, Texas, he lived with the Big Apple Circus for much of his early childhood, eventually moving to Madison, New Jersey, where he now resides. Although he is often described as stubborn and egotistical, he tries to keep an open-mind towards new ideas and treat people the way he would like to be treated. Email: Jackwuzhere42@aol.com Comment on this article here! ------------ All articles are EXCLUSIVE to Useless-Knowledge.com and are not allowed to be posted on other websites. ARTICLE THIEVES WILL BE PROSECUTED! |
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