personal preference art: President helps consumers battle pump prices
It's been less than a week since gas prices were last raised, and recognizing that the pockets of consumers are taking a big hit from the oil market the President recently unveiled a plan to address the issue. As your gas tank nears empty, you have no choice but to refuel. And while deciding where you'll gas up depends on personal preference or the nearest gas station, you can't help but cringe when thinking about how much you'll have to pay.
There's no telling when America will get relief at the pump, but in the meantime George W. Bush is taking steps to ensure that at the very least you aren't getting duped.
Today the President unveiled his four-part plan to confront high gasoline prices, a strategy including making sure consumers and taxpayers are treated fairly, promoting greater fuel efficiency, boosting our oil and gasoline supplies and investing aggressively in alternatives to gasoline so we can diversify away from oil in the long run.
In light of Bush's efforts, local officials like Guam Attorney General Douglas Moylan say that two measures are currently being explored that would support the plan. The efforts include requesting the Guam Legislature pass a gas cap to wholesalers and distributors instead of consumers, or creating a group purchase rate for fuel similar to the way the government offers insurance rates to employees.
Moylan told KUAM News, "The principle could be applied to fuel purchases where you get all the employees together along with the government's purchase of fuel because the government does purchase a large amount of fuel to run its equipment and bid out for possibly a twelve-month period to only one bidder that would be accepted from off-island or on-island, and have them offer a certain price that we could lock in."
Moylan points out that this would allow for competitive market forces to drive the prices down instead of having to litigate the matter through antitrust action.
With utility agencies consuming vast amounts of oil, Guam Power Authority spokesman Art Perez explains that they too, are in the process of increasing efficiency levels through the recent public utilities commission approval of a new program. "With the fuel hedging program," he explained, "it allows us to control some of the chaos within the fuel market and buy within a certain range of what that price of oil is because if you've seen it I think it's gone as high as $60 to $70 per barrel."
And with the ability of our utilities agencies to pass the savings on to the consumer, let's cross our fingers that the President's initiatives will eventually have the same effect at the pump.
by Marissa Borja, KUAM News
There's no telling when America will get relief at the pump, but in the meantime George W. Bush is taking steps to ensure that at the very least you aren't getting duped.
Today the President unveiled his four-part plan to confront high gasoline prices, a strategy including making sure consumers and taxpayers are treated fairly, promoting greater fuel efficiency, boosting our oil and gasoline supplies and investing aggressively in alternatives to gasoline so we can diversify away from oil in the long run.
In light of Bush's efforts, local officials like Guam Attorney General Douglas Moylan say that two measures are currently being explored that would support the plan. The efforts include requesting the Guam Legislature pass a gas cap to wholesalers and distributors instead of consumers, or creating a group purchase rate for fuel similar to the way the government offers insurance rates to employees.
Moylan told KUAM News, "The principle could be applied to fuel purchases where you get all the employees together along with the government's purchase of fuel because the government does purchase a large amount of fuel to run its equipment and bid out for possibly a twelve-month period to only one bidder that would be accepted from off-island or on-island, and have them offer a certain price that we could lock in."
Moylan points out that this would allow for competitive market forces to drive the prices down instead of having to litigate the matter through antitrust action.
With utility agencies consuming vast amounts of oil, Guam Power Authority spokesman Art Perez explains that they too, are in the process of increasing efficiency levels through the recent public utilities commission approval of a new program. "With the fuel hedging program," he explained, "it allows us to control some of the chaos within the fuel market and buy within a certain range of what that price of oil is because if you've seen it I think it's gone as high as $60 to $70 per barrel."
And with the ability of our utilities agencies to pass the savings on to the consumer, let's cross our fingers that the President's initiatives will eventually have the same effect at the pump.
by Marissa Borja, KUAM News
posted by awesome at 1:34 AM
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