Arkansas congressmen seek hearing on diesel prices
Last updated Thursday, April 3, 2008 5:55 PM CDT in News
By The Morning News
WASHINGTON - The four House members from Arkansas on Thursday called for congressional hearings into the high cost of diesel fuel that is harming top trucking firms in the state.
The written request to top Democrats on the House Energy and Commerce Committee comes as diesel prices hover near a record $4 per gallon.
The prices adversely effect the U.S. economy, said 1st District Rep. Marion Berry, D-Gillett, 2nd District Rep. Vic Snyder, D-Little Rock, 3rd District Rep. John Boozman, R-Rogers, and 4th District Rep. Mike Ross, D-Prescott.
High fuel prices are forcing trucking companies out of business, lawmakers said. The group expects the high cost of shipping goods to be passed along to consumers.
"As businesses across the country are forced to absorb the cost of surging diesel prices, it can be expected that the burden will ultimately fall on the consumer," the lawmakers wrote. " ... It is imperative that Congress examine the ripple effects caused by record high diesel fuel prices."
The delegation's action follows a March decision by the Arkansas Trucking Association to press for congressional hearings on the impact of high diesel prices.
The trucking association represents 84,000 Arkansans and more than 300 corporations. They include J.B. Hunt Transport Services, ABF Freight System and USA Truck.
The association maintains that diesel prices continue to increase despite ample supply and no significant rise in demand.
Lawmakers said they want an investigation into the cause of high-priced diesel fuel.
The letter was sent to Rep. John Dingell, D-Mich., the chairman of the Energy and Commerce Committee; Rep. Bart Stupak, D-Mich., chairman of an investigations subcommittee on that panel; House Speaker Nancy Pelosi, D-Calif.; and House Minority Leader John Boehner, R-Ohio.
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cybertech wrote on Apr 4, 2008 4:15 PM:
A good majority of whom were living paycheck to paycheck well before the cost of fuel rose over the $3 per gallon mark.
A good example is my father is a home care provider who looks after 2 patients 7 days a week and his fuel expense per month is no less than $400. Fuel takes a 20% bite from his income and this should not be, even with the tax breaks.
In fact I am willing to wager that Fuel takes just about anywhere from a 10% to 20% bite out of everyones income and for those working for minimum wage thats a pretty big chunk.
I think all the Oil companies need to be investigated and indicted for excessive profiteering and extortion.
Its one thing to make a profit but when it crosses the line into excessive profiteering and extortion thats a whole other ball game.
When any company is raking in profits over 300%, well I would call that excessive even in a capitalist society.
I could indict other groups in this that are also responsible for driving up oil prices, but it would be a novel, but I will tell you that it has less to do with Bush and Co. and more to do with certain other special interest groups, and the oil companies in general. "
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cybertech wrote on Apr 4, 2008 3:59 PM:
However the rising cost of fuel in general has become outrageous and I am here to tell you that it has very little to do with the war in Iraq, or supply and demand, and a lot more to do with the gearing towards alternative fuels.
The oil companies are most likely viewing this as a threat to their profits so they are stifling production to keep the costs of oil per barrel up to rake in as much profit as possible before alternative fuels begin to make their appearance nationwide.
Thing is there is not one good reason that the cost of oil should be more than $75 per barrel, in fact it shouldnt even be that high. The fact that it is sitting at or above $100 a barrel is outrageous!
This, overall is hurting the economy, and running not only businesses into the poor house, but the general consumers that rely on fuel just to get them back and forth to work.
Contd................ "