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Conrad's Plan on Gas Prices
 Source: ClipSyndicate
It seems like everyone is talking about rising Gas Pricescongress prepares to work on a plan to give you relief at the pump. Senator Kent Conrad says it's what he's heard again and again as he's crossed the state the past weekgas prices are too high. This afternoon the Conrad hosts a hearing on skyrocketing fuel prices. He introduces a five point plan that focuses taking action now. Sen. Kent Conrad:The two key elements of the plan are to expand domestic production by opening up the gulf and a series of other steps, and number two to rein in speculation because as the head of Northwest Airlines told me their economists inform them them that up to a third of the price of oil is due to speculation. The good news is North Dakota will eventually be able to help increase domestic production of oil. Lynn Helms is the director of the state's department of mineral resources. He says it will take some time to fully develop oil resources in western North Dakota. Lynn Helms:There's good news and bad news in that. Very good news for North Dakota because we'll have lots of activity for many, many years. The bad news is we'd like to be able to bring that production on this year and really have a huge impact but it's gonna take us a decade to have the kind of impact we want to have on petroleum production nationwide. According to Conrad's officesince June 2007, Gasoline Prices have increased by $1 per gallon, while diesel prices have gone from $2.91 to more than $4.65 per gallon in North Dakota.
Rating: (0 ratings) Views: 26 Added: Jul 3, 2008
Category: News
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