Spokane7
68°
May 30, 2011 in City
Cantwell sums up gas hike’s cost
SEATTLE – U.S. Sen. Maria Cantwell says Washington state drivers will spend an estimated $672 million more for gas this summer than they did last summer.
The Democrat’s office conducted an analysis showing that each driver in the state can expect to pay $150 more between Memorial Day and Labor Day. She says gas prices are 93 cents higher on average since Memorial Day last year.
Cantwell says excessive speculation in oil markets is largely to blame. She’s calling on the U.S. Commodity Futures Trading Commission to rein in that speculation, and she compares what’s happening now to the way Enron’s market manipulation affected energy prices in the Northwest.
She notes that when people take fewer trips because of high gas prices, they buy fewer meals at restaurants and rent fewer hotel rooms, and that hurts the economy.
© Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
1992 murder trial begins against sex offender 
DickAdams on May 30 at 8:35 a.m.
Senator Cantwell, finally turned into a political wind bag. Cantwell, for several years now gives lip service to her constituents hoping they believe her digested food through the bull.
Marksman on May 30 at 8:49 a.m.
Unintended consequences escape the Democrats grasp. Years of restricting domestic oil exploration and development and support of economic policies dooming Americans to dependence on government programs are coming home to roost. Nice legacy Demos!
Thayne on May 30 at 11:23 p.m.
Right Marksman, it’s all the dems fault. The fact that Bush completely zeroed the budget for federal alternative fuel research the first week in office (after stealing the election)during his first term. This has had no impact on our situation today! I wonder how much farther ahead we would be if they had increased the budget. The republitards have done NOTHING to help. They insist on giving the oil companies tax breaks and monetary incentives.
connemara on May 25 at 10:37 a.m.
Bush2 Wars have cost us over 3 TRILLION DOLLARS in iraq alone YTD and more to come in over 2 TRILLION more with afgan endless war and our continue present in Iraq forever.We also have long term cost of VA,AID,CIA/FBI/DOD of projected of another ONE TRILLION Dollars and the Federal taxes on highier OIL/Gas helps to bring in the bucks for the Bush2 support of his muslum brothers and REPUB’s defense contract friends.Ms Cantwell is partly correct as the speculations markets is really wild now they can put up various derivatives instruments since 1999 when Repub’s allow to wipe out the GLASSLEY ACT which brought down this economy along with THE WARS!One should follow Federal legislation the last 40 years-it tell the whole story of how the REPUB’s destoyed the middle classes,their COL/jobs/wages and benefits and ship over 20 MILLION JOBS overseas for cheap labor and less taxes!