Gas hits $2.50; expect worse this summer (Lawsuit Fears Fuel Shortages of Supply)

msn ^ | 4/1/06 | ASS press

[Recovering_Democrat]

The price of gasoline could rise this summer because of supply problems from the phaseout of a fuel additive found to contaminate groundwater, government and industry officials said at a Senate hearing Wednesday.

The additive, methyl tertiary butyl ether, or MTBE, accounts for about 10% of the volume of every gallon of gasoline with which it is blended -- or 1.4% of the nationwide supply -- but refiners plan to stop using it next month because Congress refused to grant them protection from lawsuits.

[Recovering_Democrat]

I remember watching part of the debate on this in the Senate. The Congress refused to work with the industry to keep sleazeball trial lawyers like John Edwards from suing them...so the refiners are cutting out the MTBE.

Result? Higher gas prices.

But we can't drill in ANWR or off the Florida coast.

Pure idiocy.

[OldFriend]

$2.39 here in NJ. It's the damned regulations that prevent one gasoline being used all across the country that causes all this nonsense.

[ElkGroveDan]

$2.50? I wish. mid-grade is $2.79 here in Nor Cal.

[Question_Assumptions]

I care more about getting the MBTE out of the gas than the price. Seriously. That stuff is nasty.

[Thebaddog]

As I recall, it was the feds that mandated the use of the additive in the first place.

[groanup]

Pure idiocy.

I'll second that. The Wall St. Journal had a fantastic editorial about this last week.

Next time you see a tort lawyer thank him for the high gas prices.

[NormsRevenge]

The rising prices of energy should make a lot of voters think twice about the obstructionist dems when they vote.. but for many , I doubt it will much difference at all. Sad..

[Mike Darancette]

$2.50? I pray for that $2.79 where I live.

[Dog Gone]

MTBE comprises 10% of our fuel. We'll be able to replace 3% with ethanol this summer.

There is NO way a 7% reduction in gasoline availability will not result in significant price increases and actual shortages in some areas.

[COEXERJ145]

Another nice .15 cents jump just this week. Guess we'll be over $4.00 by the end of the summer.

[Dane]

Thank your local neighborhood trial lawyer.

[Balding_Eagle]

The Congress refused to work with the industry to keep sleazeball trial lawyers like John Edwards from suing them...so the refiners are cutting out the MTBE.

Congress mandated MTBE, over the loud objections of scientists. Even a 8th grade science teacher could have predicted the mass poisoning of wells that has occurred.

It's a repeat of Love Canal, where the city of Love Canal fought Hooker Chemical in court when Hooker objected to the city installing the poison chemical distribution system that eventually poisoned the ground all over Love Canal.

Hooker paid the price (bankruptcy) for losing that court fight.

[squidward]

I told my wife the same thing. Thursday the "cheap" gas was 2.75 in my town but has since dropped to 2.67. When the Hurricane season is here, I think we will beg for prices to be back down to $3.00 per gallon.

[PCBMan]

"Another nice .15 cents jump just this week."

Must be nice. It went from $2.45 to $2.75 in two days here in Michigan.

[cripplecreek]

$2.50 isn't anything to get excited about any more.

[COEXERJ145]

We went 2.45 to 2.60. I'm sure another .10-.15 is coming next week.

[ozaukeemom]

$2.65 here in SE Wisconsin. :(

[jocko12]

The totaly worthless 100 (U S SENATE)has voted again.

[Jasper]

"But we can't drill in ANWR or off the Florida coast. Pure idiocy."

You're right.

Our "betters" will only be satisfied when we "proles" are cruising around in one of these.

/jasper

[Ruy Dias de Bivar]

And 50 years ago the cost of a gallon was .12 cents a gallon. Minimum wage here was .25 cents an hour.

Today gas is $2.50 a gallon.
Minimum wage here about $7.00 an hour.

Gas is still cheaper today than in 1956.


SO QUITCHURBITCHIN!