September 02, 2005
September 2, 2005
LANSING – In the wake of Hurricane Katrina and a summer of astronomical increases in the price of gasoline, Governor Jennifer M. Granholm and four other governors today called on President George W. Bush to act decisively in preventing oil companies from raking in profits at the expense of American consumers during this time of crisis.
“As the citizens of our nation band together to assist those in need, oil companies should be our partners as the nation tries to recover, not profit at the expense of the nation,” Granholm and the governors wrote in a letter to the president. “We urge you to move swiftly to cap corporate oil profits and strictly prosecute any violation of federal anti-trust laws – and take all other possible actions to protect Americans against profiteering.”
From April to June, Exxon Mobil’s net income rose 32 percent to $7.64 billion dollars, and Royal Dutch Shell announced a 34 percent increase in second quarter profits alone. The governors noted that before Hurricane Katrina interrupted the nation’s oil supply, consumers were paying too much for gasoline. With the storms impact, the governors fear corporate profits will continue to rise along with the price per gallon of motor fuel.
In addition to her request of the President, Governor Granholm has taken additional action here at home to protect consumers in Michigan from gouging at the pump. She recently put additional gas station inspectors on the street to keep a watchful eye on accuracy and quality issues at the pump. She issued executive orders relieving trucking restrictions on the transport of fuel to ensure that gas can be transported to high-need areas across the state, as necessary. The Governor is also forwarding hundreds of complaints of gas gouging to the Michigan Attorney General’s Office, which has jurisdiction over gouging investigations.
New Jersey Governor Richard J. Codey, Pennsylvania Governor Edward Rendell, Delaware Governor Ruth Ann Minner and Wisconsin Governor Jim Doyle joined Governor Granholm in signing the formal request to the President.
