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FUEL COST DEBATES * USA - House vote targets OPEC
The U.S. House of Representatives voted on Tuesday to let the Justice Department pursue antitrust and price-fixing cases against OPEC members, including Saudi Arabia, Venezuela and Iran
Washington,DC,USA -Land Line Magazine -May 22, 2008: -- ... The bill passed by a 324-to-84 margin. Even if the Senate approves, President Bush is expected to veto the measure... A White House press release stated that the measure would discourage investment in the U.S. economy and possibly drive fuel prices higher... However, Rep. Steve Kagen, D-WI, who sponsored the bill, said it’s time to stand up to an oil cartel that openly manipulates production to influence prices... The United States imports nearly 6 million barrels of crude oil per day from Saudi Arabia and other OPEC countries. American consumers remain at the mercy of OPEC nations in how much they pay to fill up their tanks, Kagen said...
* Michigan Republicans offer sales tax holiday on fuel purchases
Mich,USA -Land Line Magazine, by Keith Goble -May 22, 2008: -- Michigan is one of only nine states that collect a general sales tax on fuel purchases. With prices at the pump inching closer to the $5 per gallon mark in the state, Republicans at the statehouse say they have a plan to help consumers... Two House Republicans unveiled an initiative to temporarily eliminate the 6 percent sales tax on fuel. The state’s fuel excise tax would not be affected... A suspension of the sales tax would cost the state as much as $300 million through Labor Day. How a tax break or suspension would affect the status of the International Fuel Tax Agreement in Michigan is uncertain...
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