Reply #26: Bush orders probe into gas prices [View All]

[Haole Girl]

Bush orders probe into gas prices

April 25, 2006

BY NEDRA PICKLER ASSOCIATED PRESS

WASHINGTON-- President Bush, under pressure to do something about gasoline prices that are expected to stay high through the summer, has ordered an investigation into possible cheating in the markets.

During the last few days, Bush asked his Energy and Justice departments to open inquiries into whether the price of gasoline has been illegally manipulated, said White House press secretary Scott McClellan. Bush planned to announce the action Tuesday during a speech in Washington.

It's unclear what impact, if any, Bush's investigation would have on prices that are near $3 a gallon. Asked if Bush had any reason to suspect market manipulation, McClellan responded, "Well, gas prices are high right now, and that's why you want to make sure there's not."

...."I think you'll hear the president say very clearly that he will not tolerate price gouging," McClellan said.