Bush Aims to Rein in Gas Costs

According to a report in today's Wall Street Journal, President Bush will respond to rising gasoline prices with a series of measures aimed at curbing possible market manipulations. This announcement comes one day after the top two Republicans on Capitol Hill asked Bush to order investigations of potential price gouging in the oil-supply chain and in the futures and derivatives market.

Bush's plans include instructing the Justice Department, the Federal Trade Commission and the Energy Department to vigorously enforce laws relating to price gouging. And the Attorney General and FTC chairman will send a joint letter to all 50 state attorneys general to ask them to use their broad investigative powers to pursue illegal gouging, according to a senior administration official. They also will offer assistance to states that need it.

The Wall Street Journal says these steps are among several short-term measures to address energy worries that Bush is likely to discuss as his administration confronts yet another second-term political flare-up.