1.  Why did President Bush order a temporary suspension of environmental rules for gasoline yesterday?

2.  What else did the President do about the high gas prices, as mentioned in paragraph 1?

3.  What two steps does President Bush say oil companies must take to ease gas prices?  How will he try to force them to do so? (paragraph 2)

4.  The Strategic Petroleum Reserve is a U.S. Government complex of four sites created in deep underground salt caverns along the Texas and Louisiana Gulf Coast that hold emergency supplies of crude oil.
What decision has President Bush made about the Strategic Petroleum Reserve to attempt to boost market supplies of oil? (5)
(For more information on the Strategic Petroleum Reserve, go to the U.S. Dept. of Energy website here.)

5.  Re-read paragraph 8.  Who does Democrat Rep. Nancy Pelosi imply is responsible for high gas prices?  What reason does she give for her insinuation?  Do you agree?  Explain your answer.

6.  What short-term solution did Democrat Sen. Robert Menendez offer to ease the high gas prices?
What long-term solution did Republican Rep. John Boehner call for?  With which do you agree, one, both, or neither?  Why?

7.  Which of the following reasons (one or more) do you think is responsible for high gas prices?  Explain your answer.

a) unfair conduct by the world's major oil companies; price-gouging by the oil companies due to their greed

b) lowered oil supplies as a result of:

• Hurricanes Katrina & Rita which shut-down some U.S. offshore oil drilling facilites
• threats by Iran to cut oil exports to the U.S.
• the lack of oil refineries in the U.S. because of strict EPA regulations and high taxes

c) increased demand for oil as a result of:

• increased travel in the spring and summer months
• greater use of gas and oil in China and India as those economies improve and their citizens buy cars