Profits, Prices Spur Oil Outrage
The Washington Post writes here: Exxon Mobil Corp. reported $8.4 billion in first-quarter profit yesterday, as members of Congress outraged over high gasoline prices hastened to propose measures that would boost taxes on oil firms, open new areas to drilling and provide rebates to taxpayers but would not necessarily alter prices at the pumps.
Meanwhile CNN reports here: President Bush on Thursday said he wants to raise fuel-efficiency standards on automobiles, as members of both parties jockeyed for political position on the issue of rising gas prices.