Posted at 12:47 p.m., Thursday, March 23, 2006
Bills that would suspend gas cap OK'd
By Treena Shapiro
Advertiser Government Writer
While House members were expected to support a suspension and eventual repeal, Sen. Ron Menor's recommendation for a compromise with the House came as a shock.
Reading from a written statement, Menor, one of the gas cap's chief advocates, said he had misgivings about the House position, but added:
"I am not opposed to the concepts of transparency, monitoring and even testing the proposition that the oil companies would refrain from their earlier price-gouging practices if only they were monitored in a manner in which their pricing behavior would be conspicuous to the news media and the public."
Menor's proposals included:
i Immediate and indefinite suspension of the wholesale price cap;
i Reformulating the gas cap into a fair price level;
i Reinstatement of the gas cap for two weeks if the wholesale price of gas goes above the fair price level for two consecutive weeks.