Posted 6/6/01 Welstone, Dayton visit St. Paul to study impact of high gas prices By T.W. Budig ECM capitol reporter Senators Paul Wellstone and Mark Dayton held a hearing at the Capitol June 4 to investigate the impact of higher gasoline prices on consumers. The two Democrats placed the onus for lowering fuel prices on President Bush. Wellstone said there needed to be some ìserious jawboningî with the oil cartel OPEC to encourage its members to increase oil production. ìWe have every right to pressure OPEC to increase production,î he said. Though falling just short of accusing American oil companies of price gouging, Wellstone said the five largest oil companies in the first three months of this year have recorded a 40 percent increase in profit. He called for a national goal of achieving a three percent market share for renewable fuels ó fuels derived from agricultural crops ó within the next ten years. But Dayton explained that immediate action was required too. ìIn the short-term the only answer is for the president to step in,î said Dayton. The senators took testimony from half a dozen groups concerning the impact of rising fuel prices at the pumps. Fred Corrigan, of the Minnesota Transportation Alliance, said the state needs to make maximum use its rail and waterway intermodal connections. He warned of the huge waste of fuel associated with traffic congestion. Millions and millions of gallons of gasoline are wasted in Minnesota each year by motorists snarled in traffic, he explained. John Hausladen, president of the Minnesota Truckers Association, said the profit margin for trucking firms is about two percent so rising fuel costs have a profound affect on truckers. ìMinnesota runs on diesel,î he said. Some 88 percent of all freight hauled in the state is hauled by truck, he said. And over the past year and a half, the price of diesel has increased some 56 percent at the pump, said Hausladen. Darron Van Helden, of the AAA, said his organization did not place sole blame for the rising fuel prices on OPEC. He characterized the recent fuel price hikes as ìself inflicted.î In a two car family, recent gas price increase translate into about $800 of additional cost a year, said Van Helden. One thing that needs to be done is to find a national gas standard, he said. There are some 14 different standards across the United States, he said. ©Post Review