NOON 24-HOUR NEWSWATCH
Noon Edition of 24-Hour Newswatch
Posted: Thursday, 09 October 2008 3:56PM
Pendleton Pre-files Gas Legislation
Tom Rogers Reporting
STATE SENATOR JOEY PENDLETON PRE-FILED A BILL THURSDAY MORNING THAT THE HOPKINSVILLE DEMOCRAT SAYS COULD CAUSE THE PRICE OF GASOLINE AT THE PUMPS TO GO DOWN. PENDLETON SAYS THE BILL WILL PUT ETHANOL RETAILERS IN KENTUCKY ON A LEVEL PLAYING FIELD, AS IT WOULD REQUIRE ALL TERMINALS, NOT REQUIRING REFORMULATED GASOLINE, TO OFFER RAW GASOLINE THAT CAN BE BLENDED BY THE LOCAL SUPPLIER.
PENDLETON, A MEMBER OF THE AGRICULTURE AND NATURAL RESOURCES COMMITTEE, POINTED OUT THAT IT HAS WORKED FOR MISSOURI, WHICH HAS THE LOWEST AVERAGE RETAIL GASOLINE PRICE IN THE UNITED STATES. THE SENATOR NOTES THAT GASOLINE IN MISSOURI IS OFTEN 10 CENTS OR MORE PER GALLON BELOW KENTUCKY’S COST AND CLAIMS THAT BECAUSE WE DO NOT HAVE A SIMILAR LAW IN KENTUCKY, EACH SUPPLIER IS TRYING TO KEEP THE EXTRA MARGIN FROM THE ETHANOL BLEND SO IT IS NOT BEING PASSED TO THE RETAIL MARKET.
PENDLETON ALSO SAYS THAT THE LEGISLATION WILL MEAN PETROLEUM RETAILERS WILL BE ABLE TO FAIRLY COMPETE WITH THE MAJOR COMPANIES AND THE COMPETITION CREATED BY THIS LAW WILL ENSURE THE CONSUMER WILL SAVE AND WILL CONTINUE TO HAVE A WIDE CHOICE OF MERCHANTS. THE BILL WILL BE CONSIDERED DURING THE 2009 LEGISLATIVE SESSION, WHICH CONVENES IN JANUARY.
AT WORK BUNCH Join the "At Work Bunch"
and have special chances
to win great stuff.
Email us here.
