Tense fuel market highlights need to end SUV tax breaks

05/24/2004
By Bob Tippee, EditorSteadily rising gasoline prices in an election year will intensify pressure on politicians to curb consumption.Indeed, persistently strong demand is a big reason futures prices on the New York Mercantile Exchange surged through a series of record high closings this week, most recently $1.4005/gal for the June contract on May 13.Growth in gasoline use is occurring while inventories, while rising lately, remain abnormally low and as prices for crude oil rise.Wayward lawmakers think they should act on consumption.One version of the omnibus energy bill now being dismembered in Congress called for executive-branch action to reduce oil consumption by 1 million b/d from proj...
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