Fill 'er Up

A dump truck caravan arrived at the U.S. Capitol to protest high gas prices. Also on Monday, oil hit a new record near $120 a barrel. Analysts expect big profits when Exxon Mobil and BP this week report first-quarter earnings. "Big Oil's profit juggernaut shows few signs of slowing, despite a weakening economy in the world's biggest fossil-fuel guzzler, the U.S.," is how The Wall Street Journal set the stage. In Vermont, fuel surcharges are becoming increasingly common as gas and diesel prices

A dump truck caravan arrived at the U.S. Capitol to protest high gas prices. Also on Monday, oil hit a new record near $120 a barrel. Analysts expect big profits when Exxon Mobil and BP this week report first-quarter earnings. "Big Oil's profit juggernaut shows few signs of slowing, despite a weakening economy in the world's biggest fossil-fuel guzzler, the U.S.," is how The Wall Street Journal set the stage. In Vermont, fuel surcharges are becoming increasingly common as gas and diesel prices skyrocket, The Burlington Free Press reported. Taxi companies have increased fuel surcharges and the Lake Champlain Transportation Co., which operates regular ferry service on Lake Champlain, will introduce its own surcharge May 1. Senator Bernie Sanders - calling record-high fuel costs "a national crisis" - has outlined several ideas to help get fuel prices under control.

Sanders would close the so-called "Enron loophole" to minimize speculative buying of oil, stop adding oil to the strategic petroleum reserve, and file a complaint with the World Trade Organization to break up of the Organization of Petroleum Exporting Countries, the international price-fixing cartel. He also is considering a windfall profits tax on the oil and gas industry, and giving the president authority to impose fuel price caps in the event of market manipulation. "The solution is complicated. There is not one magic bullet, but we have a national emergency and we have to address it," Sanders said.

To read the Free Press article, click here.