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Tuesday, July 15, 2008

Udall's Speculator Scrutiny

Filed under Senate RaceFiled under Television Ad
Posted at 1:17 PM
Click here to watch "Right Now."

New Mexico’s Senate candidates weighed in over the weekend on who’s to blame for soaring gasoline prices. Rep. Steve Pearce (R) argued the solution lies with domestic drilling. Democratic Rep. Tom Udall’s finger was pointed at oil speculators, a theme he carried over into an ad released today. "Right Now" (subscription) outlines Udall’s plan to lower prices right away.

"Is there anything we can do right now to lower gas prices?" Udall asks in the ad, which shows him at a gas station. "First, stop hedge fund speculators from driving up the price of oil." He adds that he would encourage oil companies to build clean refineries in the U.S., or, if they don't agree to do that, "take away their tax breaks.”