U.S. Senator Richard Blumenthal spent part of yesterday at Citgo Dairy and Energy Stop in Danbury. He was there to discuss 3 things that can be done now to bring gas prices down. He says drilling should be increased on federal land.
He says 93 million acres of federal lands have permits for oil drilling but only a quarter of that is being used. Blumenthal adds that the product should be kept in the U-S because the land belongs to taxpayers.
Station owner Barry Connell says replacement cost is like Russian Roulette.
Blumenthal says 80 percent of contracts for future delivery are bought by people who never take delivery, and that speculation addw 56-cents per gallon of gasoline. In addition to curbing speculation, he wants to end hidden giveaways to oil companies.
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