Congressman again calls for investigation of oil companies

Iowa Congressman Leonard Boswell is renewing his call for an investigation of Big Oil. Boswell suspects high gasoline prices are harvesting exorbitant profits. He says there are some extremely high profits among the oil companies.Boswell says, for example, profits for the Phillips Petroleum company were up 96 percent in the first quarter.President Bush is unveiling his long-term plan for the nation’s energy needs this morning in St. Paul, Minnesota. Bush is proposing tax credits for fuel-efficient hybrid vehicles that run on a combination of electricity and gas. He’s also calling for new power plants and drilling for oil in the Arctic Wildlife Refuge. Boswell, a democrat from Davis City, says he wants to work with the Republican President to ensure America’s energy independence. He says though, he is disappointed that the President’s plan was written in secrecy.Boswell suggests it’s time for a national energy summit to come up with a national energy policy.