Top Democrats Weigh in on Rising Gas Prices, Senate Energy Committee to Hold Hearing on DOE Loan Guarantee Program

House Minority Leader Nancy Pelosi said unscrupulous Wall Street investors have artificially inflated prices at the pump, which are climbing toward $4 per gallon.  Pelosi states that that "wall street profiteering, not oil shortages, is the cause of the price spike" and called on Congress to take "strong action" to rein in the allegedly excessive speculation.

President Obama will address this very issue today at a high-stakes address at the University of Miami.  The speech will tout his Administration's efforts to expand oil and gas production while also speaking to the need for fuel-efficiency and investments in alternative energy. President will  also concede that there's little to nothing he can do right now to stem the current rise. 

NDN President Simon Rosenberg has an interesting take on the rising gas prices by linking this to the larger issue of middle eastern policy and the economy.  

The Senate Energy and Natural Resources Committee will hold an oversight hearing on the Energy Department's Loan Guarantee Program. Republican Lisa Murkowsk stated  "I believe there is a role for the federal government in developing new energy technologies, but I've come to believe that there are clearly implementation flaws in the loan program that must be addressed." The hearing is scheduled for March 13.