WASHINGTON -- Record high prices for gasoline probably won't drop any lower before the November election, Republican John McCain said Wednesday.
"I don't think it's going much lower, and it could go higher," McCain said on NBC's "Today Show." "I don't think so, not when you've got a finite supply, basically, and a cartel controlling it."
McCain said oil companies should "absolutely" return some profits to consumers. "And they should be embarking on research and development that will pay off in reducing our dependence on foreign oil," he said.
"The point is, oil companies have got to be more participatory in alternate energy, in sharing their profits in a variety of ways, and there is very strong and justifiable emotion about their profits," McCain said.
© 2008 Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.
|
