The Bush administration had said previously that there was little to be done in the short term about gasoline prices that have hit record highs and are expected to go still higher during the coming vacation season. The proposal is expected to emphasize steps to increase production of coal, oil and nuclear energy supplies and also include conservation measures. Bush's plan, to be rolled out Thursday, will have a ripple effect, Fleischer said. Take a look at spot markets first of all.
Spot markets react to presumptions about future supply.
Bush administration officials also have said the long-term energy strategy would do little to ease California's electricity crisis. Democrats have responded with charges that the Bush administration should do more to provide consumers with immediate relief. A Democratic alternative list of energy principles unveiled on Tuesday calls for tapping U.S. emergency petroleum stockpiles, electricity price controls in the West and pressuring OPEC to pump more oil, all steps the Bush administration has resisted or viewed warily. The Democratic plan also includes several measures to promote energy conservation and alternative sources such as solar power. Fleischer on Wednesday highlighted Bush's proposals for conservation and alternative energy, saying that these were areas where Bush could work with the Democrats.