Offered
by
To memorialize the President of the United States and the United States Congress to take prompt action to provide relief from high gas prices and to call on the Governor of the State of Michigan to investigate potential effects of state government policies that may add to the price of gasoline in Michigan. The resolution urges the federal government to pass laws to mandate that companies supplying gasoline and diesel fuel to consumers earn lower profits.
Substitute offered
by
To adopt a version of the resolution that does not urge the federal government to pass laws to require lower profits for supplying gasoline and diesel fuel to consumers. The substitute also criticizes Gov. Jennifer Granholm on the issue of inspecting gas station pumps for accuracy, and urges her to sell stock in oil companies held by state pension funds if she "feels have made unseemly profits." Reportedly, as of the end of 2005 At the end of 2005 state pension funds owned more than 13 million shares of the oil company's stock with a market value of more than $846 million, and have boosted the funds value by more than $79 million since then.
The substitute passed 31 to 6 (details)
Adopted in the Senate 35 to 2 (details)
To urge the federal government "take prompt action to provide relief from high gas prices" but not to pass laws that make supplying oil to consumers less profitable.
