Oil, Big Problem!

The government projected on Thursday that gasoline prices would surge even higher in coming weeks and remain high through the summer, a forecast underscoring both the economic effect of the sharp rise in energy costs and growing political risks for President Bush.
The Energy Information Administration, an arm of the Energy Department, said it expected the price of unleaded regular gasoline to hit a peak national average of $2.35 a gallon in May and to average $2.28 from April through September. Last week the average price was $2.22.
With crude oil prices at record highs in recent weeks and still close to them, the White House is casting itself as immersed in addressing the problem. It is using the increase in oil and gasoline prices to raise the pressure on Congress to pass Mr. Bush's stalled energy bill, which the administration says would encourage domestic oil exploration and production, support alternative energy sources and improve conservation.