01:00 AM EDT on Tuesday, July 1, 2008 By Alisha A. Pina and Timothy C. Barmann Journal Staff Writers EAST PROVIDENCE — Consumers have to distinguish between “a red herring” and “fake” solutions for reducing oil and gasoline prices from those that will produce “real” and “tangible” results for struggling residents, U.S. Rep. Patrick Kennedy said yesterday. Speaking in a cafeteria at East Providence’s Senior Center yesterday, he said Republicans believe drilling more in the United States will alleviate skyrocketing prices, but Kennedy said he thinks their proposals won’t do much. He said they also fail to get to the core of the problem: Wall Street investment and financial firms are setting and driving the cost of oil up from what it actually costs, $75 per barrel, to today’s cost, $143 per barrel. Kennedy said Congress hopes...
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