(Washington, D.C.)–Congressman Jim Langevin today called upon the Administration to immediately take responsible measures to curb escalating gasoline prices for Rhode Islanders that, if not addressed, threaten to hamper Rhode Island's tourism industry this summer.

 Langevin is seeking an increase in production by OPEC, an increase in stock for domestic oil companies and additional gasoline reserves for use during periods of exceptionally high cost.

 “With the price of crude oil at an all-time high, there appears to be no relief in sight,” said Langevin.  “In fact, a recent survey shows that the price of gasoline in Rhode Island skyrocketed 15 cents in one week alone.  Our response must be immediate if we are to salvage this summer’s tourism season.  We must look at all available options, but whatever we do, we must guarantee that drivers in Rhode Island and the rest of the country will pay less when they fill up.”

 A number of factors are contributing to the high costs of energy.  High global demand, particularly in growing economies such as India and China, necessitate an increase in production by OPEC nations.  Additionally, our gasoline inventories are at dangerously low levels, and any further disruptions in supply or refinement could have devastating effects on our nation's economy.

In response to the increased burdens suffered by Rhode Islanders, Langevin has urged the Administration to encourage OPEC nations to make appropriate changes in their oil supply to meet U.S. and world demand.  Langevin stated that it is imperative that the Administration work with domestic oil companies to boost their stocks. 

 In a letter to Energy Secretary Spencer Abraham, Langevin wrote:

I am writing to express my deep concern for rising gas prices.  Today, the residents of Rhode Island are paying an average of $2.06 per gallon, which is a record high in the state and above the national average.  Thousands of my constituents depend on their automobiles to get to their jobs each day and simply cannot afford the drastic increase in gas prices that they are being forced to pay.  Additionally, Rhode Island's economy relies heavily on summer tourism, and prohibitive travel costs due to high gas prices could have a disastrous effect on our communities.

Langevin called upon the Secretary to find ways to increase our nation's gasoline reserves.  Just as the Strategic Petroleum Reserve was created to provide fuel to the nation in the event of an emergency, Langevin believes we should establish another reserve to act as a market stabilizer in the event of sharp increases in gasoline prices. 

The region's Northeast Home Heating Oil Reserve has proven to be an important safeguard to soften the impact of significant price spikes in fuel oil and may serve as an appropriate model to emulate.  In the meantime, Langevin urged the United States to suspend existing shipments to the Strategic Petroleum Reserve, which has reached approximately 95% of its total capacity, and redirect that fuel into refineries for gasoline production. 

Finally, Langevin called for increased energy efficiency and the development of alternative fuels to reduce our dependency on oil in the long-term.  A slight increase in the fuel efficiency of automobiles, light trucks, and sport utility vehicles could drastically reduce our nation's consumption of oil.  Additionally, energy efficiency programs have helped Americans conserve power, and the technologies developed by these programs have yielded more than $100 billion in returns to the U.S. economy. 

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