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Washington, D.C. – Alarmed by the recent spike in gasoline prices, Congressman Dale E. Kildee (D-MI) urged President Bush to address the gasoline crisis immediately. Kildee called on the Bush Administration to reconsider opening the strategic petroleum reserves to increase the fuel supply, which would help reduce gasoline prices. Yesterday, President Bush rejected calls to open the petroleum reserves to help alleviate the gasoline crisis facing millions of Americans.
“The Bush Administration has allowed oil companies to continue to enjoy enormous profits, while ordinary American citizens are bearing the burden of escalating gasoline prices,” said Kildee. “The recent increase in gas prices has had a devastating impact on the budgets of millions of American families. It is time for Bush Administration to hold gasoline companies and oil refiners accountable for price gouging at the pump.”
Since President Bush took office, the average price of gasoline has risen approximately 50¢ per gallon. Americans are now paying 30% more for regular gasoline than a year ago. The national average for the price of gasoline is now well over $2 per gallon, which translates into an extra $500 a year for the average American household. The drastic increase in gasoline prices has forced American families and small businesses to make difficult choices and adjust budgets in order to accommodate travel expenditures.
The Bush Administration has failed to respond to the growing energy concerns of the average American citizen. By refusing to regulate the gasoline industry and oil-refinery mergers, the Administration has done nothing to eliminate price gouging at the pump. In addition, the Administration is unwilling to confront the Organization of Petroleum Exporting Countries about the drastic decreases in oil production. By demonstrating their unwillingness to intervene, it is evident that the Administration is inappropriately influenced by the petroleum industry. In 2000, forty-one of President Bush’s largest contributors, those who raised $100,000 for his campaign, were from the oil and gas industry. The President must be willing to stand up against his friends in the oil industry to protect and fight for the consumer.
Although the United States must become less dependent upon foreign oil, we must not permit oil refiners to price gouge at the expensive of the average American. Congressman Kildee encourages the Bush Administration to investigate the pricing practices of the major oil companies and to explore the possibility of opening up the strategic petroleum reserves to provide immediate relief to American families. We must continue to work together to protect Americans from big oil companies who inflate the price of gasoline in order to produce record profits. |
