S.Res. 330Senate108th Congress (2003-2005)In Committee

A resolution expressing the sense of the Senate that the President should communicate to the members of the Organization of Petroleum Exporting Countries ('OPEC') cartel and non-OPEC countries that participate in the cartel of crude oil producing countries the position of the United States in favor of increasing world crude oil supplies so as to achieve stable crude oil prices.

Sponsored by Ron WydenSen. Ron Wyden (D-OR)
Introduced April 2, 2004

Legislative Activity

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3 earlier actions
SenateIntro Referral Latest Action

Sponsor introductory remarks on measure. (CR S4855)

May 5, 2004

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SenateIntro Referral

Introduced in Senate

April 2, 2004

SenateIntro Referral

Referred to the Committee on Foreign Relations. (text of measure as introduced: CR S3605-3606)

April 2, 2004

SenateIntro Referral

Sponsor introductory remarks on measure. (CR S3871-3873)

April 7, 2004

SenateIntro Referral

Sponsor introductory remarks on measure. (CR S4855)

May 5, 2004

Floor Debate

5 members

What members said about S.Res. 330 on the floor

2 Republicans3 Democrats
Ron Wyden
Sen. Ron WydenD-OR · Apr 7, 2004

Mr. President, in the last few days, the Foreign Minister of Saudi Arabia has said--and it has been widely reported by our country's two largest wire services--that Saudi Arabia was not contacted by…

Ron Wyden
Sen. Ron WydenD-OR · Apr 2, 2004

Mr. President, the Reuters news service is reporting that Saudi Arabia, and their Foreign Minister specifically, have said in the last day or so they have not been contacted by the Bush…

Russell D. Feingold
Sen. Russell D. FeingoldD-WI · Apr 22, 2004

Mr. President, I rise to express my support for S. Res. 330, which expresses the sense of the Senate that the President should communicate to the members of the Organization of Petroleum Exporting…

Kay Bailey Hutchison
Sen. Kay Bailey HutchisonR-TX · Apr 7, 2004

Mr. President, reserving the right to object, this resolution has recently gone to the committee. It needs to go through the process. I certainly empathize with many of the things the Senator from…

Mitch McConnell
Sen. Mitch McConnellR-KY · Apr 2, 2004

If there is no further business to come before the Senate, I ask unanimous consent that the Senate stand in adjournment under the previous order, following the remarks of Senator Wyden for up to 15…

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Harry Reid
Sen. Harry ReidD-NV · Apr 2, 2004

Mr. President, I ask unanimous consent to add Senator Corzine for 10 minutes following that.

Bill Text

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Introduced in SenateIssued April 2, 2004
        [Congressional Bills 108th Congress]
[From the U.S. Government Publishing Office]
[S. Res. 330 Introduced in Senate (IS)]

108th CONGRESS
2d Session
S. RES. 330

Expressing the sense of the Senate that the President should
communicate to the members of the Organization of Petroleum Exporting
Countries (OPEC) cartel and non-OPEC countries that participate in the
cartel of crude oil producing countries the position of the United
States in favor of increasing world crude oil supplies so as to achieve
stable crude oil prices.

_______________________________________________________________________

IN THE SENATE OF THE UNITED STATES

April 2, 2004

Mr. Wyden submitted the following resolution; which was referred to the
Committee on Foreign Relations

_______________________________________________________________________

RESOLUTION

Expressing the sense of the Senate that the President should
communicate to the members of the Organization of Petroleum Exporting
Countries (OPEC) cartel and non-OPEC countries that participate in the
cartel of crude oil producing countries the position of the United
States in favor of increasing world crude oil supplies so as to achieve
stable crude oil prices.

Whereas the United States currently imports the majority of its crude oil;
Whereas ensuring access to and stable prices for imported crude oil for the
United States and major allies and trading partners of the United States
is a continuing critical objective of United States foreign and economic
policy for the foreseeable future;
Whereas the 11 countries that make up the Organization of Petroleum Exporting
Countries (OPEC) produce 40 percent of the world's crude oil and control
three-quarters of proven reserves, including much of the spare
production capacity;
Whereas beginning in February 2004, OPEC instituted production cuts, which
reduced production by 2,000,000 barrels per day and have resulted in
dramatic increases in crude oil prices;
Whereas in February 2004, crude oil prices were around $28 per barrel and have
steadily risen since then, exceeding $38 per barrel in March 2004, the
highest prices in 13 years;
Whereas the increase in crude oil prices has translated into higher prices for
gasoline and other refined petroleum products; in the case of gasoline,
the increases in crude oil prices have resulted in a pass-through of
cost increases at the pump to an average national price of $1.75 per
gallon;
Whereas increases in the price of crude oil result in increases in prices paid
by United States consumers for refined petroleum products, including
home heating oil, gasoline, and diesel fuel; and
Whereas increases in the costs of refined petroleum products have a negative
effect on many Americans, including the elderly and individuals of low
income (whose home heating oil costs have doubled in the last year),
families who must pay higher prices at the gas station, farmers (already
hurt by low commodity prices, trying to factor increased costs into
their budgets in preparation for the growing season), truckers (who face
an almost 13-year high in diesel fuel prices), and manufacturers and
retailers (who must factor in increased production and transportation
costs into the final price of their goods): Now, therefore, be it
Resolved, That it is the sense of the Senate that--
(1) the President and Congress should take both a short-
term and a long-term approach to reducing and stabilizing crude
oil prices as well as reducing dependence on foreign sources of
energy;
(2) to address the problem in the short-term, the President
should communicate to the members of the Organization of
Petroleum Exporting Countries (OPEC) cartel and non-OPEC
countries that participate in the cartel of crude oil producing
countries that--
(A) the United States seeks to maintain strong
relations with crude oil producers around the world
while promoting international efforts to remove
barriers to energy trade and investment and increased
access for United States energy firms around the world;
(B) the United States believes that restricting
supply in a market that is in demand of additional
crude oil does serious damage to the efforts that OPEC
members have made to demonstrate that they represent a
reliable source of crude oil supply;
(C) the United States believes that stable crude
oil prices and supplies are essential for strong
economic growth throughout the world; and
(D) the United States seeks an immediate increase
in the OPEC crude oil production quotas;
(3) the President should be commended for sending Secretary
of State Powell to personally communicate with leaders of
several members of the Organization of Petroleum Exporting
Countries on the need to increase the supply of crude oil;
(4) to ameliorate the long-term problem of the United
States dependence on foreign oil sources, the President
should--
(A) review all administrative policies, programs,
and regulations that put an undue burden on domestic
energy producers; and
(B) consider lifting unnecessary regulations that
interfere with the ability of United States' domestic
oil, gas, coal, hydro-electric, biomass, and other
alternative energy industries to supply a greater
percentage of the energy needs of the United States;
and
(5) to ameliorate the long-term problem of United States
dependence on foreign oil sources, the Senate should
appropriate sufficient funds for the development of domestic
energy sources, including measures to increase the use of
biofuels and other renewable resources.
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