The Bush Administration Misses The Boat On Rising Gas Prices
Mr. Speaker, an article in today's Washington Post, entitled ``Bush's Handling of Gas Costs Criticized'' by Jonathan Weisman, reports that not only Democrats, but also the President and Vice-President's former associates in the oil and gas…
Mr. Speaker, an article in today's Washington Post, entitled ``Bush's Handling of Gas Costs Criticized'' by Jonathan Weisman, reports that not only Democrats, but also the President and Vice-President's former associates in the oil and gas industry are growing more critical of the Administration's inaction and lack of attention to the rising cost of gasoline. ``The average guy on the street is getting killed because this administration does not care,'' said John Meade Huntsman, founder of the largest privately held chemicals manufacturing corporation in the U.S.
While I did not hold high hopes for the Bush Administration in general, I certainly thought that with two former oil executives running the country, the one thing they could get right would be the supply of affordable gasoline. But instead, America is heading into a long, hot summer of higher prices for the gasoline we use to get to work and to go on vacation. After all, this was an issue George W. Bush promised to make a high priority during his 2000 campaign for the presidency.
But, apparently, as with so many other promises, the President did not mean what he said about meeting the needs of Americans who depend on affordable gas prices to find work, get to work and provide for their families.
In March of this year, according to the American Automobile Association, the average price for a gallon of regular gasoline in West Virginia had increased to $1.72. At that time, I asked Attorney General John Ashcroft and Energy Secretary Spencer Abraham to launch an immediate investigation into whether price fixing is the cause behind skyrocketing gasoline prices. Now, less than 2 months later, the price has risen 27-cents to an average price of $1.99. One year ago, the average price was $1.54--that's a 50-cent increase over the last 12 months. This steep jump in price is severely affecting my constituents in West Virginia. Today, I add my voice to Senator Robert C. Byrd's request that the Federal Trade Commission review whether consumers are being unfairly squeezed.
So far, the Administration has done precious little to address the surge in oil prices. This past week, the price of oil reached a 13-year high. And these prices will continue to rise as fears and uncertainties rise over the Administration's ill-planned ``regime change'' in Iraq. Members of Congress have called on the Administration to suspend delivery of oil in-kind to the Strategic Petroleum Reserve and to bring greater pressure to bear on OPEC to increase oil supplies.
These near-term actions would have some beneficial effect. In the end, however, the Nation requires a serious, workable energy strategy. As Ranking member of the Resources Committee, I can say with confidence that neither the House nor the Senate has developed such legislation. Despite the President's continued call for an energy bill, his Energy Information Administration has concluded that a number of the provisions in the energy bills currently before Congress will have only a negligible effect on energy production, consumption or prices.
Certainly, there is a serious need to reduce our dependence on foreign oil sources. However, enacting legislation to open the ANWR or other environmentally-sensitive areas in the Rocky Mountains is not the answer. Instead, we should focus our efforts on developing alternative fuels and strategies. For instance, with an increased investment in energy efficiency, we can meet more of our transportation and other needs through the development of coal, renewable and other resources.