|
It is summer time and in Oklahoma that means it is vacation time. Oklahomans are drivers, and this summer families across our great state will pack their suitcases and hit the road to enjoy their summer vacations. With all the excitement of the summer months ahead, one inevitable issue on the minds of all Oklahomans is the rising costs of gas prices. Today Oklahomans are paying an average $3.17 per gallon at the pump, $.58 more than they were paying a year ago. Americans are feeling the crunch of high gas prices everyday, and it is time that Congress take meaningful steps to develop a long term energy strategy of independence, affordability and predictability in order to help alleviate the problem.
Recently Congress passed H.R. 1252, the so-called Federal Price Gouging Act that is intended to protect consumers from price gouging. I voted against this do-nothing legislation, because it is just that - it does nothing to alleviate increasing gas prices. In fact, both the Department of Energy, as well as the Federal Trade Commission has found no credible evidence that the rising prices of gas are due to market price fixing or any other unlawful behavior among oil companies. And many economists believe that the real result of the Federal Price Gouging Act will be to impose price controls on gasoline that could very possibly result in shortages, gasoline rationing and 1970's style gas station lines.
This misguided legislation comes just months after Speaker Pelosi and her Majority Party passed legislation repealing tax incentives approved by the previous Congress that would have encouraged oil producers to increase their domestic production and their refining capacities. These incentives would have invested in our energy infrastructure - something that would actually help bring down prices and improve predictability. Instead, The Speaker and her allies effectively raised taxes - which raised prices at the pump. In so doing they not only demonstrated a remarkable lack of knowledge of the energy industry, but also of basic economics.
Congress needs to enact common sense, comprehensive energy policy that will increase American supplies of all forms of energy. We need a balanced policy that will increase domestic production, speed up refinery expansion, invest in the renewable and alternative fuels of tomorrow, and improve our fuel efficiency and conservation. In other words, we don't need more heavy handed over regulation from Washington DC - we need more innovation, more production and more commitment from our leaders to actually craft sound policy, not just play politics.
###
|
|
