[Congressional Record Volume 149, Number 142 (Friday, October 10, 2003)]
[Extensions of Remarks]
[Page E2028]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]


[[Page E2028]]
         URGING THE CONTINUED INVESTIGATION OF HIGH GAS PRICES

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                         HON. STEVEN R. ROTHMAN

                             of new jersey

                    in the house of representatives

                        Friday, October 10, 2003

  Mr. ROTHMAN. Mr. Speaker, I rise today to call attention to an issue 
of serious concern to my constituents in northern New Jersey, as well 
as to consumers and local governments throughout the Northeast: rising 
gas prices. Following the historic Northeast blackout, gas prices 
increased twelve cents on average during the last week of August, 
raising the national average to $1.75 per gallon--an all-time high. In 
some places the spike was more severe--in New Jersey, for example, gas 
prices at the pump rose by more than 30 cents per gallon.
  Local governments are particularly negatively affected by unforeseen 
spikes in gas prices. Municipalities budget more than a year in advance 
for gas purchases for police cars, public works trucks and for heating 
oil for municipal buildings. Similarly, consumers and families have to 
budget for gasoline purchases every week, and for the upcoming home 
heating, based on increasingly high prices.
  Mr. Speaker, it is time that policymakers at all levels of government 
take action to combat price spikes induced by firms that manipulate 
market fluctuations to gouge consumers and governments. I am pleased to 
report that the Bergen County Board of Chosen Freeholders acted quickly 
to do just that, passing a resolution sponsored by two members who are 
also local mayors, Mayor David L. Ganz of my hometown of Fair Lawn, and 
Mayor Jim Carroll of Demerest.
  On September 17, 2003, Bergen County Freeholders voted unanimously to 
ask the New Jersey state legislature to investigate oil companies that 
deliberately gouge the public with high gasoline prices at the pump. 
The Board also called on President Bush to consider releasing oil from 
the 22 billion barrel strategic petroleum reserve to give consumers 
immediate relief. Mayors Ganz and Carroll cited high gas prices that 
were playing havoc with municipal budgets, especially for law and 
public safety departments of the county and their own municipalities.
  Mr. Speaker, I commend the Bergen County Freeholders, particularly 
Mayors Ganz and Carroll, for taking swift action on behalf of their 
constituents and New Jersey consumers. I wish to add my voice to their 
efforts by urging Energy Secretary Spencer Abraham to expeditiously 
conclude the ongoing joint Energy Information Administration-Federal 
Trade Commission investigation of the record August gas price spike. If 
firms are indeed found to have manipulated market conditions to gouge 
consumers and local governments, I call on the Department of Justice 
and the Bush Administration to prosecute all wrongdoing to the fullest 
extent of the law.
  Mr. Speaker, urge that every Member of Congress pay attention to the 
severe problem of gas price spikes now so that our communities do not 
face this problem in the future.

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