[Congressional Record Volume 150, Number 71 (Wednesday, May 19, 2004)]
[Extensions of Remarks]
[Page E911]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




      THE BUSH ADMINISTRATION MISSES THE BOAT ON RISING GAS PRICES

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                        HON. NICK J. RAHALL, II

                            of west virginia

                    in the house of representatives

                        Wednesday, May 19, 2004

  Mr. RAHALL. 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.

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