[Congressional Record Volume 150, Number 135 (Saturday, November 20, 2004)]
[Extensions of Remarks]
[Pages E2111-E2112]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




INTRODUCTION OF THE SMALL BUSINESS AND FARM ENERGY EMERGENCY RELIEF ACT 
                                OF 2004

                                 ______
                                 

                          HON. JOHN B. LARSON

                             of connecticut

                    in the house of representatives

                       Friday, November 19, 2004

  Mr. LARSON of Connecticut. Mr. Speaker I rise today to introduce the 
Small Business and Farm Energy Emergency Relief Act of 2004.
  According to the October 2004 Short-Term Energy Outlook published by 
the Energy Information Administration (EIA) at the Department of 
Energy, residential heating expenditures are projected to increase for 
all fuel types compared to year-ago levels and are even likely to 
generate higher expenditures even in regions where demand for fuel is 
expected to fall. The average residential natural gas prices are 
expected to be 11 percent higher than they were last winter, and 
household expenditures are expected to be 15 percent higher. Heating 
oil prices are expected to average 29 percent higher compared with last 
winter and household expenditures are expected to be 28 percent higher. 
Propane prices are expected to average 17 percent above last winter, 
with 22 percent higher expenditures for propane-heated households.
  The high and rising costs of oil, natural gas, and propane, and other 
petroleum distillates, can have a significant economic impact on small 
businesses, farms, and distributors, as well as a larger overall 
negative impact on the economy. In fact, the future energy outlook is 
so grim that EIA is predicting that next year high world oil prices 
will begin to slow the pace of world economic growth.
  We must take action today to ensure relief to America's farms and 
small businesses before the worst of winter and the coming energy 
crisis is upon us. That is why I am proposing an expansion of the 
Economic Injury Disaster

[[Page E2112]]

Loans (EIDLs) at the Small Business Administration and the Emergency 
Loans at the Department of Agriculture so that small businesses and 
farms that suffer direct economic injury by, or are likely to suffer 
direct economic injury by, significant increases in the prices of 
heating oil, propane, kerosene, natural gas, or electricity are 
eligible to apply for those loans.
  The United States economy should not be held hostage to foreign oil 
interests. I urge my colleagues to join me in support of our small 
businesses and farms.

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