[Congressional Record Volume 152, Number 51 (Wednesday, May 3, 2006)]
[House]
[Pages H1986-H1987]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                    RECORD PROFITS FOR OIL COMPANIES

  (Mr. KUCINICH asked and was given permission to address the House for 
1 minute and to revise and extend his remarks.)
  Mr. KUCINICH. Everyone knows the oil companies are posting record 
profits. Oil companies are blaming everyone but themselves for large 
gas price increases. The consumer is being gouged, and oil companies 
continue to avoid their responsibility.
  The most recent data for the Nation shows the average price of gas is 
close to $3 a gallon. Gas prices increasing; wages across the Nation 
dropping. Gas prices hurt even more because folks have less money to 
pay for them. You know what is going on? People are actually going into 
their change jars to go to the gas station to be able to pay for the 
increased cost of gas. Some people are hocking their jewelry to be able 
to pay for the increased price of gas.
  Price gouging is occurring as the oil companies are reaping profits 
close to $300 billion since 2001. Time for a windfall profit tax. Time 
for a bill, the Gas Price Spike Act. Over 50 Members of

[[Page H1987]]

Congress want a windfall profits tax. That is what the oil companies 
understand. When we get that up to 100 cosponsors, then the oil 
companies are going to start backing off, because right now, their foot 
is on the accelerator. They are looking at $3 a gallon, $4 a gallon, $5 
a gallon.
  We have to stand up for the American people, and that is what we are 
here to do.

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