[Congressional Record Volume 154, Number 105 (Tuesday, June 24, 2008)]
[Extensions of Remarks]
[Page E1326]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                CONGRESSIONAL BLACK CAUCUS MESSAGE HOUR

                                 ______
                                 

                               speech of

                       HON. STEPHANIE TUBBS JONES

                                of ohio

                    in the house of representatives

                         Monday, June 23, 2008

  Mrs. JONES of Ohio. Mr. Speaker, I am pleased to stand here tonight 
on behalf of the Congressional Black Caucus and we discuss the current 
energy crisis we are facing and the rising gas prices that continue to 
take a devastating toll on Americans. As we head into the summer 
months, the Congressional Black Caucus felt it's important to shine a 
light on this growing problem. More importantly, we wanted the American 
public to know that the CBC is taking important steps to combat these 
issues through our CBC Energy Task Force.
  I along with the CBC have been working hard to reduce our dependence 
on foreign oil and bring down record gas prices, and launch a cleaner, 
smarter energy future for America that lowers costs and creates 
hundreds of thousands of green jobs.
  In an effort to combat soaring gas prices, which are currently 
hovering around $4.00 a gallon, I joined with a number of my colleagues 
in supporting legislation to temporarily suspend the filling of the 
Strategic Petroleum Reserve, SPR, until the end of the year. Filling of 
the SPR takes 70,000 barrels of oil off the market each day and a 
temporary suspension could reduce gas prices from 5 to 24 cents a 
gallon, which would be a critical first step for America's families, 
businesses, and the economy.
  The Strategic Petroleum Reserve is roughly 97 percent full--the 
highest level ever--with enough oil to meet our national security 
needs. Currently, we have more in SPR, than we did in 2006 (702 million 
barrels vs. 688 million in 2006) and the inventory exceeds our 
International Energy Program commitment to maintain at least 90 days of 
oil stocks in reserve including private and public stocks.
  The SPR has been tapped or suspended before by President Bush, 
President Clinton, and the first President Bush. In 2000, after such 
action, the price of oil dropped down by one-third--from $30 to $20 per 
barrel.
  In addition to this initiative, I have and continue to support 
legislative action on gas prices including: holding OPEC, controlled 
entities and oil companies accountable for oil price fixing, cracking 
down on oil price gouging and repealing subsidies for profit-rich ``Big 
Oil'' companies so we can invest in a renewable energy for the future.
  Additionally, the CBC has been working diligently on the issue of 
climate control. We recognize the importance of protecting our 
environment by transitioning from traditional energy sources, such as 
coal and petroleum, to clean sources, such as bio-fuel, wind, and solar 
energy. I am a strong supporter of putting more resources into creating 
alternative energy sources. When we invest in these alternative energy 
sources it also benefits our increasingly fragile environment.
  Additionally, the new energy sources will create much needed green 
jobs. According to the Union of Concerned Scientists, Ohio stands to 
gain approximately 7,360 new jobs from renewable energy development. 
These jobs will be beneficial to both our economy and our environment.
  I thank Representative Towns and the entire CBC Energy Task Force for 
their leadership on this issue.

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