[Congressional Record (Bound Edition), Volume 150 (2004), Part 8]
[Extensions of Remarks]
[Page 10991]
[From the U.S. Government Publishing Office, www.gpo.gov]




               TO CALL ATTENTION TO THE HIGH PRICE OF GAS

                                 ______
                                 

                        HON. DENNIS J. KUCINICH

                                of ohio

                    in the house of representatives

                         Thursday, May 20, 2004

  Mr. KUCINICH. Mr. Speaker, I rise today to recognize the increasing 
pressure rising gas prices are placing on the constituents of Ohio's 
tenth district, and consumers around the country.
  Today, I received a petition, presented to me by WEWS Television 
Station in Cleveland, Ohio, from those in the Cleveland area who are 
being harmed by the recent spikes in gas prices. This petition, with 
over 14,000 signatures, is evidence of the strains placed on consumers 
in an already bleak economic market. To address these concerns, I, 
along with 67 other members of the House of Representatives, am sending 
a letter to President Bush expressing my concerns.
  Effectively addressing high gasoline prices will take six steps--none 
of which are included in the energy legislation.
  First, require oil companies to expand gasoline storage capacities, 
require them to hold significant amounts in that storage, and reserve 
the right to order these companies to release this stored gas to 
address supply and demand fluctuations.
  Second, block mergers that make it easier for oil companies to 
manipulate gasoline supplies, and take steps, such as forcing companies 
to sell assets, to remedy the current highly concentrated market.
  Third, re-regulate energy trading exchanges that were exploited by 
Enron and continue to be abused by other energy traders.
  Fourth, discontinue filling the Strategic Petroleum Reserve while 
prices are high and conduct a study of building crude and product 
reserves that can be used as economic stockpiles to dampen price 
increases.
  Fifth, reduce oil consumption by implementing strong fuel economy 
standards. Substantially improving CAFE standards over a ten-year 
period would reduce the oil used by one-third in 2020 and save 
consumers $16 billion at the gas pump.
  Sixth, request the Federal Trade Commission conduct a study of the 
reasons why the market forced the closure of over 50 predominantly 
small and independent refiners in the past 10 years and assess how to 
bring fair competition back to the refinery market and thus expand 
capacity.
  By employing all six of these strategies, substantial reductions in 
the price of gasoline are attainable.
  Mr. Speaker and Colleagues, please join me in supporting these 
strategies to lower gasoline prices for consumers. I want to thank WEWS 
for their public service of bringing these signatures to Washington. 
The people of Ohio have spoken. It is time for Congress and the 
Administration to respond to meet the people's needs.

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