[Congressional Record (Bound Edition), Volume 152 (2006), Part 5]
[House]
[Page 6719]
[From the U.S. Government Publishing Office, www.gpo.gov]




                            HIGH GAS PRICES

  The SPEAKER pro tempore. Under a previous order of the House, the 
gentleman from Minnesota (Mr. Kennedy) is recognized for 5 minutes.
  Mr. KENNEDY of Minnesota. Mr. Speaker, as we well know, the rising 
cost of gasoline is a burden on hard-working families and on small 
businesses across the country.
  Recently, the price of crude oil hit the historic high of $75 a 
barrel. The average price of gasoline is now a whopping $2.92 cents a 
gallon, and it shows no sign of dropping before the busy summer travel 
season.
  While much of this is the result of increasing demand generated by 
our growing economy and increased instability in Iran and other oil-
producing countries, Congress has a duty to take action.
  Some in Congress like to play politics on this issue. The American 
people don't want cheap political games and stunts. They want and 
deserve solutions.
  We provided good solutions in the strong conservation and renewable 
energy titles of the energy bill that we passed last year. Had it not 
been for political gamesmanship, these measures, which languished in 
Congress for 4 years after we passed it in the House, would already be 
reducing gas prices with more hybrid and E85 ethanol cars on the road 
and more biofuels to fuel them.
  Instead, these policies are just being implemented now. Over time, I 
believe that last year's energy bill will help bring down the cost of 
energy for consumers, but, in the meantime, we must do more.
  Last year, in the House, we passed the Gas Act that would not only 
streamline the process of expanding refineries but also provide, for 
the first time, a Federal criminal penalty for price gouging in 
gasoline or diesel fuel cells.
  Additionally, Mr. Speaker, we ought to stop giving tax incentives to 
big oil and gas producers when they are already reporting record 
profits. That is why last year I introduced legislation with 
Congressman Mark Udall to redirect $2.5 billion in tax incentives away 
from the oil and gas companies, instead put it towards doubling 
incentives for E85 ethanol, hybrid and hydrogen vehicle production.
  Renewable fuels are the key to our energy independence and to freeing 
drivers from the high cost of imported oil. We need only look to my 
home State of Minnesota, which has been leading the Nation in 
developing renewable fuels. Minnesota was the first state to require 
ethanol be sold in all gasoline and has been instrumental in the 
development of E85 fueling stations, with over 100 such stations 
throughout the State.
  Mr. Speaker, the proof is at the pump. These policies have resulted 
in Minnesota gas prices being amongst the lowest in the country. It is 
common in Minnesota to see E85 being sold for 50 cents less than 
regular gasoline.
  These savings should be enjoyed nationwide, which is why I am pleased 
to be an original cosponsor of H.R. 4357, which was introduced last 
year by my fellow Minnesotan Congressman Gutknecht. This bill would 
require that our country adopt Minnesota's model that all gasoline 
should contain 10 percent renewable fuels.
  We must get beyond the partisanship and obstruction that is blocking 
these additional measures. We have now waited for a year. We cannot 
afford to wait for 4 years. We must act now.
  But we also must, in the meantime, make sure that the high gas prices 
don't destroy the strong economic growth that is providing jobs to so 
many. One of the first things we should do is a temporary suspension of 
the Federal gas tax. Suspending the gas tax will produce an immediate 
18.4 cent per gallon savings for motorists when they fill up their 
tanks. That is why I will be introducing legislation to suspend the 
Federal gas tax throughout the summer driving season.
  Highway trust fund revenue lost from this temporary suspension would 
be paid back and the fund made whole by fixing an oversight that has 
allowed some oil and gas companies to escape paying what they owe under 
the law to the Treasury. Unlike other measures, we can do this now, 
providing immediate relief to drivers hurting at the pump.
  Mr. Speaker, high gas prices hurt American families and threaten our 
growing economy. We have a duty to respond. Let's stop the politics and 
get to work.

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