Tapping Strategic Petroleum Reserve Smart Move, More Refineries Needed to Keep Gas Prices Stable

Tapping Strategic Petroleum Reserve Smart Move, More Refineries Needed to Keep Gas Prices Stable
8/31/2005

WHITE SULPHUR SPRINGS, WV - (8/31) - While attending the West Virginia Chamber of Commerces summer meeting today, Congresswoman Shelley Moore Capito (R-WV) released the following statement regarding the impact of Hurricane Katrina on the price of gasoline in West Virginia:

"President Bush made a smart move today deciding to tap the Strategic Petroleum Reserve to ensure there continues to be oil to fuel our automobiles and our economy," noted Capito. "The Gulf Coast has been hit hard and so has Americas ability to get gasoline to the pump. We need new sources of oil to keep gas prices low. This is why Congress needs to take action now to open northern Alaska to oil exploration, if Congress doesnt take action now they are telling motorists to get used to $3 a gallon gasoline. Without new refineries and sources of oil we remain at the whim of foreign oil and are powerless to keep prices low when impacted by natural disasters."

Earlier this year the Energy Bill became law after a four year delay. The legislation was a strong step in establishing a National Energy Policy. One provision in particular will make it easier for oil refineries to be built in the United States. A greater refinery capacity will lead to more stable gas prices.

http://capito.house.gov/press_office/detail-page.aspx?id=100&whichone=pr