DeLauro: News of High Energy Prices Proves Middle Class Families Paying the Bill for Republican Cronyism
Tuesday, December 13, 2005
DeLauro: News of High Energy Prices Proves Middle Class Families Paying the Bill for Republican Cronyism
WASHINGTON, D.C. - In reaction to news that energy prices may remain at record-high levels until 2014, Congresswoman Rosa L. DeLauro (Conn.-3) said these prices prove that middle class families are seeing the cost of political cronyism within the Republican Congress. DeLauro questioned the Republican Leadership's ability to put forth a fair energy policy that helps middle class families given their ties to the oil and gas industry.
Last week, DeLauro and House Democrats unveiled a plan that repeals unnecessary tax breaks for oil companies secured under the president's energy bill. The Democratic plan channels the funds where they belong - toward helping the families, small businesses and farmers who need it most. Savings would be in the range of $8 to $9 billion over ten years.
"For months, Democratic members of the U.S. House have called on the leadership of this body to work to lower the costs of gas and home-heating oil for all American families," said DeLauro. "Instead, Republicans in Congress have focused on rewarding the major oil companies with an energy bill that represents nothing more than a corporate giveaway to the nation's oil and gas industry and by refusing to end the windfall profits of up to $100 million per day that oil companies are enjoying. The middle class is paying for the corrupt actions of this Congress."
Yesterday, the Organization of the Petroleum Exporting Countries (OPEC) hinted at possible production cuts next year while the federal Energy Information Administration forecasted that heavy demand would cause the average cost of oil imported by U.S. refiners to rise until 2014. The Department of Energy anticipates that the price of oil will exceed $50 for the foreseeable future.
"Record-high energy prices will continue unless we reduce our dependence on foreign oil," said DeLauro. "Now is the time to increase our investment in new and emerging technologies that can help us ultimately declare our independence from the OPEC countries, not reward the major oil companies and allow them to dictate our national energy policies."
http://www.house.gov/delauro/press/2005/December/energy_prices_12_13_05.html