Klobuchar Continues to Fight to Bring Consumers Relief at the Gas Pump

Press Release

Klobuchar Continues to Fight to Bring Consumers Relief at the Gas Pump

Amendment passed today would suspend oil purchases for Strategic Petroleum Reserve Klobuchar says more comprehensive action needed to put consumers first

U.S. Senator Amy Klobuchar today voted in favor of a measure she cosponsored to bring consumers relief at the gas pump by suspending federal oil purchases for the Strategic Petroleum Reserve until the end of 2008 or until world oil prices come down. The measure passed the Senate Tuesday.

"Our government should not be taking oil off the market at a time when hard-working families are paying record gas prices,'' Klobuchar said. "While we also need a comprehensive, long-term energy policy, this is a smart step to help consumers immediately.''

Klobuchar said she will continue to press for other measures that would bring consumers relief immediately and in the long run. She was a cosponsor of the Consumer-First Energy Act, which included short-term and long-term measures to reduce high energy prices.

"We have had eight years of a failed energy policy and eight years of prices going up and up. Consumers cannot afford these energy costs,'' Klobuchar said. "We need an energy policy that puts consumers first.''

Klobuchar said she will continue to press for legislation that would reduce speculation in energy markets by increasing the "margin requirement'' payments that traders must put up when trading in energy futures and by stopping traders from routing their transactions through offshore markets to escape federal regulation. Several energy analysts have told Congress they believe that rampant energy speculation is driving up world oil prices.

"Any prosecutor can tell you that good laws are not enough. You need good enforcement too,'' Klobuchar said. "History has shown that when enforcement is lax, consumers pay the price.''

Klobuchar also supports measures that would pressure OPEC to increase oil production by giving the U.S. Attorney General authority to bring enforcement action against foreign governments that are colluding to set the price of oil. To address the nation's long-term energy independence, Klobuchar has also said Congress should roll back the billions of dollars in tax giveaways that oil companies currently receive and invest the revenue in long-term solutions, including renewable, alternative fuels.

"We need to pursue a forward-looking energy with the same sense of urgency that we used to put a man on the moon nearly 40 years ago.'' Klobuchar said.

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