Rising Gas Prices

Floor Speech

Mr. TONKO. Mr. Speaker, I rise today to shed light on a very serious problem--skyrocketing gasoline prices.

In the capital district of New York, prices at the pump today average about $3.50 per gallon. Nationally, the average price is $3.38 per gallon, and it continues to rise. Due to the continued conflict in North Africa and the Middle East, oil is over $100 per barrel. There appears to be no end in sight.

For every $10 per barrel rise in the price of oil, America sends an additional $40 billion overseas, yearly. How can we expect to turn around our economy and create jobs when we are sending this much money to our enemies?

Plain and simple, we must start thinking outside the barrel--to create jobs and protect our national security. We as Americans are better than the ancient fuel that we put into our vehicles.

Using 19th and 20th century oil subsidies in this 21st century is outdated and foolish. We are literally giving away hard-earned taxpayer money to big oil companies that are setting record profits. What do we get in return? Sticker shock at the pump.

Mr. Speaker, this is unfair to hardworking Americans that play by the rules. We deserve better. Let's stop this sticker shock.

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