Bart Stupak: “I urge a ``no'' vote on this legislation. As a member of the Energy and Commerce Committee, I am concerned that the…”

“I urge a ``no'' vote on this legislation. As a member of the Energy and Commerce Committee, I am concerned that the Republicans are attempting to move legislation that would significantly alter Federal law regarding the refinery permitting process without a committee hearing, without a markup, without even allowing the bill to be amended on the floor. This bill is a rerun of the Gasoline for America's Security (GAS) Act, which was only approved by the House by a vote of 212 to 210 after the Republican Leadership held the vote open for 45 minutes, twisted arms. That GAS Refinery bill was a bad bill then, and now this bill before us is even worse. By pushing refinery legislation through the House without any hearings, debate, or amendments, we are doing the American public a disservice. While the proponents of this legislation contend that oil companies are unable to improve their refinery capacity because of excessive regulation, the truth is, oil companies have intentionally reduced domestic refining capacity to drive up gas prices. I have here internal memos from Mobil, Chevron, and Texaco, specifically advocating that these companies limit their refining capacity to drive up prices. From September 2004 to September 2005, refineries profits increased by 255 percent. During the first quarter of 2006, Valero Energy Corporation, the largest refiner in the United States, reported profits 60 percent higher than last year.…”