Bart Stupak: “for a second time this year the Republicans are attempting to move legislation that would significantly alter Federal…”

“for a second time this year 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 Act, the GAS Act, which was only approved by the House by two votes after the Republican leadership twisted arms and held the vote open for 45 minutes. The GAS Act was a bad bill then and this is a bad bill now. While proponents contend that the 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 three memos, from Chevron, from Mobil, from Texaco, all specifically advocating that these companies, these refineries, limit their refinery capacity to drive up the price for gasoline for America. From September 2004 to September 2005 the refineries' profits increased by 255 percent. During the first quarter of 2006 Valero Energy Company, the largest refiner in the United States, recorded profits 60 percent higher than last year. Obviously, complying with Federal regulation does not present these companies with a significant financial hardship or hardship to put forth refining.…”