On the recordJune 23, 2011
Mr. President, I am honored to follow that very articulate colloquy between my colleagues from Arizona and South Carolina and certainly draw inspiration from what they have outlined in that colloquy, the consequences internationally and at home in this very important week. I rise to call attention to developments in an area that is among those consequences--the price of gasoline, the supply of fuel internationally and at home. I rise to commend the President of the United States for releasing today some 30 million barrels of oil over the next 30 days, which already has brought down the price of oil by about $5 per barrel on the New York Mercantile Exchange. This consequence certainly cannot be the end of the campaign that we must continue to wage. I commend the President for heeding the calls from myself and my colleagues to address the pain felt across Connecticut and the country as prices remain too high, at close to $4 a gallon. The drop we have seen today should be followed by additional reductions. That can happen only if the administration and this body continue to campaign to achieve those lower prices. This development follows the decision by the Federal Trade Commission to conduct an investigation, again heeding calls from me and my colleagues, that a searching, penetrating, comprehensive investigation is necessary to forestall and prevent manipulation and speculation on the markets.…
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