Cliff Stearns: “as the summer driving season is set to begin, gasoline prices are at a record high. While some continue to blame the…”

“as the summer driving season is set to begin, gasoline prices are at a record high. While some continue to blame the Bush administration and the Republicans in Congress, the truth is that neither is responsible for the record highs. The reason for the high gas prices includes the cost of crude oil due to a worldwide explosion in demand, the lack of refinery processing capacity, and the overregulation here in Washington. The House will get the opportunity to address this problem this week with the House bringing to the floor the Energy Policy Act of 2005, H.R. 6. The long-awaited legislation contains a number of provisions that would lower gas prices. H.R. 6 encourages more domestic production of oil with incentives such as a streamlined permit process, promotes a greater refining capacity to bring more oil to market, and increases the gasoline supply by stopping the proliferation of expensive regional boutique fuels. The Department of Energy predicts by 2025 U.S. oil and natural gas demand will rise by 46 percent, with energy demand increasing 1 percent for every 2 percent in GDP growth. Critics of H.R. 6 claim that it would do little to curb consumption or drive down prices. In fact, this legislation includes provisions to do just that. In order to scale back demand for oil, the proposal encourages vehicles powered by hydrogen fuel cells and increases funding for the Department of Transportation to work to improve fuel efficiency standards.…”