On the recordSeptember 30, 2005
as of yesterday afternoon, nearly a quarter of this country's refinery capacity is offline. Already feeling the impact of high prices at the gas pump prior to the two hurricanes, Americans are bracing for additional price increases as refinery operations remain shutdown in the gulf coast. Americans are also bracing for record high energy costs this winter. While the administration has ordered the release of petroleum from the Strategic Petroleum Reserve, without refinery capacity, putting crude oil on the market does little to nothing to alleviate immediate supply constraints and high prices at pump. What hurricanes Katrina and Rita taught is that we must be ready for a rainy day. That is why it is critical to our national and economic interests to build a gasoline reserve to keep the country moving forward in case of an emergency. Witnessed by the ill-preparedness of the response in the wake of Hurricane Katrina, we must prepare now for the potential impact of future catastrophes. Most importantly, as fuel supplies remain tight, we must prepare to alleviate the impact that another natural disaster, refinery fire, or pipeline explosion has on the Nation fuel supply and as a result our national economy. Yesterday I introduced the Strategic Gasoline and Fuel Reserve Act of 2005.…
Source
govinfo.gov




