Political Quotes

“One of the things I know I am personally for, and I think the Speaker is for that, as well, and we have urged the administration to take action, is not purchase additional oil for the Strategic Petroleum Reserve at this time. I would be opposed to taking oil out of the reserve. But if we stop purchasing oil for a period of time, reduce our demand as we fill the SPR, not only will we reduce demand, economists tell us that would have an effect on price, perhaps about the same as the gasoline tax holiday that you refer to. There are a number of pieces of legislation. Mr. Welch has a bill. Mr. Lampson has a bill. And many, many other Members have a bill. The administration, we believe, can do this on its own. We think that would be good policy while we have this crisis to stop filling up, not reducing, but to stop filling up our own reserve and reduce demand. Economists tell us that would have a positive effect on bringing prices down as well.”