Virginia Foxx: “I know I'm going to repeat some of the things that my colleague from Texas has gone over as it relates to energy in our…”

“I know I'm going to repeat some of the things that my colleague from Texas has gone over as it relates to energy in our country and the response of the Obama administration. But, Mr. Speaker, these facts bear repeating because the media has been complicit with the Obama administration in hiding the facts from the American people about the extraordinarily negative impact that the President and his administration have had on the American people as it relates to energy prices. Let me say, again, that on his inauguration date in 2009, the average price of gasoline in this country was $1.84. The average price of gasoline today is $3.73. That is a 102 percent increase. By spring, the estimates by Barrons are that the price of gasoline will be $4.50. This is a tremendous burden on the hardworking American taxpayers. We hear the President and his people in his administration talking about how they want to be fair--fair to the middle class. Well, what's not fair to hardworking American taxpayers is the President's inability to see how the price of gasoline is hurting those hardworking American taxpayers. A 1-cent increase in the cost of gas equals $1 billion out of our economy and is a $4 million per day cost to consumers. A 50-cent increase in gasoline equals a $70 billion yearly loss to the U.S. economy. Again, how does it affect the average family? In 2009, it cost them $173.80 more; in 2010, $281.06; in 2011, $368.09.…”