Bob Menendez: “residents in my home State of New Jersey certainly haven't been immune to exorbitant energy prices. The cost of home…”

“residents in my home State of New Jersey certainly haven't been immune to exorbitant energy prices. The cost of home heating oil for my constituents has doubled to $2 a gallon in just a matter of weeks. As a result, a typical household could spend an additional $350 or more in home heating costs this winter. Consumers, truckers, and other oil dependent industries have been suffering for months as a result of these excessive prices. Some independent truckers have taken their trucks off the road because they simply can't afford to operate them. The legislation before us, which I voted for in committee, simply does exactly what the administration has been doing. Secretary of Energy Bill Richardson has already been engaged in diplomatic efforts to leverage our relationship with oil producing nations and to demand an increase in oil production. As a matter of fact, he just recently completed his whirlwind OPEC diplomatic tour, which I'm hopeful will yield results at next Monday's OPEC meeting. Today's debate is simply a 'cheering-on' of those efforts. But regardless of what happens on Monday, we need to take steps to protect the American economy and American consumers in the short- and long-terms.”