Chuck Schumer: “I rise to discuss oil prices, another problem vexing America. Everywhere I go in my State, people are just amazed that…”

“I rise to discuss oil prices, another problem vexing America. Everywhere I go in my State, people are just amazed that gasoline prices are through the roof. It is hurting everybody. There was a report last week that people were buying a little less food. You know you are getting down to the bare bones. Costs of everything could go up. Inflation, thankfully, has stayed low, but if energy prices stay this high for this long, they are going to get higher. What is so troubling is that we have the tools to bring the prices back down. The administration is fiddling while high-priced gasoline burns, if you will. The No. 1 culprit is not the lack of refineries. Let me make clear: We do have a shortage of refineries. We have had a shortage for 15 years. The price has not been this high for 15 years. The price was a lot lower a year ago with the same number of refineries. The problem is OPEC. OPEC has gotten together, led by the Saudis, and decided that the old ceiling of $28 a barrel is no longer the ceiling. It is approaching $40 a barrel. That is danger for our people, our economy.”