over the last year, the prices per gallon increased from about $10 per barrel to over $30 per barrel before there was any decisive, even comment or any action by the administration. Now we are beginning to see some of the supply interruption. Perhaps we have some more relief as a result of some of the oil-producing nations agreeing to increase their output. That will probably have more of an effect by increasing output and using our influence, our diplomatic efforts to ensure that our allies and friends increase oil production, than anything particularly we might do with the Strategic Petroleum Reserve. But I also would say to the gentleman that I think it is the intention of working through some of the common interests in a bipartisan way and actually reauthorizing the Strategic Petroleum Reserve.
Rick Lazio: “over the last year, the prices per gallon increased from about $10 per barrel to over $30 per barrel before there was…”
Editor's note · Context
Discussing rising oil prices and the Strategic Petroleum Reserve during a floor debate.
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