Vito Fossella: “On June 21, the nations of OPEC will meet once again to determine the fate of practically every family across the…”

“On June 21, the nations of OPEC will meet once again to determine the fate of practically every family across the country, and that is whether to increase oil production in those nations. Now, it is no secret, Mr. Speaker, to every family and business across this Nation that gas prices are through the roof. Lately, we have been hearing a lot of excuses as to why that is occurring. But let us not lose sight of why it is occurring. It is fundamentally a law of supply and demand. As we keep down production, and the demand for that product, in this case oil, continues to grow, prices will rise. So not only must we call upon our OPEC nations to increase production, to lessen the price at the pump, but we also I think have to look inside our unnecessary rules and regulations that cause those gas prices to jump as well. For months now, more than a year, Members of Congress, both Democrats and Republicans, have tried to plead with the administration to find ways to stimulate domestic production to decrease our reliance on OPEC nations.”