Political Quotes

On the recordJune 11, 2008
There are three reasons that gas prices have gone up, two of which we can control and one we can't. We can't control the increased demand in China and India and other countries in the world. It is a huge driving force. It is going to continue to get worse over time. It is going to continue to drive an increase. The other two factors, increased speculation in the market and manipulation of the price in the worldwide oil market. The gentlewoman from Florida talks about what this Congress is doing on that issue in regulating that market and moving towards a more fair system that is going to decrease the price per barrel upwards of $30. But perhaps the biggest cause is the weak U.S. dollar. So let's take a look at why the dollar is so weak. Oil is traded in the worldwide market based on the dollar. We are paying more in this country. Obviously our currency is the U.S. dollar and we are paying more because of the weakness of the dollar which is at an all-time low, an historic low.
Said by
Jason Altmire
Pennsylvania

Editor's note · Context

Discussing the factors contributing to rising gas prices during a congressional debate.

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