Jack Reed: “the second storm surge from Hurricanes Katrina and Rita--high energy prices--threatens to overwhelm working families and…”

“the second storm surge from Hurricanes Katrina and Rita--high energy prices--threatens to overwhelm working families and senior citizens. The Energy Information Administration forecasted that households heating with natural gas will spend $306, or 41 percent, more for fuel this winter than last winter; households primarily using heating oil can expect to pay $325, or 27 percent, more; and households heating primarily with propane can expect to pay $230, or 21 percent, more. Low-income families and seniors need assistance from the Federal Government in order to guarantee energy security in this high price environment. To provide immediate help this winter, I am working with Senator Collins to secure $5.1 billion in funding for the Low-Income Home Energy Assistance Program. Over the last 4 weeks, we have offered two amendments to increase funding for LIHEAP. While a majority of the Senate supported these amendments, we have been unable to reach the required 60 vote supermajority needed to waive the budget point of order on emergency spending. Oil companies reported record profits for the third quarter of this year. As oil prices go up, low-income hard working Americans struggle to pay their heating bills. That is why fully funding LIHEAP is vital, and I believe oil companies should help shoulder the cost through a temporary, one-year windfall profit tax on integrated oil companies.…”