On the recordJuly 15, 2022
I thank the gentleman for yielding. I assure you that we will get to discuss and debate and hopefully pass all of these bills at the appropriate time. However, I am sure the gentleman is aware that Russia's war against Ukraine is driving up prices all over the world--Putin's price hike. Three weeks ago, the price of crude oil was trading at $115.25 per barrel. It closed yesterday at $96.47 a barrel, a decrease of $18.78 per barrel, or a decrease of 16 percent in almost a month. The average price for gasoline, a gallon of gas, last month was $5.01. It is now $4.57. It decreased 44 cents, or a decrease of 8 percent, in a month. Funny how that works. Cuts at the pump are half that of the price of crude, and we are shocked to know that major oil companies are raking in record profits. The House passed the Lower Food and Fuel Costs Act, which will help ease inflation, which the gentleman voted against and quipped against. This bill helps Americans save money at the gas pump by promoting local, renewable energy production, and it also expands access to E15. The House also passed the Consumer Fuel Price Gouging Prevention Act to prevent all corporations from prioritizing profits instead of increasing supply. It empowers the FTC to crack down on oil companies that excessively overcharge their consumers for gas just to boost their bottom line.…





