over the weekend, we got more bad news on the rising price of gas. Energy Secretary Samuel Bodman told us to expect high gas prices to continue for 2 to 3 more years. In his words, suppliers have lost control of the market. Every day drivers are getting socked with higher and higher prices at the pump and in some places gas prices are well over $3 per gallon. Worse yet, the situation only threatens to intensify as those summer driving months come into view. Consumers are understandably frustrated. They are worried. For most families, gas is a basic necessity, and rising gas prices simply put them over a barrel. They need a break. The Republican leadership is delivering a plan. Last Thursday, we unveiled our proposal to offer immediate short-term relief for American consumers, as well as a broader strategy to increase America's energy supply and to reduce our demand for oil. We propose giving taxpayers a $100 gas tax holiday rebate check so their hard-earned money goes back into their pockets instead of into their gas tanks. We also want to make sure consumers are protected against any price gouging or anticompetitive behavior by oil companies or other suppliers of energy. Our proposal includes strong Federal antiprice-gouging protection. These are two steps we can take right now to offer the consumer immediate relief. But for the midterm and for the long term, we need to get to the root of what is driving oil prices through the roof: basic supply and demand.…
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