Ted Poe: “the price of gasoline goes up every day, and Congress is partially to blame. The price of crude oil is increasing…”

“the price of gasoline goes up every day, and Congress is partially to blame. The price of crude oil is increasing because demand is increasing. Our domestic energy supply cannot meet that demand. The global demand for oil is also rising with the industrialization of China. And increased demand for oil leads to increased prices for many products, including products made out of plastic. The problem is that Congress has made it difficult for our supply to meet that demand. There is a solution to the problem. The solution is to increase our supply by exploring domestic energy sources and drilling in ANWR. Like it or not, crude oil is still the energy base of our Nation. Unlike every other country on the planet, the United States does not take advantage of its own natural resources. When Congress abolished tax credits for domestic exploration and production, Congress effectively abolished reasonable oil prices and then raised taxes on oil companies to $18 billion, taxes that are eventually passed on to us, the consumer. Thus, higher prices at the pump. And this Congress decided to even award Venezuelan Dictator Chavez and his nationalized oil company with a large tax break, a tax break they did not give to American oil companies. It's common knowledge that, if you tax something, you're going to get less of it. If you tax oil, you get less of it. Less of what? Less production and less crude oil. Less oil on the market equals higher prices at the pump.”