On the recordApril 10, 2008
while we debate a bill about beaches today, I am again appalled that the majority has once again missed an opportunity to address one of the biggest problems confronting our constituents, rising energy costs. It is reported today that gasoline prices reached a new all time high of $112 a barrel. Yet, we have let another week here pass without doing anything to confront this challenge. Not a week goes by when I am not asked about rising energy prices. These increased costs affect everyone in our society. But none are more affected by these increased costs than some of our nation's most poor. On average, the nation's working poor spends approximately 13 to 30 percent of their yearly income on energy costs, and as prices rise so will the amount of their income spent on energy. A large number of factors combine to put pressure on energy and gasoline prices, including peaked U.S. oil production, increased world demand for crude oil, and U.S. refinery capacity that is inadequate to supply gasoline to a recovering national economy. These are serious problems that will not go away with time, and they require real solutions that will restore American energy independence and help ease the pain of record price fill-ups. However, the majority in Congress has failed to do anything that would address any of these factors contributing to high prices.
Source
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