On the recordMay 10, 2011
1 year after the Deepwater Horizon oil spill, Americans are paying record gas prices. In northern Virginia, gas that used to cost $3 per gallon now costs more than $4 per gallon. This gas price hike is a result of instability in the Middle East and possible oil speculation and is a reminder of our dangerous dependence on foreign oil. Sadly, our Republican colleagues are not advancing legislation to help our hard-pressed consumers. Their plan would line the pockets of Big Oil, which saw its profits skyrocket 30 percent in line with rising gas prices. Fortunately, there are positive steps we can take to promote energy independence in America and to protect consumers: improve vehicle efficiency, boost production of domestic renewable energy, and convert oil industry tax breaks into gas price relief for our consumers. America owns 1.5 percent of the world's oil but consumes 22.5 percent; so we can't drill our way to energy independence. The only way to end our dependence on foreign oil and reduce gas prices is by improving automobile efficiency and developing new sources of clean, domestic energy. Energy independence is going to depend on reducing our oil consumption and shifting to domestic forms of energy like wind, solar, biofuels, and gas. Energy independence will save consumers money and protect us from the instability of the Middle East. At the end of 2010, Congress extended tax credits for biofuels and the production of wind and solar energy.…





