Political Quotes

“I rise today to introduce legislation aimed at breaking oil's monopoly over our Nation's transportation system. I would like to thank Senator Lugar for helping develop and agreeing to cosponsor this important bill. The Open Fuels Standard Act of 2011 would introduce competition among fuels in the U.S. transportation market by ensuring that most new vehicles in the United States will be capable of running on a range of domestically produced alternative fuels. By introducing competition among fuels, the Open Fuels Standard, OFS, Act aims to bring bout significant reductions in the high prices paid by U.S. consumers at the gas pump and in our Nation's dangerous overdependence on foreign oil. According to the Department of Energy, this lack of competition imposes a ``monopoly premium'' of more than $200 billion on the economy each year--a direct transfer of U.S. wealth to the treasuries of OPEC countries and other foreign oil producers. Keeping this money within U.S. borders would sharply cut the U.S. trade deficit, safeguard U.S. household income, and provide capital and market incentive for investment in new U.S. energy infrastructure. The Open Fuels Standard Act requires that starting in 2015, 50 percent of new vehicles manufactured or sold in the United States be flex fuel capable--that is, able to run on non-petroleum fuels.…”