House Approves Legislation to Lower Gas Prices
Tuesday, May 13, 2008
 Printable Format
Washington, D.C.—House Majority Whip James E. Clyburn today released the following statement after passage of H.R. 6022, the Strategic Petroleum Reserve Fill Suspension and Consumer Protection Act.
"Today, the New Direction Congress passed legislation that will assist all Americans who are struggling to pay record high gas prices. The Strategic Petroleum Reserve Fill Suspension and Consumer Protection Act will aid those working families forced to choose between putting food on their tables or gas in their cars.
"H.R. 6022 will lower prices at the gas pump by temporarily suspending the fill of the Strategic Petroleum Reserve (SPR) until the end of the year. The SPR is 97 percent full, the highest level ever, with enough oil to meet our national security needs. Filling of the SPR takes thousands of barrels of oil off the market each day. A temporary suspension could reduce gas prices from 5 to 24 cents a gallon.
"With energy prices rapidly rising and our economy continuing to recede closer to a recession, Americans are in urgent need of relief at the pumps. H.R. 6022 will provide such relief and serve as an important step in moving our nation's energy policies in a New Direction."
|
