Tierney Blasts Republicans for Providing Subsidies to Oil Companies at Expense of Consumers

Tierney Blasts Republicans for Providing Subsidies
to Oil Companies at Expense of Consumers
Republican Leadership Passes Bill That Offers No Relief to
Working Families

Washington, DC - U.S. Congressman John F. Tierney (D-Salem) criticized the Republican Leadership in Congress for failing to provide relief to American families, schools, small businesses and truckers who are struggling to pay high gas prices. The U.S. House of Representatives voted today on the second Republican energy bill that provides subsidies and favors to already profitable gas and oil companies instead of relief to American consumers. Congressman Tierney voted against the bill (H.R. 3893), but it passed by a vote of 212-210.

"Skyrocketing oil and gas prices are hurting American consumers as well as our economy. The Bush Administration and Republican Leadership in Congress have turned their backs on American consumers and failed to provide relief from high gas prices and rising home heating costs," said Congressman Tierney.

In the wake of Hurricane Katrina, Americans across the country have faced skyrocketing price increases at the gas pump. Even before the hurricane, gas prices under the Bush Administration increased steadily. In 2001, the price of gasoline averaged $1.45 per gallon. Today, gas prices are at $2.92 per gallon and are projected to stay at this high level for at least the next six months.

"Since President Bush took office in 2001, home heating oil costs have nearly tripled, and natural gas costs have nearly doubled, nearing a crisis level for homeowners. Meanwhile, earnings for the oil industry are expected to jump 73 percent next quarter. American families deserve better," added Congressman Tierney.

H.R. 3893 does nothing to reduce gas prices, limits penalties for price gauging, fails to increase refining capacity and creates a taxpayer subsidy for oil companies. As a result, as the cold winter months approach, high prices for heating oil, propane, natural gas and electricity, as well as gasoline, are likely to be around for a long time.

"It is the American people who need relief at the gas pump and with their home heating costs, not the oil and gas industry. Democrats are unified in supporting an energy policy that helps American consumers by stopping price gouging and ending the massive subsidies to oil companies at the expense of consumers," concluded Congressman Tierney.

http://www.house.gov/tierney/press/energy10072005.shtml