Cantor Statement on the Price at the Pump
WASHINGTON, DC - Chief Deputy Majority Whip Eric Cantor (R-VA) released the following statement today regarding the increase in gas prices and its effect on American families and the economy:
"The recent increases in the price of gasoline clearly illustrate the need for America to take a new approach and achieve energy security for the sake of the American economy. The unstable and steep increases in the price at the pump create a burdensome tax on American families, workers and employers.
"The best way America can deal with short-term price increases at the pump is to get serious about a long-term solution for energy security. A long-term solution means supporting research into new energy technologies such as renewable fuels and fuel cells; having readily available, diverse sources of energy to reduce exposure to the volatility of energy markets; reducing regulations, such as the requirement for the production of 17 different blends of gasoline for different parts of the country; and increasing domestic energy production by exploring for energy in ANWR and the Outer Continental Shelf.
"This is where the contrast between Republicans and Democrats could not be sharper.
"With Democrat opposition, it took four attempts before Congress could adopt a national energy policy. Ten years ago, President Bill Clinton vetoed the effort to open ANWR for energy exploration. Had he not blocked this plan, America would be producing an estimated one million more barrels of oil per day.
"In October 2005, the House passed the Gasoline for America's Security (GAS) Act to promote conservation and encourage the development of more refineries to increase gasoline supplies and address increased prices. Every Democrat opposed it.
"So while Democrats make plans to demagogue this issue and attempt to score political points, American families should ask why they have opposed the very policies that can help prevent crises like this."