Congressman Yarmuth has come down hard on the oil industry in this time of energy crisis in America. He believes there must be a crack down on speculation in the oil market that inflates the cost of gas at the pump. Congressman Yarmuth cosponsored the "Use it or Lose it" legislation, which puts pressure on Big Oil companies to begin drilling domestically on the 68 million acres of reserves the companies currently lease from the federal government but choose not to drill on.
Congressman Yarmuth called on President Bush to suspend shipments of oil to the Strategic Petroleum Reserve (SPR) as a critical first step in relieving the rising cost of fuel. After the President refused to take action, the House and Senate both approved a bill supported by Congressman Yarmuth that would halt the SPR shipments.
Ultimately, Congressman Yarmuth believes the only long-term solution to America's energy crisis is a commitment to research and technological advancement of renewable, sustainable, clean sources of energy.