New Opec Oil Cutbacks Reveal Bush Oil Strategy as Utterly Folly Says Markey

NEW OPEC OIL CUTBACKS REVEAL BUSH OIL STRATEGY AS "UTTER FOLLY," SAYS MARKEY

In response to the surprise announcement by the Organization of Petroleum Exporting Countries (OPEC) of a greater-than-expected cut in oil production of 1.2 million barrels a day, Representative Edward J. Markey (D-MA), a senior Member of the House Energy and Commerce and Resources Committees, today issued the following statement:

"The OPEC cartels' announced cut in oil production signals the end of the pre-election dip in oil and gasoline prices that American consumers have enjoyed since August.

"This is the first OPEC production cut in nearly two years, but it demonstrates that the utter folly of the Bush Administration relying on the oil industry to free us from our addiction to oil. Is it any surprise that after six years, the oil industry has not freed us of the oil cartel with which they work so closely? The Bush Administration made its decision years ago to use its power to get things done for the oil industry, not the public, and they keep tipping American consumers upside-down and shaking money out of their pockets with expensive gasoline and home heating oil.

"Meanwhile the Administration is ignoring the obvious. Since two-thirds of the oil America consumes goes into gasoline tanks, we can take a giant step towards energy independence simply by making our cars and SUVs more fuel efficient.

"The technology already exists to do this today. Simply deploying hybrid technologies would allow new cars and SUVs to become 30-50% more energy efficient than current models. Unfortunately, President Bush and Republican leaders in Washington have fought legislation to mandate stronger fuel efficiency standards, which has made America more vulnerable to the OPEC cartel. We need a new direction in Washington, which restores America's role as a technological leader in efficiency and in renewable technologies to to wean our country from its addiction to oil."

http://markey.house.gov/index.php?option=com_content&task=view&id=2326&Itemid=141