Hooley Votes to Relieve Consumers from Being Pinched at the Pumps
Press Release
Hooley Votes to Relieve Consumers from Being Pinched at the Pumps
Today, Congresswoman Darlene Hooley (OR-05) joined her colleagues in the U.S. House of Representatives in passing the second of two pieces of legislation this week to provide much needed relief for consumers at the gas pump. With strong bipartisan support, the House passed H.R. 1252 by 284 to 141. Yesterday, the House passed H.R. 2264 by 345 to 72.
H.R. 2264 authorizes the Justice Department to take legal action against OPEC state-controlled entities that participate in actions to limit the supply or fix the price of oil. H.R. 1252 allows for the investigation and punishes those who artificially inflate the price of gasoline.
"As family farmers, trucking companies and other businesses that rely heavily on gasoline are pinched at the pump, oil companies posted record profits of over $30 billion for the first quarter of 2007," said Hooley. "Allowing the FTC to punish individuals for artificially inflating gas prices should bring immediate relief to consumers."
American consumers are paying an all-time record high of $3.22 a gallon on average for regular gasoline nationwide - more than double the cost in 2001 and up 89 cents from the beginning of 2007. This number increases for Oregon families, where Pacific Northwest consumers are paying closer to $3.40 a gallon for regular gasoline.
"The federal government has an obligation to protect American consumers and to put their interests over those of foreign drug cartels. Despite broad bipartisan support in both the House and Senate, President Bush is refusing to hold OPEC accountable and has issued a veto threat against the measures passed this week by the House," added Hooley.
Earlier this year, the U.S. Congress voted to roll back $14 billion dollars in taxpayer subsidies for oil corporations, which will now be used to reinvest in clean, alternative fuels, renewable energy and energy efficiency.
Both pieces of legislation now head to the Senate for further consideration. President Bush has threatened to veto both measures.
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