Energy Tax Hike Means Higher Gas Prices

ENERGY TAX HIKE MEANS HIGHER GAS PRICES -- (House of Representatives - February 26, 2008)

(Mr. SMITH of Nebraska asked and was given permission to address the House for 1 minute and to revise and extend his remarks.)

Mr. SMITH of Nebraska. Mr. Speaker, this week the House will, for the third time, debate an energy bill which actually raises gas prices for the American people, sends manufacturing jobs overseas, and increases our reliance on foreign energy. This energy tax hike will raise taxes on domestic energy producers, in essence making it more difficult and expensive to produce American energy for American consumers.

As you know, oil has reached and broken the previously untouched benchmark of $100 a barrel, and the average national price of gasoline has gone up 16 cents in just 13 days. In my State of Nebraska, gas prices are hitting $3.14 in Grand Island, and in Scottsbluff they're hitting $3.08.

The American public is deeply worried about the rising cost of energy, yet we stand on the verge of making it worse by stubbornly going forward with this legislation. It's simple, really; raising taxes on American energy leads to higher gas prices and a greater dependency on foreign sources of energy.

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