Michaud Statement on Expected House Action on Legislation to Suspend Filling of SPR to Lower Gas Prices

Press Release

Today, Congressman Mike Michaud issued the following statement in reaction to the announcement that tomorrow the House of Representatives will take up H.R. 6022, the Strategic Petroleum Reserve Fill Suspension and Consumer Protection Act. H.R. 6022 would direct the President to temporarily suspend the filling of the Strategic Petroleum Reserve (SPR) through the end of the year. The bill is expected to pass the House tomorrow.

"I recently joined my colleagues in calling on President Bush to take this action. Even though we are facing record oil prices every day, the President has consistently refused calls to suspend the filling of the SPR. The bottom line is that the American people are hurting and they need relief.

"According to experts and the Department of Energy, suspending the filling of the SPR would lower both oil and gas prices immediately. In 2000, after such action, the price of oil dropped by one-third - from $30 to $20 per barrel.

"The SPR has been tapped or temporarily suspended before by President Bush, President Clinton, and the first President Bush. This should be something that the President supports and that we could move quickly on in order to make a difference for millions of struggling Americas. I am hopeful that tomorrow both the House and Senate can pass this measure and that the President will change his position."

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