Carney: it's Time for Long Term Solutions for High Gas Prices

Press Release

CARNEY: IT'S TIME FOR LONG TERM SOLUTIONS FOR HIGH GAS PRICES

Congressman Carney is working to secure long-term solutions to the high cost of gas. "Gas is over $4 a gallon in Pennsylvania, and Americans are looking for long-term solutions to high oil prices. We're working in Congress to make sure all options are explored to lower the price of gas. We've passed legislation to address the long term problems of energy speculation, and legislation to address the short term problems with mass transit reimbursements and the domestic supply of oil," said Carney.

Carney continued, "It's time for Big Oil take a backseat to the American family. For too long, Big Oil has been the darling of the Bush Administration and those days are over. I've met with heating oil distributors, who share my concern that our seniors on fixed incomes will be unable to afford to heat their homes this winter. Why are oil and gas companies increasing their supplies without giving a break to our families who are struggling to make ends meet? "

The U.S. House of Representatives has passed legislation to address both the long-term and short-term problem of high gas prices:

H.R. 6052, Securing Energy Through Public Transportation Act of 2008, gives grants to mass transit authorities to reduce public transit fares. This provides consumers with a cost-effective alternative to $4.07 per gallon gasoline. The bill's $1.7 billion in mass transit grants for the next two years would be used to expand transit services and mitigate operating costs of public transportation. It would be available to both rural and urban areas. With Congressman Carney's support, the bill was approved on June 26th by a vote of 322-98.

H.R. 6377, The Energy Markets Emergency Act directs the Commodity Futures Trading Commission to use its full authority and most potent emergency tools to curtail excessive speculation and other practices distorting the energy market. Rampant speculation has been cited as one cause of the spike in gas prices. With Congressman Carney's support, the bill was approved by a vote of 402 - 19 on June 26th.

H.R. 6022, the Strategic Petroleum Reserve (SPR) Fill Suspension and Consumer Protection Act, suspends the filling of the SPR starting June 30th and going through the end of the year. The SPR is nearly at capacity. By keeping more oil in the U.S. marketplace, we can increase the supply and drive down the price. This legislation passed with Rep. Carney's support on May 13th by a vote of 385-25.

Congressman Carney is also pushing for legislation that will bring further relief to Pennsylvania families. Carney is fighting for the U.S. House to pass the Responsible Federal Oil and Gas Lease Act, or "Use it or Lose it" legislation, which forces oil companies to produce oil and gas, or diligently develop, the 68 million acres of public land they already have leased.

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