Johnson Holds Gas Prices Roundtable
Press Release
Johnson Holds Gas Prices Roundtable
U.S. Senator Tim Johnson (D-SD) today held a roundtable discussion on gas prices and energy costs and how it's affecting different segments of the Sioux Falls community. Participants in the discussion included education and transportation officials, volunteer and non-profit groups, as well as small business owners.
The energy crisis has had a profound impact on energy prices in the Sioux Falls area. In the past year, diesel fuel has risen by $1.33 per gallon and regular gas prices are up by $0.82, and heating and cooling utility costs have risen dramatically. These higher costs have also had indirect effects on overall consumer prices because many goods and services use energy in the production process or energy costs affect transportation costs that are passed through to consumers.
"The high cost of energy is hurting families, small businesses, and school districts, while placing more hurdles before social service groups who provide an important safety net to those falling behind in a slowing economy," said Johnson during the meeting. "Energy costs are placing burdens on our economy, making it more difficult for businesses to expand and raising costs for getting our kids to and from school and providing much-needed services for our seniors and most vulnerable citizens."
Johnson has been working hard in the Senate to lower energy prices and help alleviate the burden placed on South Dakotans. He has supported short-term solutions to quickly lower energy costs, such as withdrawing 70 million gallons of oil from the U.S. government's reserves to immediately reduce gas prices by injecting a quick stream of supply into the fuel chain, as well as limiting the influence of market speculators in oil futures markets, which could lower the price of oil by $30 to $40 per barrel.
Johnson has also been a strong advocate of long-term energy solutions, such as opening up the Outer Continental Shelf to drilling in order to maximize the United States energy-producing capacity in an efficient and effective manner, and investing in renewable and alternative energy resources.
"We can't just focus on one solution; we need to focus on all solutions: drilling, controlling market speculators, and investing in renewable energies," said Senator Johnson.
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