Senator Stabenow Joins Residents at East Lansing Gas Station to Call for Action to Combat High Gas Prices

Press Release

U.S. Senator Debbie Stabenow today held a press conference with local residents at the H&H Mobil gas station in East Lansing to call for an end to taxpayer subsidies for oil companies and discuss measures to combat rising gas prices. With incredibly high gas prices across the state, Michigan families and small businesses are struggling while oil companies are collecting the largest corporate profits in history -yet taxpayers are still giving oil companies massive subsidies that add tens of billions of dollars to America's budget deficit.

As a Member of the Senate Finance Committee, Stabenow had an opportunity to question the oil company executives at a hearing last month, grilling the CEOs of the nation's five largest companies on why they could possibly need taxpayer handouts while collecting record profits. As Chairwoman of the Senate Agriculture Committee, Stabenow held a hearing earlier this year to investigate the effects of market manipulation on gas prices and to explore ways to strengthen American-made biofuel industries and other alternatives to foreign oil.

Senator Debbie Stabenow said: "Michigan families are now spending as much on gas as they are on health care and almost as much as on groceries to feed their families. Meanwhile, oil companies are collecting the largest corporate profits in history and to add insult to injury, are taking billions in taxpayer subsidies. We need to stop oil companies from padding their profits with taxpayer dollars, increase domestic drilling, get tough on market manipulators, and continue to promote clean energy that reduces our dependence on foreign oil and creates jobs in Michigan."

Jim Little, Owner of H&H Mobil said: "As a station owner, I think it is outrageous that big oil companies are getting billions in taxpayer subsidies while charging drivers record high prices at the pump. As a proud owner of a Chevy Volt, I am a strong supporter of alternative energy. I was the first Michigan gas station to install an electric vehicle charging station and the first in Ingham County to install an E85 pump. I want to thank Senator Stabenow for standing up to the big oil companies on behalf of Michigan families and business owners and supporting alternatives to gasoline."
Joe Duffy, Senior at MSU said: "Paying for college was hard enough before gas hit $4 a gallon. In addition to their record profits, Big Oil is still receiving billions in government subsidies. I want to thank Senator Stabenow for standing up for students across the country by fighting to eliminate subsidies for Big Oil to end the rewards for price gouging gas companies."

Marilyn Bush, Foster grandparent and Lansing resident said: "As a foster grandparent who is constantly driving from place to place, rising gas prices really hurt my family budget. I'm thankful for Senator Stabenow who is standing up to big oil companies and helping people like me."

At the press conference, Senator Stabenow called for an end to taxpayer giveaways to oil companies. Major oil companies made a staggering $36 billion in the first quarter of 2011 alone-nearly $3 billion every week-by taking advantage of Americans who are paying for their gas twice-first paying record high prices at the pump and then paying oil companies again on tax day. Instead of giving away billions every year in oil subsidies, Senator Stabenow voted to eliminate subsidies for oil companies last month in order to reduce the deficit, but the measure didn't get the 60 votes necessary to break a Republican filibuster. Stabenow remains committed to eliminating these subsidies once and for all as part of a long-term plan to reduce the deficit.

She also discussed the need for more domestic drilling. Earlier this year, Stabenow cosponsored "Use-it-or-lose-it" legislation to get oil companies to develop the 60 million acres of land they're currently holding but not using, in some cases just to keep their competitors from drilling there. Oil companies are drilling on less than 25% of federal lands they have leased.

Finally, as a long-time advocate for new clean energy technologies, Senator Stabenow emphasized the need for a fundamental change in America's energy policy to give consumers more choices beyond foreign oil. She is the author of the Charging America Forward Act to help put more advanced technology, highly fuel efficient vehicles on the road. Her bill provides a $7,500 consumer rebate for purchasing electric vehicles. It also extends medium and heavy-duty truck tax credits, and reauthorizes the advanced battery manufacturing program-a program that has already dramatically increased advanced battery production in the U.S., creating jobs here in Michigan.

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