http://craig.senate.gov/press/

For Immediate Release:
April 2, 2004

Energy, and Time: They're A-Wastin'

by Senator Larry Craig

The last time you filled the gas tank of your car, did you keel over when you saw the price? When your heating bill showed up in the mail, did it take a forklift to bring it to your door? Probably not, but for many Idahoans, the cost of energy is nearing similarly dramatic levels, and no one is unaffected.

Throughout much of Idaho, gasoline prices are now inching past $1.80 per gallon, and the national average is now at an all-time high. Natural gas prices are also nearing all-time highs, and it isn't hard to see the effects of these high prices on the economy.

If it costs more to fill up your tank or heat your home, you might drive less, and you'll certainly have less money to spend on other essentials like clothes and food. Retailers and other businesses suffer a double-whammy, simultaneously losing customers and paying more to have goods and supplies delivered to their stores. If they lose enough business, they might have to let some of their employees go, or at the very least, stop hiring new ones.

In the past, to offset the high costs of jet fuel, some airlines added a fuel surcharge to the price of a ticket. Some hotels added an "energy charge" to room rates because their electricity bills were skyrocketing.

This is hardly a description of a healthy economic environment. In a recent Gallup poll, 64 percent of American investors said high energy prices were hurting the economy "a lot," more than outsourcing, taxes, or any other factor. When the cost of doing business gets too high in America, and energy prices are significantly lower outside the U.S., businesses are naturally going to look for ways to cut their costs. Some are going to be tempted to leave.

Of course, all this begs the question, "Who is responsible for the high cost of energy?" In addition, many have asked why President Bush doesn't step in to solve our energy problems.

"Big oil" is not responsible. Over the last 30 years, there have been 29 different investigations into the price of gasoline and price fixing, conducted by the U.S. Department of Energy, the California Energy Commission, the Connecticut Department of Consumer Protection, and numerous other state, federal, and non-governmental agencies. None have found any evidence of price gouging by oil companies. Some found that the reason for high gas prices was because (Surprise!) demand exceeded supply, as is the case today.

President Bush is not responsible. Three years ago, the President sent Congress a comprehensive energy proposal, to get the United States back in the business of producing energy. His plan sought to boost energy production, foster research into new energy sources, and diminish our dependence on foreign sources of oil, all while encouraging conservation and raising efficiency.

Finally, last year, Congress took action. But we didn't finish the job. The House passed an energy bill; however, the Senate did not. We came close, but a few Senators were swayed by the irresponsible naysaying of radical, anti-growth, environmental groups. Now, at the precise moment our economy is poised to take flight, the Senate seems to be asleep at the wheel.

The Senate has failed to pass an energy bill despite an existence of a majority of Senators who would vote to pass the current energy bill. Indeed, more than 50 percent of Senators voted to move the energy bill to passage. But instead of passing the bill, a minority in the Senate refused to limit amendments to the bill and guarantee a final vote for or against passage. In order to override the minority, energy bill supporters were required to obtain 60 votes, but came up short by three. 57 Senators wanted to proceed to pass the energy bill but could not do so because 43 Senators did not.

We need to stop the political gamesmanship and pass the energy bill so that America can have an up-to-date policy that protects jobs, protects quality of life, and protects national security � now!

[30]