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U.S.
Senator Member of the Agriculture, Energy and Veterans Affairs
Committees |
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For Immediate
Release November 9, 2005 |
CONTACT: Cody Wertz – Press Secretary 202-228-3630 Jen Clanahan – Deputy Press Secretary 303-455-7600 |
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| Sen. Salazar Hears From CEO’s and Farmers on Cause & Effect of High Fuel Costs WASHINGTON, D.C. – With high gasoline prices still denting the wallets of consumers across Colorado and America, the Senate today held two high-profile hearings on soaring energy costs to get answers from the CEOs of the oil industry and hear the pain-at-the-pump stories of Colorado’s agriculture producers. In the hearings, United States Senator Ken Salazar sought specific answers on high fuel costs and price gouging and their impact on American consumers. In an historic joint hearing of the Senate Commerce and Energy Committees, Senator Salazar pressed oil industry CEOs on the causes of high fuel prices and on their companies’ investments in renewable energy. “There are real world implications to these high prices – namely that consumers, especially farmers, are hurt by them,” said Senator Salazar. “These prices are undermining the stability of farming operations in Colorado and across the country – this is an issue that must be addressed.” Executives appearing before the joint Energy-Commerce hearing were:
The data in the following table on oil industry revenues and profits was gathered from media and corporate reports:
While the CEOs testifying before the joint Committees hearing today failed to provide specific explanations for high gas prices, all five indicated some level of commitment toward pursuing renewable and alternative fuels, such as ethanol, biodiesel, cellulosic ethanol and other renewable fuels. In addition, after hearing directly from farmers, ranchers and rural Coloradans during his conversations in all 64 of Colorado’s counties, Senator Salazar requested a hearing on the negative impacts of high fuel costs before the Senate Agriculture Committee, which Committee Chairman Saxby Chambliss (R-GA) granted. “Each day, this energy crisis continues to drive farmers and ranchers into deeper debt, putting the life of our rural communities at risk. This is a crisis that is undermining the stability of farming operations in Colorado and across the country – it is an emergency that must be addressed,” said Senator Salazar. During the hearing, the Committee heard testimony from Mr. Ryan Neibur, a fifth-generation farmer and CSU alumni from Burlington, CO. Mr. Neibur traveled to Washington at the invitation of Senator Salazar to testify on the effects of these high fuel prices on his farm and farmers across Colorado. During his testimony, Neibur noted the 155 percent increase in the cost of diesel fuel from $1.10 per gallon in December 2003 to $2.85 per gallon in October 2005. In addition, Mr. Neibur discussed the effect of rising natural gas prices on the cost of Anhydrous Ammonia and liquid Nitrogen, rising from $295 per ton to $495 per ton from 2003 to 2005, an increase of 68 percent. Mr. Neibur testified to the Committee, “There is no doubt in anyone’s mind in my area that the rural economy is deteriorating because of declining commodity prices and skyrocketing input costs as a result of higher energy costs. Farmers and ranchers are waiting for a clear signal that Congress and the Administration are taking seriously the economic crisis resulting from high energy and fuel costs, and that something will be done to address the problem.” The Agriculture Committee hearing proved two things: one that gasoline, diesel and natural gas prices are hurting farmers across the country and two that farmers need emergency assistance now. Senator Salazar has already introduced a bill, S 1692, with Senator Conrad (D-ND) that would provide emergency assistance to farmers and ranchers in the wake of staggering fuel prices. “This hearing proved beyond a doubt that high fuel costs have caused an immediate national crisis for our farmers and rural communities,” said Senator Salazar. “Whether it is the assistance bill already pending before the Senate or another version we need to get our farmers help now and then address long-term solutions.” # # # |
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