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April 18, 2006 Clinton Calls on President to Take Action to Prevent Gas Price Gouging Senator Joins Colleagues in Letter to President, Calling for Immediate Action to Protect Consumers and Businesses New York, NY – In the face of skyrocketing oil prices, Senator Hillary Rodham Clinton today joined Senate Democrats, calling on President Bush to take immediate action to ensure that New Yorkers and Americans do not become the victims of price gouging at the pump this summer. In a letter to President Bush, Senator Clinton and her colleagues urged him to take action to support federal anti-price gouging legislation and renewed their call for a bipartisan energy summit to solve the dangerous problem of America’s dependence on foreign oil. The letter comes only days after Senator Clinton made a similar call to Department of Energy Secretary Samuel W. Bodman and released a county by county analysis showing the impact of projected summer gas price increases on New York.
“High oil prices are already taking their toll on New Yorkers and Americans. From small businesses to county governments, to schools, manufacturers and consumers – everyone is hurting under the pressure of increased prices at the pump and there is no relief in sight. Experts are already predicting an increase in prices of up to 25 cents over last summer, which could have an untold impact on communities and businesses,” Senator Clinton said. “It is totally unacceptable that New Yorkers are paying $3 or more at the pump for gas, but even more unacceptable that the Administration and the Republican leadership will not support legislation that would protect consumers against unscrupulous companies taking advantage of this already serious situation,” Senator Clinton said. “We must take long-term steps to end our dependence on foreign oil, but in the short-term we also need to ensure that New Yorkers are not fleeced this summer to pad the already high profits of oil companies.” [The text of the Senators’ letter is below] April 18, 2006
The Honorable George W. Bush
Dear Mr. President, We are writing to enlist your support in enacting strong consumer protection measures that will protect American consumers from price gouging at the gas pump this summer. You are undoubtedly aware of projections from the federal Energy Information Administration (EIA) that gas prices will rise 25 cents per gallon across this nation compared to last summer. In light of these projections, we believe a federal anti-price gouging law should be enacted before the summer driving season begins in earnest, this Memorial Day. Already, price gouging legislation (S. 1735) exists that has been cosponsored by nearly a third of the United States Senate, and endorsed by a number of state Attorneys General. This legislation would give federal and state regulators new authority to prosecute price gouging in the wake of national energy emergencies, as well as put in place measures to ban manipulation and enhance the transparency of our nation’s fuel markets. One of the hallmarks of this legislation is that it would also apply to the wholesale fuel markets—an important distinction, given that it is often the large vertically integrated oil companies that dictate the prices that gasoline retailers can charge. While the oil companies rake in record profits, it is often these retailers that bear the brunt of consumer anger. A strong federal price gouging law is only one element of the equation when it comes to putting our nation on the path toward greater energy independence. A comprehensive and smart approach to this vital issue of national security will help curb the tremendous volatility in energy prices that is impacting consumers, businesses and the American economy as a whole. We have thus far been disappointed by your Administrations’ lack of response to our invitation to co-host an emergency bipartisan national energy summit. This offer still stands. However, in the absence of leadership or cooperation from your Administration, we will soon be moving ahead with our own set of real solutions, which will spur the kind of innovation and investment America needs to secure its energy future for the 21st Century. Our oil dependency is one of the greatest economic and national security challenges faced by our generation. The status quo—in which the security of the United States and our domestic economy is left to the whims OF foreign regimes and companies that do not have the best interests of our nation at heart --is simply not an option. How quickly and aggressively we rise to meet this challenge will be one of the most important tests on which future generations of Americans will measure our leadership and resolve. As such, we hope you will join with us in acting quickly to protect American consumers from price gouging this summer and to vastly accelerate market penetration of biofuels, alternative fuels, and energy efficiency vehicles and technologies. We stand ready to work with you to develop a serious national strategy to curb America’s dangerous dependence on oil. Sincerely,
Senator Maria Cantwell ### |
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