Press Releases
Brendan Daly/Nadeam Elshami
202-226-7616
06/13/2008
Pelosi Statement on Largest Increase in Consumer Prices in Six Months
Washington, D.C. -- Speaker Nancy Pelosi issued the following statement today after the Department of Labor reported that consumer prices rose by 0.6 percent, the largest increase in six months:
“Today’s economic news that consumer prices rose largely due to record energy prices is a direct consequence of allowing energy companies write our national policy. That approach – as illustrated in the Cheney Task Force – has resulted in record profits for the oil industry, and record prices for American consumers.
“The New Direction Congress has already passed legislation to help lower gas prices by postponing purchasing oil for the Petroleum Reserve, and we raised fuel efficiency standards for the first time in over 30 years. In the coming weeks, we will offer additional solutions to cut the cost of energy and reduce our dependence on foreign oil. We will continue to press for House-passed legislation that invests in clean, renewable, and efficient energy technologies and cracks down on Big Oil and others who artificially inflate the price at the pump.
“We also will help millions of Americans who are feeling real economic pain. We have put Recovery Rebates into the wallets of 130 million Americans. We will also extend unemployment benefits to help 3.8 million Americans and in fact, the entire economy. Every $1 spent on unemployment benefits generates $1.64 in new economic demand.
“Jumpstarting and rebuilding this economy will require bipartisan cooperation, and I urge the President to join us in finding solutions.”