Speeches
Pelosi: ‘Energy Independence is Essential to Reducing the Price at the Pump’
05/08/2007
“This weekend, the nationwide
average of $3.07 per gallon set a record – exceeding last August’s previous
record. And I’m particularly concerned because the highest price – $3.49 per
gallon – is what is being charged in my district of San
Francisco.
“With Memorial Day travel and the
start of the summer driving season only a few weeks away, drivers are paying a
heavy price for the Bush Administration’s failure to enact a comprehensive
energy strategy.
“Years of the Bush
Administration’s policies that have favored Big Oil over the consumers have
resulted in record dependence on foreign oil, leaving American families and
businesses to pay even higher prices.
“This Congress, under the
Democratic leadership, is working to make up for years of inaction, taking
America in a new direction that helps bring down the cost of gas and promotes
energy independence. Energy independence is essential to reducing the price at
the pump.
“In the first 100 hours of the new
Congress, the House passed legislation to roll back $14 billion in subsidies for
Big Oil, when Big Oil was already enjoying record profits. Our proposal
reinvests that money at home in clean alternative fuels, renewable energy, and
energy efficiency.
“A number of House committees are
taking action, holding hearings over the next few weeks to take a comprehensive
look at how we can fight price gouging; the development of clean alternative
fuels; the impact our dependence on foreign oil has on our economy; and how we
can put new technologies to use to achieve greater energy
efficiency.
“I’ve asked Chairman Waxman of the
Oversight and Government Reform Committee to look into this issue. Chairman
Dingell of the Energy and Commerce Committee will quickly mark up the Stupak
bill on price gouging.
“We have our Select Committee on
Energy Independence and Global Warming moving forward with its recommendations,
and we have Mr. Conyers, the chairman of the Judiciary Committee, having
anti-trust hearings on the subject of Big Oil.
“We have elevated this issue by
creating the Select Committee, and we will make this July 4th Energy
Independence Day with a package that will do the following things: provide
economic incentives to develop and use clean alternative fuels; help our
nation’s farmers fuel our energy independence – we will send our energy dollars
to the Midwest not the Middle East; encourage an energy innovation economy that
will create new jobs and help small business; and enhance technology driven
energy efficiency.
“We will lead our nation in a new
direction toward energy independence that strengthens both our economic and national
security.”