Press Releases
Brendan Daly/Nadeam Elshami
202-226-7616
03/03/2008
Pelosi Statement on Oil Prices Reaching a World Record High
Washington, D.C. – Speaker Nancy Pelosi issued the following
statement today as the price of oil reached a world record high of $103.95 per
barrel, higher now than in 1980, when adjusted for inflation:
“Americans are now paying the price for years of a failed
energy policy that has resulted in record energy costs, a dangerous dependence
on foreign oil, and the rising threat of global warming. The price of a barrel of oil is now four
times higher than it was when President Bush took office and more expensive
than in 1980.
“The New Direction Congress has begun to break with the
failed energy policy of the past by enacting the first increase in fuel economy
standards in 32 years, dramatically boosting efficiency standards for
buildings, lighting, and appliances, and investing in homegrown biofuels. This year, we again seek to repeal billions
of dollars in unnecessary subsidies given to Big Oil at a time of record profits
and invest these savings in clean, renewable energy initiatives that will
create good-paying green jobs. I am
hopeful that the Senate Republicans and the President will work with us to pass
this critical legislation to save more than 100,000 jobs in the renewable
energy sector, and is vital to creating hundreds of thousands more.
“