October 7, 2005—Today, Representative Franks (R-AZ) issued the following statement after the House passed H.R. 3893, the Gasoline for America’s Security (GAS) Act of 2005:
 
“Rising gas prices have become an ongoing issue in Arizona and across the country.  Today, House Republicans took action with the passage of the GAS Act of 2005,” Franks said.   “For many years I have been expressing my concerns that we import far too much of our oil from foreign sources – nearing 70% - and that represents a national security threat.  This bold plan will help reduce our dependence on foreign sources of energy.”
 
Highlights of the GAS Act:

• The Gasoline for America’s Security (GAS) Act of 2005 seeks to lower gasoline prices within the market system and without resorting to price controls.
  
• The GAS Act will realize this goal by increasing capacity, streamlining fuel supply, providing transparency in gasoline pricing, fighting price gouging, reducing bureaucracy, and revitalizing refineries.
  
• The plan takes action to lower the cost of gasoline over the mid- and long-term, and addresses some critically important national security concerns.
  
• Specifically, the GAS Act:
• Encourages new refineries to increase supply and address soaring gasoline prices;
• Limits “boutique fuels” that have propped up gasoline process by artificially limiting supply;
• Promotes new pipelines to get new crude oil and refined product to consumers at lower prices;
• Promotes conservation through carpooling and a fuel-efficiency awareness campaign;
• Bans price gouging in gasoline or diesel fuel sales; and
• Requires a Federal Trade Commission (FTC) study into credit card company processing fees, which may inflate consumer costs.
  
• The GAS Act continues the commitment of House Republicans to appropriately reform America’s energy policies to benefit the consumer.
  
• In conjunction with the Energy Policy Act of 2005, the Gasoline for America’s Security Act of 2005 addresses important issues to reduce our dependence on foreign sources of refined petroleum products and increase domestic production and conservation efforts.

Trent Franks is the Congressman from the 2nd Congressional District of Arizona.  He is a member of the House Armed Services Committee, the House Judiciary Committee and Vice Chairman of the Constitution Subcommittee.