Home » DPC Fact Sheets »
DPC Staff Contact: Sara Mills (202) 224-3232
DPC Press Contact: Barry Piatt (202) 224-2551
Senate Democrats are Working to Lower Energy Prices
Even before Hurricanes Katrina and Rita hit the Gulf Coast, energy prices had risen to record highs. While the Bush Administration has said it can do very little to ease energy prices in the short term, Democrats have been working to find ways to immediately reduce prices and lessen the impact on American consumers, business and agriculture. Democrats also support a sounder and more sustainable national energy policy that will make America energy independent by 2020 and more secure against supply disruptions. Democrats have announced plans that will help consumers now and prevent price spikes in the future.Protecting consumers today from price gouging
Banning gasoline price gouging and improving market transparency. Senator Cantwell and 26 Democratic cosponsors introduced the Energy Emergency Consumer Protection Act of 2005 (S. 1735), which would establish a federal ban on price gouging for oil, gasoline, and other petroleum products during times of national energy emergencies declared by the President. This bill would provide civil and criminal penalties for price gouging, ban market manipulation, and require greater transparency in oil and gasoline markets. The bill was introduced in the Senate on September 20, 2005.Imposing federal penalties for price gouging. Senators Bingaman and Bill Nelson introduced the Price Gouging Act of 2005 (S. 1744), which would give federal authorities power to prosecute oil and gasoline suppliers who overcharge for motor fuels in a declared disaster area. The bill also sets criminal and civil penalties for suppliers convicted of price gouging. S. 1744 was introduced in the Senate on September 21, 2005.
Investigating gasoline price gouging now. Senators Pryor, Mikulski, Salazar, Bill Nelson, Harkin, Corzine, Stabenow, and Obama introduced an amendment (S. Amdt. 1703) to the Commerce and Justice, Science, and Related Agencies Appropriations Act of 2006 that would require the Federal Trade Commission to conduct an immediate investigation into nationwide gas price spikes in the aftermath of Hurricane Katrina. The Commission would be charged with investigating: any evidence of price gouging; changes in the average monthly profit levels for producers, distributors, and sellers before and after Hurricane Katrina; and the effects of such price gouging on the United States economy. The amendment was introduced in the Senate on September 13, 2005 and was passed by unanimous consent on September 14, 2005.
Senator Mikulski and 31 Democratic Senators sent a letter to the President on October 7, 2005 urging him to bring the oil companies' CEOs to the White House and demand that they lower their prices.
Easing energy prices for consumers
Providing a tax rebate to American gas consumers. Senators Dorgan, Dodd, and Boxer introduced the Windfall Profits Rebate Act of 2005 (S. 1631), which would impose a temporary windfall profit tax on large oil companies and return the tax collected back to American consumers in the form of a rebate. Profits used toward investments in new refining capacity and alternative energy infrastructure would be exempted from the tax. The bill was introduced in the Senate on September 7, 2005.Aiding low-income families with high energy costs. Senators Reed and Kerry introduced an amendment (S. Amdt. 2033) to the Defense Appropriations Act of 2005 that would increase funding for the Low Income Housing Energy Assistance Program (LIHEAP) by $3.1 billion. The amendment was defeated by a vote of 49-50 on October 5, 2005.
Making America energy independent
Creating a strategic gasoline and jet fuel reserve. Senator Durbin introduced the Strategic Gasoline and Fuel Reserve Act of 2005, which would establish a 47.5 million barrel reserve of gasoline and jet fuel. The bill was introduced in the Senate on September 29, 2005.Cutting dependence on foreign oil. Senators Cantwell, Feinstein, Reid, Durbin, Obama, Salazar, Dorgan, and Kerry introduced S. Amdt. 784 to the Energy Policy Act of 2005. The amendment would have required the President to present a plan to reduce imports of foreign oil by 40 percent by 2025. Senate Republicans opposed this amendment, and it was not included in the Energy bill.
Enacting a national renewable electricity standard. Senator Bingaman and a bipartisan group of 14 cosponsors introduced S. Amdt. 791 to the Energy Policy Act of 2005. The amendment would have required electric utilities to produce 10 percent of their electricity from renewable sources by 2020. The Senate adopted this amendment, but House Republicans removed it from the Energy bill in conference.
Creating a tire fuel efficiency program. Senators Schumer, Cantwell, and Lautenberg introduced S. Amdt. 811 to the Energy Policy Act of 2005. The amendment would have provided for a national tire fuel efficiency program. Proper inflation of tires and replacing old tires with fuel-efficient tires could save 470,000 barrels of oil per day by 2013. The Senate adopted this amendment, but House Republicans removed it from the Energy bill in conference.
