"The Republican Leadership is shocked that price gouging took place in the wake of Hurricane Katrina. Of course they turned a blind eye to gouging by big oil and the OPEC cartel, in the months and years before the storm hit.

"In the last four years the top five oil companies have made $254 billion in profits; Exxon/Mobil made $14 billion in the quarter before Katrina. And yet this bill does nothing to provide price relief to consumers or prevent gouging. Big oil gets a pass again.

"Oil companies and refiners point the finger at the retailers. With rare exception the gouging is not at the retail level. Oil producers are getting 46 percent more profit off of every gallon of gasoline than they did last year. Refiners are getting a hefty 255 percent more profit than they did last year from each gallon of gas.

"The oil industry has consciously colluded to close refineries and squeeze supply to drive up the price of gas. It’s the same thing Enron did in California to rob electricity ratepayers on the west coast.

"It’s not environmental laws or regulations that have restricted the number of refineries built in America. In fact, only one permit was filed with the EPA over the last 30 years. The president offered to let oil companies build refineries on closed military bases waving all environmental laws. But big oil said, ‘No thanks.’ The COO of Valero, whose stock went up 263 percent in just one year, said when you look at the rate of return they’re currently enjoying, it’s just not worth it to increase capacity.

"Refineries have been closed by mergers and a conscious decision by oil company CEOs to keep the price of gas high, and it’s about to destroy small businesses and consumers across America. With a second shot at an energy bill this year, and a nation struggling under inflated gas prices, you would think Congress could provide real relief for Americans, yet Republican leaders still refuse to take on their benefactors in the oil industry.

"America needs short-term measures to protect consumers and businesses from gouging at the gas pump, and longer-term proposals to promote alternative technologies and reduce our reliance on foreign oil from Saudia Arabia and the OPEC cartel."

DeFazio offered alternative legislation that included long-term and short-term proposals to address rising gas prices. It was not allowed to be debated on the House floor. DeFazio’s legislative package 1) Imposes a windfall profits tax on oil companies; 2) Authorizes the President to impose price caps in response to market manipulation; 3) Urges the President to file a trade complaint with the WTO against OPEC for illegally colluding to raise oil prices; 4) Puts a moratorium on oil company mergers; 5) Requires minimum inventory levels to smooth out supply disruptions; 6) Authorizes the use of the strategic petroleum reserve; 7) Reinstates the ban on exporting oil from Alaska; 8) Mandates increased fuel efficiency standards for cars; and 9) Provides tax credits for the purchase of hybrid and alternative fuel vehicles.

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