The following is Congresswoman Capps’ Statement on the recent high gas prices on the Central and South Coast:

“Central Coast families and businesses are suffering as gas prices continue to spiral out of control.  Unfortunately, much of the blame can be attributed to the Bush Administration and the Republican Congress’ failed energy policy that rewards oil corporations with lucrative tax breaks but does almost nothing to bring down demand and encourage alternative energy production.”

“I have been working for years to promote a responsible energy policy that works to increase energy efficiency and invest in alternative and renewable energy sources.  If we had invested in common sense solutions such as higher CAFÉ standards, mass transportation, and hybrid technology years ago, as I advocated, the pain at the pump would be considerably less.

“In addition, for almost a year now I have been urging the President, the Department of Justice, and the Federal Trade Commission to investigate suspicious gas price spikes. Last week I voted for legislation would impose up to $150 million in penalties for energy companies found guilty of price gouging.

“I have also called on the Energy and Commerce Committee to hold hearings on gas price spikes.  I have also co-sponsored tax credits for gasoline, diesel, or natural gas that small businesses, farmers, and fishermen use (H.R. 3944).”