“These skyrocketing gas prices are a reflection of the Republican energy plan – too little, too late for the American consumer, too much, too often for big oil,” said Lowey.  “We need a long-term strategy to lower gas prices and meet our energy needs, yet Republicans passed up a golden opportunity in major energy bills last year. Even proponents admitted they did little to reduce short-term energy costs.  That’s because those bills were little more than tax windfalls and giveaways to oil companies that have been making record profits over the past few years while American consumers continue to suffer.”

While American families feel the pain at the pump, oil company CEO’s reap the profits.  The oil industry is benefiting from Republicans’ misplaced priorities while American families are suffering.  According to the American Automobile Association’s Daily Fuel Gauge Report, families in New York are paying an average cost of $3.09 a gallon, up almost 80 cents from last year and 50 cents from one month ago.  Yet the Exxon Mobil Corporation, the world’s largest publicly traded oil company, announced yesterday that its first quarter profit is up 7% over last year’s to more than $8 billion.

“Democrats have a plan to give American families the relief they deserve.  I will continue pushing Congress to pass a serious, innovative plan to protect American consumers,” added Lowey.  “Congress must immediately consider both long-term solutions to rising gas and energy prices and additional short-term steps.” 

Congresswoman Lowey supports short-term solutions including repealing $8 billion in giveaways to big oil to help low-income consumers and small businesses; preventing, detecting, and punishing price gougers; and monitoring refining capacity to better anticipate and address price spikes before they happen. 

Lowey also supports long-term initiatives.  Conservation efforts such as raising fuel economy standards for cars and light trucks, alternative energy sources, such as ethanol and new refined gas reserves would help preserve energy supplies and keep prices lower in the future.

Congresswoman Lowey is a co-sponsor of the following energy-related bills:

H.R. 3762, introduced by Rep. Boehlert, would raise the fuel economy standards of cars and trucks so that domestic use of oil for automobiles can be reduced by 10% by 2016. 

H.R.4409, introduced by Reps. Kingston and Engel, would encourage conservation policies as well as the expansion of alternative fuels, including cellulosic ethanol.  It would authorize funds for demonstration programs, increasing the number of flex fuel cars and eliminate tariffs currently placed on ethanol produced in other countries such as Brazil. 

H.R. 4479, introduced by Rep. Higgins, would repeal about $8 billion in tax breaks and subsidies for the oil and gas industry and direct them to fully funding LIHEAP over the next two years and giving tax credits to farmers and small business owners for increased energy costs.  

H.R. 3936, introduced by Mr. Stupak, would target potential gouging.

H.R. 3792, introduced by Rep. Brown, would create three to five refined gas reserves located in different parts of the country, which could be tapped in the event of an emergency or at the request of a Governor.