Congressman Zach Wamp, Third District of Tennessee, Link to Home Page
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Instability and Consumption Contribute To Rising Gas Prices

 
October 19, 2004

While gas prices are still not as high here as in other countries, the American people and our economy depend on the availability of affordable gasoline.  We need a national energy policy that gives the United States more control over energy prices, including gasoline.   

 

Our increasing dependence on foreign oil has left American consumers more vulnerable to price fluctuations in the international market.  Only 2% of the world's oil reserves are located in the United States.  Political instability in Nigeria, which is the world's tenth largest oil producer, has contributed to rising gas prices.  The hurricanes in Florida have also increased pressure on the market and contributed to rising costs.

 

Another factor in the rising cost of fuel is America's increasing consumption of gasoline.  Even as prices have been rising, Americans continue to consume more and more gasoline.  To lower the cost we must increase the supply of oil to meet the demands of the consumer.  As a new member of the House Policy Committee, Chairman Cox has asked me to develop an energy policy for the 109th Congress focusing on energy independence and security.  We need to accelerate the President's Hydrogen Economy and promote the use of hybrid cars as a transition to hydrogen-fuel cell cars that do not use gasoline.

 

I look forward to pushing and implementing a comprehensive and responsible national energy policy that addresses our need to increase domestic production while reducing our demand.

 

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