“I would like to first thank the Chairman and Ranking Member for holding this important hearing regarding the record crude oil prices and the adverse impact they are having on Americans - Americans who are being forced to change their way of life, being forced to choose between paying bills, buying prescription drugs or putting gasoline in their vehicles.     

“Mr. Chairman, I represent a large and rural district in the great state of Arkansas.  My district spans 21,000 square miles and 29 counties.  It is not uncommon for my constituents to drive 50 miles or more – each way to and from work.  And in most cases they commute these distances for a job that pays well below the national average.  Hard working Americans who are trying to do the right thing by working to put food on the table, to keep the lights on, and to provide for their families – are being devastated by these record gas prices. 

“In order to see true reductions in prices, we will have to either increase supply or decrease demand – ideally both.  I strongly support the continued development and use of ethanol and bio-diesel as a way to reduce the demand on costly fossil fuels.  And, as we continue working to increase the use of bio-fuels, we must make the necessary investments to develop our nation’s infrastructure to support an increased use of ethanol and bio-diesel.  I’m committed to working with my colleagues on both sides of the aisle to make these investments to advance alternative fuels, which will provide Americans with a choice when they go to the pump. 

“The reality is this: the energy bill, which I voted for, authorizes $100 million for grants to be used to develop bio-mass refineries, which would advance the use of alternative and renewable fuels for the entire 2007 fiscal year.  This funding is authorized, but not yet appropriated.  And yet we send $279 million per day to Iraq.  And I want to make sure the American people understand that while there is a lot of talk these days about alternative and renewable fuels, over the next year we’re going to invest about half as much money in grants for bio-mass refineries in these United States of America than we will spend in Iraq in the next 24 hours.

“I recognize that as we develop alternative fuels and flex-fuel vehicles, our nation will continue to rely on fossil fuels as our primary source of energy.   Therefore, I believe we must promote further exploration and development of domestic oil and gas production.  I submit that addressing our nation’s energy crisis will take a multi-faceted approach consisting of increased domestic production, conservation, the use of alternative and renewable energy sources, utilizing energy efficient technologies, and end-user participation. 

“With that, Mr. Chairman, I yield back the balance of my time.”

Today’s remarks are part of Ross’s continuing effort to respond to the growing concern over prices at the pump.   Next week the House Committee on Energy and Commerce will hold hearings on "Gasoline Supply, Price and Specifications."

###