Hon. Tim Bishop
H.R. 6022
May 13, 2008


Madame Speaker, I rise in support of H.R. 6022.

At a time when oil prices are reaching record highs, suspending the federal government’s oil purchases is a win for consumers and for the federal budget.

Regular gas now costs over $ 3.73 a gallon, compared to only $1.47 in 2001 before the President began implementing his disastrous policies. Families and businesses on eastern Long Island and across the country are calling on Congress to take action to lower these soaring gas prices and reduce our nation’s unsustainable addition to oil.

In response, I am pleased to cosponsor this bill, which takes a good, first step. Economists and government agencies agree that suspending the filling of the Strategic Petroleum Reserve would directly impact gas prices this summer by making more oil available. In contrast, it would take at least a decade for consumers to benefit from Republican plans to hand over America’s wilderness areas to big oil.

Moreover, it is not fiscally prudent for the federal government to continue to pay such high premiums to stockpile oil when we currently have sufficient reserves.

In the 108th and 109th Congresses, as Bush Administration policies drove the price of gas to record highs, I introduced similar legislation to halt the filling of the Petroleum Reserve.

Today the need for such action is even greater, Madame Speaker. Therefore I call on my colleagues to join me in support of H.R. 6022.