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Rising Energy
Prices
Rather than reward oil
companies with unneeded tax breaks and letting energy lobbyists write our
national energy policy, I believe that Congress needs to take real action not
only to provide short term energy relief to hard working Americans, but to
develop long terms solutions that will free our nation from our dependence on
foreign sources of oil and secure an innovative and independent energy future
for our nation.
When the President signed
the Energy Policy Act of 2005 (PL109-58) into law, supporters of the
legislation claimed that it would ease demand, increase supplies of gas and
oil, and reduce energy costs consumers and small businesses. However, over the
past year the law has done little more than raise energy prices and
dramatically increase oil company profits. In the Hartford area alone, prices have risen 77
cents in the past year to a current average of $3.23 a gallon. While Americans
are being squeezed by these record prices, oil companies are bringing in record
profits and being given billions in federal tax breaks. Exxon Mobil, for
example, made a profit of $36.1 billion, up 31 percent from 2004.
Follow these links for more information on rising energy prices and what we are doing in Congress to try to solve the problem.
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