For immediate release: May 13, 2008
Contact: (202) 225-4761
Eric Wortman, Communications Director
Salazar Fights the Skyrocketing Cost of Gasoline
Washington, DC – Later tonight, Congressman John T. Salazar will join his colleagues in the House in a vote to suspend filling the Strategic Petroleum Reserve (SPR). The vote will occur between 6:30 and 8 p.m. in the House of Representatives, and is expected to pass with bipartisan support.
Under the bill, the United States would only resume filling the SPR between now and December if oil prices dropped below $75 per barrel. Experts project this action could lower gas prices by 5 to 24 cents per gallon. In 2000, just the announcement of a SPR moratorium dropped oil prices in the market from $30 a barrel to $20. President Bush has rejected bipartisan calls to suspend filling the SPR for the past several months.
“This is a common sense solution to give our country some much needed relief as we head into the summer driving season,” said Salazar. “This is only a step, but by suspending the filling of our petroleum reserves we are reducing demand on oil and less demand leads to lower prices.”
“We must follow this action by taking action on price gouging and price fixing, investing in renewable energy and increasing our energy efficiency, and boosting biofuel production from non-food crops,” concluded Salazar.
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