Washington, DC -- Congressman Eliot Engel (D-NY-17) issued the following statement in response to reports that some major American cities may be facing $5 per gallon gas prices by the time Memorial Day arrives in May.  Rep. Engel is a senior member of the House Energy and Commerce Committee’s Subcommittee on Energy and Power.

“You would think that Big Oil companies would be ashamed of themselves by now – after gouging Americans year after year on gas prices, while being responsible for such catastrophic events like the BP oil spill.  However, they continue to reap massive profits while making it more difficult each day for working Americans to fill their tanks.  Speculation on gas prices, and how the conflict in the Middle East will affect them, only hurts families trying to commute to work, run their errands and go on hard-earned vacation.  It is incredible how the situation in Libya causes an immediate spike in gas prices, even though we receive almost no oil from that regime, and it will take weeks for the prices to come down. 

“As these prices continue to climb higher, there is no need to leave corporate tax breaks for Big Oil intact, or to return to the erroneous ‘Drill, baby, Drill’ mantra, so recently discredited by BP’s disastrous spill in the Gulf.  What we must do, at long last, is to move towards a national energy policy which is not bound to oil and beholden to foreign dictators and unfriendly governments.  By employing my suggested Open Fuel Standard, we take power away from Big Oil and foreign governments and empower American companies to take the lead on new ways to power our cars, homes and businesses. 

“The Open Fuel Standard would require half of all cars made or sold in America by 2014, 80% by 2016, and 95% by 2017 to be flexible fuel vehicles.  These vehicles would be able to run on gasoline, or alcohol-based fuels such as methanol or ethanol, or a combination of both.  Once we move our automobiles to alternative forms of energy, the economic need for a new green energy industry would lead to advances in home and business electric and heating options.  With these new industries will come more jobs, a cleaner environment and a safer America.

“Until then, we are not only at the mercy of governments worldwide who often are antagonistic, but also to companies with an eye on their profit margin rather than on the consumer.”

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