Fuel prices and new technology… Well, well, well. Rosa is trying to hit the bulls-eye with this one. I haven’t read the details on the bill but have to admit the idea of curbing the present fuel issues coupled with future technological developments perks my interest a wee bit. It does, it does.
Dear Friends,Energy costs are among the most important issues facing Americans today. Our dependence on petroleum underlies many of our most pressing challenges: the shrinking middle class, the high cost of doing business, the war in Iraq, and the new threat posed by Iran. In today’s energy crisis, both our national security and economic prosperity are at stake.At the same time, we know that high gas prices are hitting Connecticut’s families hard. Whether you are taking your children to school, driving yourself to work in the morning, or running a small business, $2.50 to $3.00 for a gallon of gas poses a big problem for all of us. And with summer approaching, prices will only continue to get worse. In the last 5 years alone, gas prices that have increased more than 80 percent, reaping record profits for oil companies. What is even more troubling, last week we learned that Exxon-Mobil CEO Lee Raymond received a retirement package of more than $400 million.Two things are clear: we must move towards energy independence and we must help families who are being hurt by high gas prices. Yet for six months, President Bush and the Republican Congress have refused to investigate price gouging by the oil companies. I wrote to Speaker Hastert and President Bush last fall, asking that they investigate the cause of the rising gas prices. But the president only decided this week to order an investigation. This is disappointing but not surprising–we need leadership to confront our energy crisis, but the president and the Republican leadership in Congress seem unwilling to stand up to the oil companies.I believe that we should have a zero tolerance policy when it comes to price-gouging. That is why I have introduced legislation, the Fuel Price Fairness Act, which would create tough criminal penalties for oil industry executives whose companies are found to be increasing their profits at the expense of fairness in the marketplace. Click here to read more about the Fuel Price Fairness Act. You can also reduce your fuel consumption by following the steps set forth by the Federal Transportation Commission, viewable here.We need to think in the long-term as well. This starts with raising fuel economy standards, which we haven’t done for a decade. I am a cosponsor of legislation that would raise fuel economy standards for cars and light trucks. By 2025, this move would save 2.6 million barrels of oil each day.
I also support legislation that would rescind the $15 billion in subsidies and tax breaks to oil companies passed by the president and his Republican allies in Congress last year. Instead, we should retarget this money to encourage greater use of hybrid vehicles and alternative energy sources like fuel cells and biofuels. With Connecticut being one of the leaders in fuel cell technology, I believe this initiative could jumpstart new sectors of our economy while helping to solve our energy crisis.These are the steps I have proposed in Congress, and if enacted, they would go a long way towards reducing gas prices and achieving energy independence. However, like so many challenges today, this is a matter of leadership–President Bush and the Republicans in charge of Congress must stop acting in the interests of oil companies and start working for the American people. You can be sure that I will keep working in Congress to protect middle class families and to reduce our dependence on foreign petroleum.As always, please feel free to forward this message to friends and family who care about this issue. You can also unsubscribe from these updates if you would like, using the link below.