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June 22, 2005
Gas Price Crisis Continues to Hurt West Virginians as it Nears Third Month
by HNN Staff
Washington, D.C. (HNN) – The price for a barrel of oil rose to a record high of nearly $60 on Monday, June 20, 2005, nearly a full three months after gas prices hit a record high in West Virginia. U.S. Rep. Nick J. Rahall (D–WV) expressed his continued displeasure with the lack of gas price relief for southern West Virginians Tuesday, June 21, 2005, saying, "It has been nearly three months since the start of the gas price crisis in West Virginia and I am frustrated that all the signs point towards an even longer crisis at the pump."
According to Reuters, U.S. light crude oil hit a record high of $59.23 per barrel on Monday. In the last two years, the price per barrel of crude oil has doubled. Analysts believe the price per barrel is on the rise due to worry and speculation about the lack of supply during the summer, but Rahall was quick to point out that the United States has millions of barrels of oil at the Strategic Petroleum Reserve (SPR) which could help the supply problems.
"I am not calling on the President to open the SPR, but we can postpone the diversion of oil we are importing each day from going to the SPR," said Rahall. "This additional supply will help gasoline prices in the short term. As we close week twelve of the gas price crisis in West Virginia, it is clear that we need both a short–term fix and a long–term fix for these outrageous oil prices and I hope we can come together to achieve this."
Rahall has proposed many different options for alleviating the pressure of high gas prices on the people of southern West Virginia. Rahall is a proponent of alternative fuels to gasoline, especially coal based fuels including liquid or gaseous coal based fuels. Rahall also urged the Administration to conduct an investigation into the possibility of price fixing by the Big Oil companies. Another suggestion for lowering gas prices made by Rahall was that the Administration pressure OPEC (Organization of the Petroleum Exporting Countries) to increase oil production.
"I am disappointed that the decision makers in the White House continue to make the wrong decision, or worse yet, no decisions to help solve the gas price crisis," said Rahall. "In my home state of West Virginia, we need relief at the pump and we need it now. Delay in this matter helps no one. We must have action to help ease the stranglehold that the big oil companies have on the pocketbooks of southern West Virginians who must commute many miles to work."
According to the American Automobile Association (AAA), the average gas price in West Virginia today is $2.18, and the rising crude oil price signifies that there will not be gas price relief very soon. Rahall noted that southern West Virginians face some of the highest prices in the state as well.
