May 15, 2008
Rahall: Gasoline Cost No. 1 Issue Facing West Virginia
By Tony Rutherford
Huntingtonnews.net Reporter
Washington, DC (HNN) – Nominated for his 17th term in office, Rep. Nick J. Rahall has voted to support legislation to temporarily suspend oil deposits into the Strategic Petroleum Reserve (SPR).
“The high cost of gasoline is the number one issue facing West Virginia today,“ Rahall said in a press release. “In addition “ to causing pain at the pump, rising gasoline prices are helping to drive up the price of groceries and cutting into precious vacation time with our families. Since the President has failed to do so, the Congress must take action, where possible, to help lower gas prices and provide much-needed relief to hardworking American families.”
Rahall explained that the SPR receives 70,000 barrels of oil daily and is 97% full, which, according to the congressman is sufficient to meet national security needs.
“At a time when crude oil is over $120 a barrel, it makes absolutely no sense for the federal government to continue purchasing massive quantities of oil in order to stick it in a hole in the ground for safekeeping,” said Rahall. “Suspending shipments to the Strategic Petroleum Reserve is one of the few near-term options available to the government to help reduce the pain Americans are feeling at the pump.”
Under the Strategic Petroleum Reserve Fill Suspension and Consumer Protection Act of 2008, the President would be directed to suspect deposits until the end of the year or until prices drop below $75 per barrel. Experts predict this action would reduce the cost of a gallon of gas by five to 24 cents.
Vice Chairmen of the House Transportation and Infrastructure Committee and co-chairman of the Appalachian Caucus, Rahall explained that the bill would “lower gas prices now,” but for the long term “We must pursue initiatives that will help America become less dependent on foreign oil,” such as “coal to liquids that will better use our own abundant resources.”
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Rahall: Gasoline Cost No. 1 Issue Facing West Virginia
By Tony Rutherford
Huntingtonnews.net Reporter
Washington, DC (HNN) – Nominated for his 17th term in office, Rep. Nick J. Rahall has voted to support legislation to temporarily suspend oil deposits into the Strategic Petroleum Reserve (SPR).
“The high cost of gasoline is the number one issue facing West Virginia today,“ Rahall said in a press release. “In addition “ to causing pain at the pump, rising gasoline prices are helping to drive up the price of groceries and cutting into precious vacation time with our families. Since the President has failed to do so, the Congress must take action, where possible, to help lower gas prices and provide much-needed relief to hardworking American families.”
Rahall explained that the SPR receives 70,000 barrels of oil daily and is 97% full, which, according to the congressman is sufficient to meet national security needs.
“At a time when crude oil is over $120 a barrel, it makes absolutely no sense for the federal government to continue purchasing massive quantities of oil in order to stick it in a hole in the ground for safekeeping,” said Rahall. “Suspending shipments to the Strategic Petroleum Reserve is one of the few near-term options available to the government to help reduce the pain Americans are feeling at the pump.”
Under the Strategic Petroleum Reserve Fill Suspension and Consumer Protection Act of 2008, the President would be directed to suspect deposits until the end of the year or until prices drop below $75 per barrel. Experts predict this action would reduce the cost of a gallon of gas by five to 24 cents.
Vice Chairmen of the House Transportation and Infrastructure Committee and co-chairman of the Appalachian Caucus, Rahall explained that the bill would “lower gas prices now,” but for the long term “We must pursue initiatives that will help America become less dependent on foreign oil,” such as “coal to liquids that will better use our own abundant resources.”
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