REPUBLICANS STAND IN THE WAY OF LOWER PRICES AT THE PUMP

FOR IMMEDIATE RELEASE: July 30, 2008

CONTACT: Emily Barocas/ 202-225-7295

REPUBLICANS STAND IN THE WAY OF LOWER PRICES AT THE PUMP

Washington, DC – Today, the House of Representativestook up legislation that would have ended excessive speculation on our energymarkets and lowered the price of gas and oil. Unfortunately, when the Republican leadership realized that thelegislation had garnered 290 votes, enough to pass, they began picking away attheir members, forcing them to change their votes. The Republican leadership alone doomed thelegislation.

Congressman John B. Larson (CT-01), Vice Chair of the Democratic Caucus, said:

“Consumers who haveto face exorbitant prices at the pump this weekend have just a few people toblame for their suffering. TheRepublican Leadership of the House of Representatives stood directly in the wayof lowering those prices today. Wewatched from our side of the aisle as they confronted member after memberforcing them to change their vote on critical legislation that would havereduced the excess speculation on our energy futures market and lowered theprice of oil, causing it to fail.

“Republicans talkabout having an “all of the above” strategy when it comes to energypolicy. Funny. Where was that strategy today when theyblocked this crucial energy legislation? Where was that strategy when they blocked countless other pieces ofimportant energy legislation over the past few weeks?

“Republicans areindifferent to the true suffering of the American people who are bearing theunbelievable weight of outrageous gas prices. Instead they push a drill, drill, drill policy that is nothing but agift to their friends in big oil.

“I am deeply saddenedby the turn of events on the floor of the House today. I sincerely encourage my Republican friendsto reconsider their decisions and support legislation to rein in marketmanipulation and outrageous speculation.”

###