Democrats’ Energy Bill Lacks Focus on Oil and Gas Prices (Rep. John Shimkus)

Oil prices are again right at $100 per barrel; gasoline prices are over $3.00 per gallon and rising. Yet the Democrats bring an ‘energy’ bill that doesn’t do one thing to increase our supply of oil and gasoline. I support extending many of the tax credits and efficiency items in this bill, but those deal with electricity issues, and right now we need to focus on oil and gas prices.

Even with our economy slowing down, prices are nearing record highs. The simple economics of supply and demand come into play. Demand is down slightly, but prices are still high. That means supply must be increased if we have any hope of reducing prices.

The Democratic Congress has proposed closing off more areas to oil and natural gas drilling. That just doesn’t make sense.

We must start to look at using our own nation’s oil reserves. Efficiencies and tax increases will certainly not bring down record high prices of oil and gasoline. We must produce more of our own energy instead of relying on unreliable foreign supplies.