Alleviatring the Problem of High Gas Prices

ALLEVIATING THE PROBLEM OF HIGH GAS PRICES -- (House of Representatives - July 24, 2006)

(Ms. FOXX asked and was given permission to address the House for 1 minute and to revise and extend her remarks.)

Ms. FOXX. Mr. Speaker, I rise today to address a problem that faces all Americans: skyrocketing gas prices. The cost for an average American to fill up his or her car has been rising steadily over the past 3 months, and the price of a barrel of oil hit a record high 2 weeks ago.

It is absolutely crucial that we build up our own domestic supply of oil in order to decrease our dependence on foreign-born fossil fuels. Drilling off the Outer Continental Shelf and opening the ANWR to oil exploration are two Republican initiatives for strengthening our domestic supply.

In addition, Republicans have supported tax credits for the production and use of ethanol and biodiesel. We have also offered incentives for increased refinery capacity and have created stiffer penalties for price gouging at the pump.

Mr. Speaker, I remain absolutely committed to working with my colleagues on both sides of the aisle to alleviate the problems of high gas prices and our utter dependence on foreign oil.

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