Republican News

Republican News

Jul 09 2004

CRUDE OIL TRADING OVER $40 FOR SECOND DAY, SUSTAINED HIGH NATURAL GAS PRICES FORECAST

DOMENICI TELLS DEMS TO PASS ENERGY BILL ON BEHALF OF CONSUMERS

Washington, D.C. – The price of crude oil traded above $40 for the second consecutive day while energy forecasters predicted another year of high natural gas prices. Meanwhile, in some parts of the country, the price of wholesale, domestic coal has risen nearly 30 percent in the last six months, driving up residential electric bills. Chairman Domenici’s statement: “Consumers are anxious. They open a utility bill or pull up to a gas pump and they are stunned by the prices. Economists are concerned. Steep energy prices like we are seeing crimp consumer spending and blunt their confidence in the economy. “I urge Senate Democrats to stop playing politics with the constituents’ pocket books. Let’s pass an energy bill that lowers the price of oil, gas and coal and sharply increases the production of renewable energies. “President Bush has said his energy agenda won’t change after the election. Neither will mine. President Bush continues to believe that comprehensive energy legislation is the right thing for this country. I remain committed to delivering a comprehensive energy bill to his desk.” ###