DPC | March 1, 2012

Responding to High Gas Prices

Talking Points: Responding to High Gas Prices

• Americans want relief from the pain they’re feeling at the pump, not phony promises and “bumper sticker” slogans. 
   
• After protecting big oil company profits and turning a blind eye to unfair speculation that drives up prices, Republicans are now using false claims to try to shift the blame.
   
• The American people know there is no silver bullet to address high gas prices. They understand that to deal with the problem of high gas prices, we must engage in a serious “all of the above” approach that will allow American companies to develop new energy sources, expand our oil and gas production, and reduce our overall reliance on oil through fuel efficiencies and the development of renewable energy.  
   
• We are making progress. Domestic oil and gas production has increased each year of President Obama’s administration, and it is the highest that it’s been in eight years.  New innovations in fuel efficiency will save Americans $1.7 trillion and reduce our oil consumption by 2.2 million barrels per day by 2025.
   
• But we can and should do more.  We can do a better job policing the financial speculators that drive up the price of oil through unfair market manipulation.
   
• We should make sure that oil companies that already have leases to drill for oil in the US actually use them by passing “use it or lose it” legislation in Congress.  If the current holders of those leases won’t develop them, then someone else should be given the chance.  And the oil that is produced in America should be used in America.
   
• We must also continue the development of renewable energy sources and fuel-efficient vehicles that can reduce our reliance on volatile global oil markets.
   
• What we should NOT be doing is continue to shower tens of billions in subsidies and tax giveaways on the oil companies.  The oil industry has enjoyed record profits, while middle class families see their gas prices continue to rise.  
   
• If Republicans really cared about high gas prices, they wouldn’t keep us hooked on big oil.  Instead, they would vote with us to repeal the tens of billions of oil giveaways that do nothing to lower gas prices and join us in an “all of the above” strategy to tackle America’s energy challenges.
   

DPC