Senate Invokes Cloture on Bill to Bring American Gas and Oil to Market, Stabilizing Energy Prices
July 31, 2006
06:44 PM
Washington, D.C. – The U.S. Senate today voted 72-23 to end debate on S. 3711, the Gulf of Mexico Energy Security Act, and move to a vote on final passage of the bill. Final passage is expected by mid-week.
Chairman Domenici’s statement:
“Today, natural gas prices jumped 11 percent in one day because of the heat we are experiencing in various parts of the country. America’s supply of natural gas is so tight that when the thermometer soars, our gas prices promptly soar too. Supplies are so tight that in the last six years, the money American families and businesses spend on natural gas has quadrupled from $50 billion annually to more than $200 billion annually.
“I think the wide margin of this vote reflects the growing bipartisan conviction in the Senate that we must act now to stabilize these prices. It reflects the conviction that this bill is the most important thing we can do now to stop these spiraling prices. I look forward to successful passage of this bill later this week.”
