Domenici Concerned About Rising Energy Costs
Consumer Price Index Shows Jump in Energy Sector, Rising Gas Prices
April 17, 2007
04:50 PM
WASHINGTON – U.S. Senator Pete Domenici, ranking member of the Senate Energy and Natural Resources Committee, today issued the following statement regarding news that energy costs rose 5.9 percent during the last quarter, the largest jump in over a year and a half.
“I am concerned about rising energy costs. This month’s Consumer Price Index from the Department of Labor showed that the prices Americans paid for energy rose sharply. In addition, according to the Department of Energy, gas prices are at their highest level since last September. This surge underscores the need for a strong, consistent national energy policy that includes increased production as well as increased use of renewable and alternative energy sources.
“I am pleased with actions taken so far by the Senate Energy and Natural Resources Committee to consider legislation that could help provide relief from rising energy costs. The Committee is poised to act on legislation that will promote the use of biofuels as an alternative to gasoline, and another bill to improve our nation’s energy efficiency. These bills represent steps in the right direction.
“As we act on these measures, however, it is important that the Senate not pass legislation that will burden the American consumer with increased energy costs. Even slight, incremental increases in energy costs could result in inflation and have significant, adverse effects on the economy.
“As Congress moves forward in considering ways to strengthen energy security and address global climate change, we must be mindful of the challenges that consumers would face should our efforts result in higher prices for hardworking Americans.”
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