Here is what our neighboring congressman Chet Edwards had to say about the bill:
The bill will release 10% of the Strategic Petroleum Reserve (SPR), or 70 million barrels of oil. In 1991 when former President Bush released just 17 million barrels of oil from the SPR, oil prices dropped by 33.4% in just one day. In 2000, when President Clinton release oil from the SPR, oil prices dropped by 18.7%.Here is my opponent’s response:
The fact is that releasing oil from the SPR is a proven way to drive down oil prices quickly. By dramatically increasing the supply of oil on the market, we will drive down the price of oil… Now I can see why oil speculators don’t like the idea of lower prices. I can see why Exxon Mobil doesn’t like the idea of oil lower prices. I can’t see quite see why my Republican House colleagues have voted against releasing oil from this SPR earlier this year and none of their bills include this idea. It makes one wonder just whose side are they on now?
This bill is not the bill the American people have been waiting for. In fact, this bill doesn't do a single thing to help consumers, nor does it answer the cries of frustrated Americans pummeled by high gas and food prices.
Not a Single Thing?
The bill could reduce the price per barrel of oil 20% to around $80, which should translate to just over $2 a gallon! I will side with the American families and businesses that are tired of paying these high prices and demand a lower cost TODAY.
Of course, our efforts to lower energy costs have to involve more than just one single solution but our Congressman is only concerned with a solution that helps the oil companies and his wallet.
District 31 deserves better, we deserve lower gas prices, and we deserve to have our voices heard. I want to represent you. As your Congressman I will represent you!
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