Gov. Douglas Urges Congress to ‘Thoroughly’ Investigate
Fuel Prices & Take Action
Montpelier,
Vt. – Governor Jim Douglas
today praised the U.S. Congress for holding hearings on skyrocketing oil
prices, but urged lawmakers to conduct a “real, thorough
investigation.”
Governor Douglas on several occasions has urged the U.S. Congress to begin
a bipartisan investigation of escalating fuel prices. The Governor and a
bipartisan group of 21 of his colleagues had called for a similar investigation
last May. The Governor most recently urged Congress to investigate oil prices
earlier this winter.
“What’s troubling to average Americans is that as the
price of fuel continues to rise, oil companies are making record-setting
profits. I’m pleased the Congress is finally looking into this issue.
It is my hope that they will go beyond hearings and conduct a real, thorough
investigation into what exactly is driving price increases and what can be done
to lower them,” Governor Douglas said.
Congress has the authority and the ability to
investigate fuel costs and enact free market reforms that lower prices, the Governor
added.
The Vermont Fuel Dealers Association has called on
Congress to close the “Enron loophole,” a provision that protects
largely unregulated “dark exchanges” and drives the price of fuel
based on speculation, rather than free market principles of supply and demand.
“High fuel prices hurt low and middle income
Vermonters the most. And while my administration will continue to hold the
line on in-state proposals that would make fuel more expensive, a long-term
solution can only be achieved by the federal government,” Governor
Douglas said. “Americans deserve honest answers and real solutions to
this recurring and unresolved problem.”
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Jason Gibbs
Governor’s
Communications Director
109
State Street ¨ The Pavilion ¨ Montpelier,
VT 05609-0101 ¨ www.vermont.gov/governor
Telephone: 802.828.3333 ¨ Fax: 802.828.3339 ¨ TDD: 802.828.3345