The average price for a gallon of gas in Kentucky is now almost $3.60 a gallon. The price is more than twenty cents higher than it was only a month ago.
Last week, President Obama told an audience, “At a time when we’ve been reminded how easily instability in other parts of the world can affect the price of oil, the United States could not be happier with the potential for a new, stable source of energy.” Unfortunately, the President was not encouraging additional energy production and the new jobs that come with it here at home; he was telling Brazil that the United States will help them tap their oil reserves.
The President went on to tell the crowd, “We want to help you with the technology and support to develop these oil reserves safely. And when you’re ready to start selling, we want to be one of your best customers.”
Despite enthusiastically encouraging new energy production elsewhere, the Obama Administration continues to ignore the opportunities for energy production and job creation throughout the U.S.
Ongoing political and military unrest in the Middle East, combined with the dual catastrophe of a massive earthquake and tsunami in Japan, have pushed oil prices over $105 per barrel. But these global events only accelerate the results of a deeper problem: that the demand for oil is growing faster than the supply.
To correct this imbalance we need to increase the supply of energy to lower costs. Increasing domestic production of energy by taking advantage of all our natural resources and using our technology to safely develop new sources of energy will provide the U.S. with greater security and independence in the world.
Unfortunately, the President’s record on domestic energy production is clear and can only be described as limiting supply, increasing costs, threatening jobs and making us ever more dependent on foreign oil. In addition to national energy tax proposals and efforts to enact a cap and trade program through regulation, the administration has consistently used its permitting power to deny and revoke permits on American energy generation, which has cost thousands of jobs and contributed to the rising cost of energy.
It is clear that our nation’s current policy towards American energy generation is not working. It has caused prices to rise and pushed production abroad, making us even more dependent on other countries for our energy needs. Even worse, it has made our economy more vulnerable to international turmoil.
House Republicans are not standing by as gas prices continue to rise and threaten our economy. House Republicans announced the American Energy Initiative, an ongoing effort with the goals of stopping government policies that are driving up gas prices and expanding American energy production to lower costs and create more jobs. It is an all-of-the-above strategy to increase all forms of American energy.
House Republicans cannot fix this problem alone. We need the support of Congressional Democrats and the leadership of the President to correct the imbalance of oil supply and demand, lower costs, reclaim energy independence and set the stage for job creation.
To learn more about the American Energy Initiative and how House Republicans are working to lower gas prices, promote energy independence and encourage job growth, please visit: www.facebook.com/AmericanEnergy.