Washingont, D.C. -- Today, Rep. Ed Markey (D-MA), a senior member of the House Energy and Commerce Committee, released the following statement on the nation’s new record gas prices and the massive profits announced by BP in their quarterly earnings report:

“As gas prices hit record highs around the country, we hear today from BP that they’ve posted a $7.3 billion profit.  BP used to stand for British Petroleum, now it just stands for Bloated Profits.  Meanwhile, the Bush Administration enables this massive rip-off by opposing all efforts to impose a windfall profits tax to support programs for consumers, small businesses and the poor, and failing to halt the practice of royalty-free drilling rights on public lands.  These record profits are hurting America, and the Bush Administration doesn’t seem interested in doing anything to help consumers.”

July 25, 2006

CONTACT: Israel Klein