April 20, 2005- DOE Reports Majority's Energy Bill Could Increase Gas Prices

Washington, DC: Today Rep. Edward Markey (D-MA), a senior Democratic Member of the House Energy and Commerce Committee made the following statement responding to the President’s assertion that the Energy bill in Congress will solve America’s Energy crisis.

“If President Bush wanted to increase fuel economy standards today he could. What is he waiting for? If we could put a man on the moon we can certainly make more efficient cars.

Today, President Bush is telling the American people that Congress needs to pass an Energy bill in order to reduce the price of oil. The President needs to get his facts straight, according to the Department of Energy, an identical bill would negligibly impact
oil consumption, production and would increase the price of gas. If the President really wanted to impact oil prices he would open up the strategic oil reserves and send a message to OPEC that the United States will not sit silently by while OPEC tips American consumers upside down and shakes them for all they have.”


PRESIDENT BUSH: "Members of Congress can send an important signal that they are serious about solving America's energy problems by getting a bill to my desk before the summer recess." [President Bush speech US-Hispanic Chambers of Commerce
Legislative Conference, AP, 4/20/05]

FACT: DOE predicts that the Energy bill will increase the price of gas. [DOE Report - http://www.eia.doe.gov/oiaf/servicerpt/pceb/pdf/sroiaf(2004)02.pdf.]

PRESIDENT BUSH: “It's going to take us awhile to become less dependent on foreign sources of energy. Even signing an energy bill, you don't have an instant fix.”

FACT: The Energy bill does nothing to reduce US dependence on foreign oil. [DOE Report - http://www.eia.doe.gov/oiaf/servicerpt/pceb/pdf/sroiaf(2004)02.pdf.]

PRESIDENT BUSH: "Today millions of American families and small businesses are hurting because of higher gasoline prices." [President Bush speech US-Hispanic Chambers of Commerce Legislative Conference, AP, 4/20/05]

FACT: “The House began considering a broad energy bill that includes $8.1 billion in tax breaks, mostly for energy companies.” [AP, 4/20/05]

PRESIDENT BUSH: "And so one of the initiatives that I will push, again, is to get an energy bill out. I will tell you with $55 oil we don't need incentives to oil and gas companies to explore. There are plenty of incentives."

FACT: “The pork amounts to about $8 billion in tax breaks and other subsidies over the next decade, with less than $500 million of it targeted at renewable energy and energy efficiency. That's a payout of tax dollars at a ratio of 15 to 1 in favor of
traditional energy producers.” [Detroit Free Press, 4/20/05, http://www.freep.com/voices/editorials/eenergy20e_20050420.htm]

April 20, 2005
 CONTACT: Tara McGuinness
Jeff Duncan