Record-Breaking Gas Prices Underscore Urgent Need to Boost American Energy Production, Help Economy Create Jobs | Speaker.gov

This week, the House is scheduled to consider two American Energy Initiative bills that will begin to address skyrocketing gas prices and help the economy get back to creating jobs by increasing U.S. energy production in the Gulf and other areas.  As today’s headlines from across the country show, the need to immediately begin boosting American energy production to address soaring gas prices could not be more urgent:

  • Illinois: “Chicago Gas Prices Hit All-Time High”: “AAA's Fuel Gauge Report shows that the average gas price in the Chicago area was $4.39 on Monday, well over the $4.34 record set in July of 2008.”
  • Michigan: “Michigan Gas Prices Reach New Record”: “Average gas prices have surpassed their summer 2008 peak in most of Michigan, as prices jumped between 5 cents and 10 cents a gallon between Sunday and Monday…Michigan’s average is now a record high of $4.217.”
  • Massachusetts: “Pump Shock: Gas Average Near $4”: “The Bay State’s average gasoline price rose sharply over the past week, creeping closer to the psychological level of $4 per gallon and sparking fears of pain at the pumps this summer.”

Economists have warned that rising gas prices could hamper the already-tenuous economic recovery and, according to a recent ABC News-Washington Post survey, seven in 10 Americans say they are already suffering “financial hardship” due to skyrocketing gas prices.  Republicans are listening, and working to address gas prices through the American Energy Initiative.  While this week’s legislation is an important step forward in that effort, it is only a beginning.  The new House majority will take action on several other proposals in the coming weeks that will help unlock our energy resources to lower prices and help create jobs.  Learn more, share your ideas and “like” the American Energy Initiative on Facebook at: http://facebook.com/americanenergy