CAES News
CONSUMER ALLIANCE FOR ENERGY SECURITY APPLAUDS PASSAGE OF S. 3711
Bill Represents Positive Step Forward for U.S. Energy Security
WASHINGTON, DC – The Consumer Alliance for Energy Security today issued the following statement after passage of S. 3711, The Gulf Coast Energy Security Act of 2006, by the U.S. Senate:
“The U.S. Senate today scored another major victory for U.S. consumers and energy users by passing S. 3711. Today’s strong 71-25 bipartisan vote is another historic mile marker on the road to greater U.S. energy security. Chairman Pete Domenici (R-NM), Senator Mary Landrieu (D-LA) and the bipartisan group of Senators who supported this legislation have taken definitive action to provide needed relief to record high energy prices and they should be commended for their commitment and leadership on this issue.
“Passage of S. 3711 is coming at the right time. Just yesterday, natural gas prices spiked by 14 percent closing at $8.21 per thousand cubic feet as a result of unusually high temperatures across most of the United States and greater demand for natural gas-generated electricity. This price spike is nearing the record average price consumers experienced in 2005. Underscoring this point, Fed Chairman Ben Bernanke recently said that high U.S. energy costs were having a negative impact on the U.S. economy and ‘affecting purchasing power of households and weighed on consumer attitudes.’ S. 3711 can help reverse these alarming economic trends and pave the way toward energy security and lower energy costs.
“We look forward to working with Senate and House leaders to ensure a bill that safely unlocks America’s abundant energy supplies on the Outer Continental Shelf reaches President Bush’s desk for signature. Only then will U.S. consumers and energy users benefit from lower energy prices.”
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CONTACT:
Craig G. Veith
(703) 717-9816
craig.veith@craigveith.com