A news conference was held introducing the Open Fuel Standard Act, which would require that starting in 2012, fifty percent of new automobiles, and starting in 2015, eighty percent of new automobiles, be flex fuel vehicles made to operate on gasoline, ethanol, and methanol. Sen. Sam Brownback (R-Kan.) began by saying that the U.S. urgently needs to lessen its dependence on foreign oil. Brownback said that the solution is an easy one which would require no need for new inventions, but simply a switch to flex fuel vehicles. He explained that this enhancement comes at a reasonable price and would only add $100 per vehicle during creation. Brownback said that this is the “way to do it” — the way to start ending America’s addiction to oil. (more…)

Obama presidential campaign supporters Senator Bill Nelson (D-FL) and former Iowa Governor Vilsack discuss their opposition to the energy policies and “offshore drilling” ideas proposed by the presumptive Republican presidential nominee, Senator John McCain. (27:10)

 

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Sen. Pete Domenici (R-NM) says that the U.S. is going to have to use crude oil for as long as four decades as the transition in transportation occurs to accomodate new fuels. (0:40)

 

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The House Judiciary Committee met today to discuss ‘Retail Gas Prices’ and the effects it has on consumers. The Competition Policy and Antitrust Laws Task Force Subcommittee led the hearing, which discussed the future of diesel fuel and it’s effects on small businesses as well as consumers. Many of the witnesses suggested drilling for oil in ANWR, the Arctic National Wildlife Refuge, and turning the oil market from an oligarchy to a competitive market.

We regulate onions more than we do oil, said Dr. Mark Cooper, director of research of the Consumer Federation of American today. The oil industry is not a competitive market and thus is under the jurisdiction of the antitrust task force. Cooper stressed the necessity to not ignore the traditional problem of the market structure. Since the market is working like a “cartel”, drilling in the United States whether in ANWR or creating more refineries will not influence the world price of oil. Cooper said it is necessary to change the market and make it more competitive, which will in turn lower gas prices. (more…)

House Speaker Nancy Pelosi talks about high gasoline prices at her press conference with children and media for National Take Your Kids to Work Day. (0:59)

 

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House Speaker Nancy Pelosi (D-CA) held a briefing to speak with children and their parents on “Take Your Kid to Work Day,” but did not pass on an opportunity to allege President Bush of not doing enough to lower high gas prices beforehand.

Pelosi called on the President to suspend purchases of oil for the Strategic Petroleum Reserve (SPR), which she said could lower gas prices from anywhere between 5 to 24 cents a gallon. Speaker Pelosi said that more affordable gas prices would provide our economy with the “critical” first step it needs to rebuild our dreary financial situation. (more…)

Consumers are being tipped upside down by the big oil companies, with money being shaken out of their pockets at the pump. This statement made by Chairman Edward Markey (D-MA), was widely echoed by all members of Congress present at the House Select Committee on Energy Independence and Global Warming. President Bush, he said, refuses to use our oil reserves, and not only is that something that can be done, it is something that should be done. Congressman James Sensenbrenner (R-WI) echoed that by adding that they need to put aside bipartisanship and releasing the reserves was essentially paying attention to Economics 101.
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THE WHITE HOUSE

Office of the Press Secretary

________________________________________________________________
For Immediate Release February 29, 2008

PRESS GAGGLE BY
GORDON JOHNDROE

James S. Brady Press Briefing Room

9:37 A.M. EST

MR. JOHNDROE: Okay, today’s schedule: The President taped his radio address this morning. In it the President will announce the release of the 2008 National Drug Control Strategy. This report lays out the methods the administration is using to combat drug abuse in America and highlights the hopeful progress that we are making in the fight against addiction. ONDCP will have more on that later.
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