Pelosi: President Must Join Congress to Address Skyrocketing Energy Prices

January 9, 2008

Washington, D.C. - Speaker Nancy Pelosi issued this statement following the release of Energy Information Administration data this week indicating gas prices are expected to average more than $3 a gallon through 2009 and peak near $3.50 this spring. EIA also released forecasts on home heating oil, which is expected to increase 37.6 percent over last winter.

'With families struggling with the rising cost of home heating, it is imperative that the Bush Administration release $590 million of LIHEAP emergency heating assistance funds that will help seniors and working families keep warm this winter.

'In addition to releasing LIHEAP assistance, the President can help Americans facing high energy prices by supporting our efforts to reinvest billions of subsidies for Big Oil in renewable fuels and clean energy and endorsing pro-consumer policies that will protect American's from price gouging.

'When the President has worked with Democrats in Congress, we have accomplished great things, such as our historic energy legislation that saves consumers money and makes America more energy independent by raising fuel economy standards for cars and trucks and boosting our investment in homegrown biofuels. I hope the President will again join with us as the New Direction Congress fights to protect America's working families from skyrocketing energy prices.'