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From the Select Committee on Energy Independence and Global Warming:

DOE Responds to Markey Request: Will Start Filling the Strategic Petroleum Reserve While Cost of Oil Is Low

Consumers and Taxpayers Benefit by Government Taking Advantage of Low Price of Oil

Speaker Pelosi and House Budget Committee Chairman John Spratt announced their support for Dr. Douglas W. Elmendorf to become Director of the Congressional Budget Office. Under the Budget Act, the Director is appointed by the Speaker of the House and the President Pro Tempore of the Senate, after considering recommendations from the House and Senate Budget Committees. By custom, the House and Senate alternate in taking the lead role on the CBO Director's selection; this time it is the House's turn. Chairman Spratt stated that he will convene the Budget Committee and ask it to recommend Dr. Elmendorf while Speaker Pelosi announced her intention to name him to the position:

Several recent news reports highlight the failure of the Bush Administration to protect the taxpayers as Congress intended when we wrote tough accountability in the Troubled Asset Relief Program. It is unacceptable to Congress and to taxpayers that the Treasury Department cannot guarantee that financial institutions are properly using taxpayer assistance to ease the credit crunch. And it is outrageous that those institutions cannot -- or will not -- provide information on how they are spending billions of taxpayer dollars.

I have asked Financial Services Committee Chairman Barney Frank to develop legislation to strengthen accountability, ensure that TARP funds are used to free up credit for consumers, and provide mortgage relief so more homeowners can stay in their homes.

Today, President-elect Obama nominated Rep. Hilda Solis as Secretary of Labor:

Speaker Pelosi:

The President's announcement this morning provides an opportunity for the American automakers to become viable and competitive while securing millions of jobs. The auto companies and all other parties now must engage in comprehensive negotiations that will require all parties to make concessions.

The White House proposal unfortunately singles out workers and clearly puts them at a disadvantage before negotiations have even begun. It is essential that the development of the restructuring plans proceed in a fair and equitable manner, that the necessary sacrifice be mutual, and all laws governing fuel efficiency, emissions and improvements in automotive technology be preserved.