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Fact vs. Fiction: Rising Gas Prices #justice4all

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Published on Mar 14, 2012

Washington D.C. -- Across America, people have been feeling the pain of rising gas prices. As Americans struggle, Republicans have been taking advantage of rising gas prices by blaming President Obama and Democrats as part of their political agenda. Democrats are interested in helping the American people -- not phony debates.

The price of oil is set on the world market. The real reason the price of oil has skyrocketed has been: instability in the Middle East, increased demand for oil in developing nations, rampant speculation on Wall Street and price gouging by Big Oil.

Republicans have blamed Democrats for inadequate U.S. production for high gas prices, yet the number of oil rigs in the U.S. has quadrupled under President Obama. Domestic oil production is at an 8 year high; imports are at a 17 year low. There are more oil rigs operating in the U.S. than in the rest of the world -- combined.

Simply put, "Drill, baby, drill" isn't the answer.

Republicans have been giving tax breaks for Big Oil. The 5 largest Big Oil companies earned $137 billion in 2011. Americans are paying a taxpayer subsidy to these oil companies that made more in profits in one minute last year (about $85,000) than the average American worker earns all year long.

Democrats have been working on an all-of-the-above approach towards American energy that involves developing new domestic energy sources, expanding oil and gas production and reducing our reliance on foreign oil. We have also been working on: using the Strategic Petroleum Reserve to increase supply and combat price hikes, investing in American energy to create American jobs, establishing fuel economy standards that will save American's $1.7 trillion dollars and passing the Federal Price Gouging Prevention Act which targets price gougers.

It is time for action and fairness on behalf of all Americans... Republicans will you help us ease pain at the pump?

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