Pressure at the Pump
Here in the Hudson Valley, where commuting is an unavoidable necessity and a way of life, the price to fill up the tank is forcing some painful sacrifices. With the price of food, healthcare, higher education, and consumer goods rising, working families were already feeling the pinch. Now, the outrageous spike in gasoline prices has elevated the middle class squeeze into a full court press on home budgets.
Luckily, we have an ace in the hole that can help lower gas prices immediately: the Strategic Petroleum Reserve. I'm supporting a bill in Congress, the Strategic Petroleum Reserve (SPR) Fill Suspension and Consumer Protection Act, which would halt our purchase of oil for the reserve through the end of the year or until the price of oil stays under $50 per barrel for three months. At a time of record prices, suspending the government's purchase of oil for the SPR could reduce gas prices by 5 to 24 cents a gallon.
