June 20, 2000

Richardson Called to Testify On Rising Gas Prices

Committee also seeks testimony from EPA Administrator and FTC Chairman

 

Washington D.C., — Chairman Dan Burton (R-IN) today announced that he has asked Energy Secretary Bill Richardson, Environmental Protection Agency Administrator (EPA) Carol Browner and Federal Trade Commission (FTC) Chairman Robert Pitofsky to testify at a hearing on the Federal Government's response to the recent, dramatic rise in gasoline prices.  The hearing will take place on Wednesday, June 28, 2000, at 1:00 p.m. in room 2154 of the Rayburn Building.

The OPEC nations recently forced a dramatic rise in oil prices by agreeing to decrease production.  Although OPEC has recently agreed to relax these restrictions, gas prices have continued to climb.  The effect has been widely felt at the gas pump where prices have reached over $2.00 in some areas.

Secretary Richardson will be asked to discuss the underlying causes of the recent explosion in gas prices and how the U.S. strategic petroleum reserves could be used to alleviate the problem.  EPA Administrator Carol Browner will be asked about her agency's rules mandating the use of reformulated gasoline in selected metropolitan areas.  Chairman Pitofsky will face questions regarding potential investigations of oil company pricing policies.

"The Clinton Administration's reaction to this problem has been slow and haphazard," Burton said.  "When the price of gasoline more than doubles in some areas in a matter of a few months, that poses a serious threat to our economy.  I'm not sure it has gotten the serious attention it deserves from the Administration.  There are a number of things the Federal Government can do to alleviate these soaring fuel costs.  We intend to ask our witnesses what steps can be taken to get this problem under control."

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Committee on Government Reform
2157 Rayburn House Office Building
Washington, DC 20515 (202) 225-5074

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