Today in Rhode Island, the average price of one gallon of regular unleaded gasoline reached $1.77 – almost five cents above the national average, and a record high in my state.  Thousands of my constituents depend on their automobiles to get to their jobs each day and simply cannot afford the drastic increase in gas prices that they are being forced to pay.  Additionally, this problem has a significant impact on Rhode Island's economy, which relies heavily on summer tourism.  Increased gasoline costs threaten to discourage people from summer travel, which would have a disastrous effect on our communities.

We need a solution to this problem now.

I have contacted the Administration and insisted that any energy strategy that they develop must help American consumers by lowering gas prices.  Both the President and the Vice President have extensive experience and contacts in the oil industry.  I am certain that, if properly motivated, they could find a way to lower gasoline prices and bring relief to the Americans that have been hardest hit by this price spike.

Our national energy strategy must also incorporate technologies to improve vehicles’ fuel efficiency standards, in order to reduce our runaway consumption of oil and gasoline.  For example, requiring SUVs to meet the fuel efficiency standards of passenger cars would reduce U.S. oil consumption by 1 million barrels per day -- approximately the daily estimated oil yield from drilling in the Arctic National Wildlife Refuge.  Even though the technology currently exists to make our nation’s cars and SUVs more fuel efficient, Congress has blocked the establishment of higher standards since 1995.  I intend to work with my colleagues in Congress to increase fuel efficiency standards, not only to cut our consumption of oil and gasoline, but also to reduce emissions of carbon dioxide, the greatest contributor to global warming.

I am optimistic that the United States will take advantage of our current energy debate to develop a forward-thinking plan for the future.  We must establish an energy strategy that addresses short-term and long-term problems, is environmentally responsible, and truly benefits the American consumer.

Thank you, Mr. Speaker.