Senator Sherrod Brown Applauds Senate Efforts To Hold Big Oil Accountable, Cosponsors Bill To Put Consumers First


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FOR IMMEDIATE RELEASE May 7, 2008 5:14 PM	CONTACT: Senator Sherrod Brown Joanna Kuebler (202) 224-3978

Brown Applauds Senate Efforts To Hold Big Oil Accountable, Cosponsors Bill To Put Consumers First

WASHINGTON, DC - May 7 - In light of oil prices reaching a record $123 a barrel, Senate Democrats today introduced the Consumer-First Energy Act. The bill would create a tax on windfall profits of major oil companies, permit investigations into potential price gouging and collusion, temporarily halt the storage of oil in the Strategic Petroleum Reserve, and rein in out of control energy speculators. U.S. Senator Sherrod Brown (D-OH), a cosponsor of the legislation, responded to today’s introduction: “Families across the nation are hurting because of this administration’s close ties to Big Oil. Ohio families, farmers, and businesses will spend nearly a billion more dollars on gasoline this month than they did in January of 2001. The policies that created this gas price crisis didn’t happen overnight. It’s time we put consumers first. Ohioans need help now to get through the summer, to keep the trucks running, and to keep the economy moving. The Consumer-First Energy Act would require Big Oil to pay its fair share given its windfall profits. Instead of continuing to subsidize major oil companies, it’s long past time to reinvest those dollars in alternative energy.” ###

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