Senator John Kyl says ethanol mandates as well as bad tax and regulatory policies are to blame for the exorbitant fuel prices hammering American families.
The American Automobile Association reports the price of gasoline has hit a nationwide record high and that many Americans are wondering what Congress is doing to bring the cost of energy down. On Friday, Senate Republicans held an energy forum that featured panelists from Shell Oil, the National Mining Association, and the Nuclear Energy Institute. Speaking at the forum, Arizona Senator John Kyl (R-Arizona) said Congress has failed to appreciate the cause-and-effect relationship between too many actions. "There is a cause-and-effect relationship between the ethanol mandates and the rising cost of food and fuel," stated the conservative lawmaker. "There is a definite cause-and-effect relationship between our tax policies, our regulatory policies, and our failure to control runaway litigation when it comes to the businesses that need to be present and able in the United States to supply what we need to supply to a nuclear-generation industry." And according to the senator, another factor not usually associated with rising fuel costs has "a dramatic impact" on the cost of gasoline at the pump. "[O]ur U.S. dollar isn't worth very much these days compared to what it used to be and compared to other countries' currencies," Kyl said, "[and] as a result ... we have to use a lot more dollars to buy the same thing." Last week the Senate passed a seven-month suspension of placing oil in the Strategic Petroleum Reserve, yet defeated a Republican package that would have increased oil production by opening a portion of the Arctic National Wildlife Refuge to drilling.
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