Congress Urged to Lower Gas Prices by 50 Cents a Gallon Immediately.

(SAVANNAH, GA) - Congress should immediately lower gas and diesel prices 50 cents a gallon by temporarily suspending fuel taxes and tariffs, and pay for the tax cut by ending subsidies for oil companies, according to 12th District Congressional Candidate John Stone.

Stone today kicked off a series of news conferences and radio commentaries across the district calling for emergency action to relieve hard-hit consumers and truckers, and for long-term reform to permanently address America's decades-long energy problems.

The House and Senate yesterday approved legislation temporarily suspending government oil purchases for the U.S. strategic oil reserve, but the measure is only expected to save consumers 2-5 cents at the pump.

"Americans simply cannot afford today's gas and diesel prices," Stone says. "If oil prices continue at the current rate or increase further we risk a major recession. Yesterday's actions by Congress are too little and too late to have any significant impact on the problem."

Stone says talk about long-term energy reform is good, but does nothing for working families facing outrageous pump prices, and jacked up grocery prices due to increased transportation costs and corn demand for ethanol.

The former senior congressional staffer called for both short and long-term national energy plans:

Cut Pump Prices 50 cents NOW

1. Cut Federal and State Gas Taxes - Savings: 45 cents a gallon

   
   Federal and state gas taxes currently make up an average of 45 cents a gallon. Congress should vote to temporarily suspend federal gas taxes for an initial 90 days, and block grant funds to the states to encourage them to do the same. The tax cut should be paid for by repealing the tax subsidies currently paid to the major oil companies and subsidies for corn ethanol, which have in fact played a significant role in driving up gas and food prices. The U.S. should also consider suspension of foreign aid to OPEC countries for additional savings to pay for the cut.



2. Lift the 54 Cent per Gallon Import Tariff on Ethanol - Savings: 10 cents a gallon

   
   The US currently places a 54 cent per gallon tariff on imported ethanol, primarily from Brazilian sugar cane, to give U.S. corn ethanol a competitive edge domestically. Right now, consumers need the help more than does the corn ethanol industry. Further, by taking the pressure off domestic corn supplies, we can hopefully drive down food prices.
   "While these temporary measures will ease the pain of consumers and truckers immediately, they don't solve U.S. long-term energy problem," Stone says. "For that, we need a commitment identical to our 1960's drive to put a man on the moon before the end of the decade."

A Ten-Year Plan for US Energy Independence

1. Expand Ethanol Development, Cut Corn Use - corn ethanol has turned out to be a mistake, driving food prices up by using a major staple crop for fuel use. In addition, corn has proved to very inefficient and costly source of ethanol compared to sugar cane, switch grass, and other ethanol sources.


2. Build New US Refineries NOW - environmental regulations and oil industry profiteering have blocked construction of new refineries for years. Congress should ease regulations and allow the private sector to get new refineries online within a time certain, or assign the mission to the Department of Energy.


3. Maximize US Oil Production - Congress should immediately authorize drilling in every possible U.S. location, including ANWR and offshore. Liberals and radical environmentalists have blocked this for a decade, leading to our current crisis. China is currently drilling 45 miles off the Florida coast, where U.S. companies are banned.


4. Encourage Hybrid/Electric/Alternate Fuel Vehicle Development - in ten years, the majority of the U.S. new car and light truck fleets should be converted away from traditional gas and diesel power only.


5. Increase Public Transportation - mass transit use is at an all-time high and many more commuters in major metro areas would ride if the opportunity existed.


6. Expand Nuclear, Hydro, Wind, and Geothermal Energy to Provide 100% of US Electricity Needs - and eliminate all fossil fuel plants, improving air quality.


7. Expand Research into Alternate Fuels - the Department of Energy should spearhead nationwide research into eliminating the majority of fossil fuel use at the earliest possible date in a way that maintains both a healthy economy and environment.