U.S. Senator Lamar Alexander (R-Tenn.) today made the following statement after voting against cutting off debate on the Energy Speculation bill (S. 3268):
“This is the wrong approach to fixing $4 gasoline prices,” Alexander said. “The Senate shouldn’t adjourn until we have a full debate on finding more American energy and using less. That is what we should be doing, but instead the Democrat leadership is playing parliamentary games that are blocking a full and open process to debate and vote on real solutions the American people are expecting and deserve. We must pass balanced legislation, like the Gas Price Reduction Act, that will both find more American energy through offshore exploration and oil shale and use less by supporting new technologies like plug-in electric cars.”
Last month, Alexander joined in introducing the Gas Price Reduction Act (S. 3202). Specifically, the bill would:
• “Find More” – increasing American production by one-third through offshore exploration and western states oil shale (3 million new barrels a day).
• “Use Less” – reducing imported oil by one-third by making it easier for millions of Americans to drive plug-in electric cars and trucks (4 million barrels of oil savings a day). The bill also encourages the federal government to increase its purchases of electric vehicles.
• Provide for the addition of 100 employees at the Commodity Futures Trading Commission (CFTC) to beef up oversight of oil speculators.
The motion to end debate on S. 3268, the Energy Speculation bill, received 50 votes. Under Senate rules, 60 votes were required.