Gas Prices

Address Skyrocketing Gas Prices
The Bush Administration and the rubber stamp Republican-controlled Congress protected the interests of the big oil companies for six years. Today, during a time of record oil and gas prices, and record revenues and profits for the oil industry, the Republicans continue to protect these companies at the expense of the New Mexico taxpayer. We need to do what’s right for America and New Mexico – not what’s right for Big Oil companies. They’re doing just fine on their own. New Mexicans and Americans need an energy policy that works for them. That’s one of the reasons I’m running for the U.S. Senate.

Shift to Alternative Energy
As long as the United States relies on foreign energy sources, our national security is at risk. That is just one of many reasons why we need to shift to alternative sources of energy. I have introduced, and secured passage in the House, bipartisan legislation to require electric utilities to produce at least 15% of their electricity from alternative sources and energy efficiency measures by 2020. If the Senate had not blocked this legislation, we would have reduced our dependence on foreign sources of energy, reduced global warming emissions, and spurred job creation and economic development throughout our state.

Eliminate Subsidies for Big Oil
We need to invest in alternative energies, promote greater vehicle and appliance efficiencies, and enact a comprehensive energy policy. Consumers are now paying the highest gas prices in history and big oil reaps record profits. We need to eliminate subsidies for big oil and promote alternative energy sources.

Fight Price Gouging at the Pump
I will push for stronger legislation to fight price gouging at the pump. With the wild fluctuations in the price of imported oil, some refiners and distributors are taking advantage of hard working families. We need to pass stronger legislation to make sure that when prices for crude oil drop, so will the price of gasoline.

Stop Hedge Fund Speculators from Driving Up the Price of Oil
Greedy hedge fund speculators are driving up the price of oil beyond what even the oil industry thinks is reasonable. By some estimates as much as a third of the current price of a barrel of oil comes from rampant speculation in the commodities market. Reasonable regulation, like those that control virtually every other market in this nation, would put a halt to this oil bubble, bring the price of oil down to more reasonable levels – and take at least a dollar off the present price of a gallon of gas. We need to rein in these rogue traders and put a halt to harmful speculation.