U.S. Senator Ken Salazar

Member: Finance, Agriculture, Energy, Ethics and Aging Committees

 

2300 15th Street, Suite 450 Denver, CO 80202 | 702 Hart Senate Building, Washington, D.C. 20510

 

 

For Immediate Release

Friday, April 11, 2008

CONTACT:Stephanie Valencia – 202-494-8790
Cody Wertz – 303-350-0032

Sen. Salazar Urges President to Take Immediate Action to Curb Price of Oil In Light of Severe Downturn in Airline Industry & Impact on Consumers

 

WASHINGTON, DC – Today, United States Senator Ken Salazar wrote a letter to the President urging him to take immediate action to help bring down the price of oil, which has directly and negatively affected the airline industry and American consumers. The steps Senator Salazar asked the President to take include:

  • Placing a one-year moratorium on additions to the Strategic Petroleum Reserve and to consider releasing oil from the reserve to address supply problems that contribute to the high price of fuel for American consumers; and
  • Urging oil-producing countries in the Middle East to increase oil supplies in order to avoid a global economic downturn.

In his letter to the President, Senator Salazar wrote, “If the price of oil remains at historic highs, these painful and unpredictable effects on our economy will only worsen… I believe this is a time for action. I hope you will consider these two recommendations as constructive steps toward addressing the economic hardships brought about by record-high oil prices.”

In related action today, Senator Salazar cosponsored the ‘Strategic Petroleum Reserve Fill Suspension and Consumer Protection Act of 2008.’ The bill, sponsored by Senator Byron Dorgan (D-ND) directs the Energy Secretary to temporarily stop pulling more than 50,000 barrels of oil a day off the open market to put it underground in the Strategic Petroleum Reserve when crude oil prices are at record levels. The bill also requires the federal government to suspend acquisition of oil for the Strategic Petroleum Reserve for the rest of 2008 or until the price of petroleum falls to $50 or less.

Click here to read the full letter Senator Salazar sent to the President today.

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