Millions of American families and small businesses are hurting
because of higher gasoline prices. My administration is doing
everything we can to make gasoline more affordable. In the near-term,
we will continue to encourage oil producing nations to maximize their
production. Here at home, we'll protect consumers. There will be no
price gouging at gas pumps in America.
We must address the root causes that are driving up gas prices.
Over the past decade, America's energy consumption has been growing
about 40 times faster than our energy production. That means we're
relying more on energy produced abroad. To reduce our dependence on
foreign sources of energy, we must take four key steps.
First, we must
better use technology to become better conservers of energy.
Secondly,
we must find innovative and environmentally sensitive ways to make the
most of our existing energy resources, including oil, natural gas, coal
and safe, clean nuclear power.
Third, we must develop promising new sources of energy, such as
hydrogen, ethanol or biodiesel.
Fourth, we must help growing energy
consumers overseas, like China and India, apply new technologies to use
energy more efficiently, and reduce global demand of fossil fuels.
I
applaud the House for passing a good energy bill. Now the Senate needs
to act on this urgent priority. American consumers have waited long
enough. To help reduce our dependence on foreign sources of energy,
Congress needs to get an energy bill to my desk by this summer so I can
sign it into law.