Rep. Cole Votes For Legislation to Help Curb Energy Prices

Washington, D.C.--Congressman Cole voted for two pieces of legislation today that will help reign in rising energy prices. The Refinery Permit Process Schedule Act passed with bi-partisan support in the House today. The Federal Energy Price Protection Act gained a majority of the vote but failed to garner a two-third majority that is necessary to pass legislation under an expedited process known as suspension of the rules.

"Gasoline prices are rising and demand is increasing, but meanwhile, no new refinery has been built in the United States in the past 30 years. If we expect gasoline to remain affordable, we must allow for additional refinery capacity," Rep. Tom Cole said. "One of the reasons additional refineries haven't been built is due, in part, to a permitting process that is overly burdensome. The refinery bill that was debated in the House today would have helped resolve this problem."

The Refinery Permit Process Schedule Act will help expand refinery capacity in the U.S. by establishing a federal coordinator who will work with every government agency responsible for issuing permits so that decisions on permits can move quickly and efficiently. This legislation will help eliminate needless bureaucratic delay in the permitting process for new or expanded gasoline, biofuel or distillate-processing facilities. It also directs the president to identify at least three closed military bases as suitable sites for new refineries, one of which must be designated for biofuel refining.

"To help reduce our dangerous dependence on foreign oil, we must increase domestic production. Building new refineries is a big part of that goal," Rep. Tom Cole said.

The Federal Energy Price Protection Act, which prohibits and penalizes price gouging of gasoline, diesel fuel, crude oil, home heating oil and biofuels. This legislation directs the Federal Trade Commission (FTC) to define “price gouging,” within six months of enactment. It provides for strong civil enforcement by the FTC and by states’ attorneys general, and criminal enforcement by the U.S. attorney general and the Department of Justice. The Federal Energy Price Protection Act also lays out both civil and criminal penalties for price gouging.

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