Sunday, July 13, 2008
I was saddened to read the July 7 Public Forum letter criticizing U.S. Rep. G.K. Butterfield's perceived inaction on gas prices.
In response to a letter I wrote to him on fuel prices, Butterfield included the following points:
Refineries have greatly increased their profit margins. Butterfield voted June 24 to provide the Federal Trade Commission with new authority to investigate and prosecute those who engage in predatory pricing and other unfair practices (H.R. 6346).
It is estimated that up to 50 percent of all energy trades are over the counter, where speculation occurs without any regulation or oversight by the federal government. Butterfield voted in favor of H.R. 6377 to direct the Commodity Futures Trading Commission to stop excessive speculation.
Since 2004, oil and gas companies have stockpiled and then stood idle on almost 10,000 domestic drilling permits covering 68 million acres of federal land. Offshore, just 10.5 million of the 44 million leased acres are currently being used to produce oil or gas. If the inactive leases already granted were put to good use immediately, we could nearly double total U.S. oil production, and increase natural gas production by 75 percent. Butterfield has cosponsored H.R. 6251, the Federal Oil and Gas Lease Act, which would force oil and gas companies to either produce or give up federal onshore and offshore leases.
Congress made a good start when it passed the Energy Independence and Security Act. Among other things, this law raises the Corporate Average Fuel Economy (CAFE) standards so that we will have more fuel efficient vehicles and less dependence on foreign energy sources.
Contact your state and federal representatives to let them know your opinions and to get answers on important issues. Let's quit the partisan criticism and be effective constituents.
ART LANGRISH
Grimesland
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