May 23, 2018
America must move towards energy independence in a manner that does not threaten the environment, or kill job creation. I believe we need to consider all available options including wind, solar, bio, nuclear and drilling right here at home. As part of that effort, I think we need to increase domestic oil production. That’s why I have been a strong proponent for the Keystone XL pipeline that will bring thousands of barrels of oil to the U.S. each day, not to mention, create thousands of American jobs – some of which will be created right here in Cincinnati at our Siemens plant.
To help lower gas prices at the pump, I have introduced legislation to stop price-gouging and anti-competitive behavior by OPEC nations. When we first introduced this legislation more than a decade ago, gas prices were climbing toward $3 a gallon, and would eventually peak at over $4 a gallon in 2008. In recent years, we have done a good job reducing our dependence on foreign sources of oil, by increasing domestic production. Consequently, we have had much lower gas prices. However, we are still subject to fluctuations in the global market. The lower prices have angered oil cartels around the world, and now OPEC is ramping up its price-gouging efforts once again.
My legislation would significantly help to fight price-gouging by subjecting OPEC nations to antitrust laws, and prohibiting them from unilaterally withholding supply with the intent of creating a shortage or raising prices. We managed to pass this important legislation in the House a few years back, but now we must finish the job and get this bipartisan legislation to President Trump’s desk for his signature.
