Markey: Oil Hits the Ben Franklin Mark
$100 Oil During Cold Snap Highlights Need for More Low-income Heating Assistance from President, Says Chairman MarkeyWASHINGTON (January 2, 2008) – Today oil hit the $100 mark for the first time ever, just as millions of American heating oil consumers were hit with yet another strong snowstorm to accompany escalating oil prices. Accordingly, Rep. Edward J. Markey (D-Mass.) called on the President to release emergency funds under the Low Income Home Energy Assistance Program (LIHEAP) to give consumers a break from the cold weather and hot prices, as heating oil joined crude oil in hitting a record high today above $2.73 per gallon. The LIHEAP program contains $600 million in contingency funds, released at the discretion of the President.
“It’s not just the weather that is sending a chill down the spines of many Americans, it’s the oil prices heating up as well,” said Rep, Markey, Chairman of the Select Committee on Energy Independence and Global Warming. “While Congress recently addressed long-term oil dependence by passing fuel economy standards, the President must address our short-term dependence by releasing emergency low-income energy assistance funds to offset current high heating oil prices.”
The Select Committee was active during the 110th and 111th Congresses. This is an archived version of the website, to ensure that the public has ongoing access to the Select Committee record. This website, including external links, will not be updated after Jan. 3rd, 2010.
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