Obama Administration’s Answer to High Gas Prices? New Regulations That Will Drive Prices Even Higher at the Pump
WASHINGTON, DC – Despite stubbornly high gas prices, the Obama administration today announced it is moving forward with a new regulation for gasoline that is expected to drive prices at the pump even higher. The Environmental Protection Agency unveiled its new Tier 3 rule requiring ultra-low sulfur gasoline as well as new tailpipe emissions standards for cars and light trucks. The agency has stated the proposal would cost no more than one cent per gallon of gasoline, while one industry study estimates the new regulation will add 6 to 9 cents per gallon.
“Increases in gas prices disproportionately hurt the nation’s most vulnerable individuals and families - with $4 dollar a gallon gas the norm in many parts of the country, we cannot afford policies that knowingly raises gas prices,” said Energy and Commerce Committee Chairman Fred Upton (R-MI). “Instead of raising gas prices, the Obama administration should focus on bringing stability and greater supplies to our energy markets by green-lighting projects like the Keystone XL pipeline, which will carry approximately one million barrels per day of oil from a close ally to the United States.”
“The Obama administration cannot be more out of touch. With hard-pressed families already struggling to afford each fill-up, Congress needs to take a hard look at any new EPA regulation that may raise the price at the pump. We will review this new proposal to make sure that it delivers air quality benefits at the least cost to the driving public while preserving auto and refining industry jobs. This is just another example of an overzealous EPA,” added Ed Whitfield (R-KY), Chairman of the Energy and Power Subcommittee.
Last year, the House passed H.R. 4480, the Domestic Energy and Jobs Act, which would have deferred the finalization of Tier 3 pending an inter-agency analysis of its impact, along with other pending regulations, on energy prices, jobs, and American competitiveness.