IV 
109TH CONGRESS 
1ST SESSION 
H. RES. 299 
Expressing the sense of the House that the President should take immediate 
action to initiate measures to lower the burden of gasoline prices on 
the economy of the United States, prevent Members of the Organization 
of Petroleum Exporting Countries from reaping windfall profits on sales 
of oil to the United States, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
MAY 26, 2005 
Mr. BISHOP of New York submitted the following resolution; which was re-
ferred to the Committee on Energy and Commerce, and in addition to 
the Committees on International Relations and Judiciary, for a period to 
be subsequently determined by the Speaker, in each case for consider-
ation of such provisions as fall within the jurisdiction of the committee 
concerned 
RESOLUTION 
Expressing the sense of the House that the President should 
take immediate action to initiate measures to lower the 
burden of gasoline prices on the economy of the United 
States, prevent Members of the Organization of Petro-
leum Exporting Countries from reaping windfall profits 
on sales of oil to the United States, and for other pur-
poses. 
Whereas the price of crude oil and gasoline have a direct and 
substantial impact on the financial well-being of families 
of the United States, the potential for economic recovery, 
and for protecting the national security;
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Whereas the United States currently imports the majority of 
its crude oil from foreign countries; 
Whereas the 11 countries that make up the Organization of 
Petroleum Exporting Countries (OPEC) produce 40 per-
cent of the world’s crude oil and control three-quarters 
of proven reserves, including much of the spare produc-
tion capacity; 
Whereas despite the severely high sustained price of crude 
oil— 
(1) OPEC has refused to adequately increase pro-
duction to calm global oil markets and officially aban-
doned its $22–$28 price per barrel target; and 
(2) officials of OPEC member nations have publicly 
indicated support for maintaining oil prices of $40–$50 
per barrel; 
Whereas on April 1,2005 the price of crude oil reached a 
record high of $57 per barrel and remains in the $50 
range; 
Whereas increases in the price of crude oil result in increases 
in prices paid by the United States consumers for refined 
petroleum products, including, gasoline, and diesel fuel, 
and home heating oil; 
Whereas increases in crude oil prices already have resulted in 
American consumers and families paying more for cost 
increases for gasoline at the pump, which reached an av-
erage national high of $2.28 a gallon in April 2005, and 
analysts predict that this level could continue throughout 
the summer driving season; 
Whereas increases in the costs of refined petroleum products 
have a negative effect on many Americans, including the 
elderly and low-income individuals (whose home heating
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oil costs have dramatically increased in the last year), 
families who must pay higher prices at the gas station, 
farmers (already hurt by low commodity prices, trying to 
factor increased costs into their budgets in preparation 
for the growing season); truckers (who face an almost 
14-year high in diesel fuel prices), and manufacturers 
and retailers (who must factor in increased production 
and transportation costs into the final price of their 
goods); 
Whereas under current estimates, a family of four will spend 
$2,873 on gasoline this year, $423 more than last year 
and almost $800 more than two years ago, based on in-
formation from the Bureau of Labor Statistics Consumer 
Expenditure Survey and the Energy Information Admin-
istration; 
Whereas the President has failed to use a variety of tools at 
his disposal to provide gasoline price relief to working 
families, including proper management of the resources 
of the Strategic Petroleum Reserve (SPR) that could pro-
vide the United States with a way to counterbalance 
OPEC supply management policies; the President has not 
forcefully pressed all OPEC Member Countries to imme-
diately increase oil production in order to lower crude oil 
prices and safeguard the world economy; 
Whereas the President declined to insist on measures to lower 
gasoline prices as he was encouraging Congress to enact 
the Energy Policy Act of 2005, and postponed introduc-
tion of alterative fuel and hybrid vehicle initiatives until 
after the House of Representatives passed the Energy 
Policy Act; 
Whereas the Energy Information Administration of the De-
partment of Energy has determined that the President’s
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energy bill will not reduce energy prices or reduce Amer-
ica’s dependence on imported oil, finding that provisions 
of the energy conference report of 2004 [substantially 
similar to the energy bill passed by the House in April, 
2005] would have a negligible impact on changes to pro-
duction, consumption, imports, and prices, and that pro-
visions would actually increase the price of gasoline by 3 
cents per gallon and would still increase United States 
dependence on foreign oil by 85 percent; 
Whereas Current policy of filling the SPR has exacerbated 
the rising price of crude oil and record high retail price 
of gasoline, and is unnecessary since the SPR is more 
than 98 percent full; and 
Whereas increasing vertical integration and consolidation of 
oil companies have allowed— 
(1) the 5 largest companies in the United States to 
control almost as much crude oil production as the mid-
dle Eastern members of OPEC, over 1⁄2 of domestic re-
finer capacity, and over 60 percent of the retail gasoline 
market; and 
(2) the top 10 oil companies in the world to make 
more than a record-setting $100,000,000,000 in profits 
in 2004, and announce first-quarter earnings that would 
put them on track to break that record in 2005: Now, 
therefore, be it 
Resolved, 
SECTION 1. SENSE OF THE HOUSE OF REPRESENTATIVES. 
It is the sense of the House of Representatives that 
the President should directly communicate to the members 
of OPEC that—
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(1) the United States believes that restricting 
supply in the growing market for crude oil does seri-
ous damage to the efforts that OPEC members have 
made to demonstrate that they represent a reliable 
source of crude oil supply; 
(2) the United States believes that stable crude 
oil prices and supplies are essential for strong eco-
nomic growth throughout the world; and 
(3) the United States seeks an immediate in-
crease in OPEC crude oil production quotas. 
SEC. 2. STRATEGIC PETROLEUM RESERVE. 
(a) The President shall temporarily suspend further 
acquisitions of crude oil for the Strategic Petroleum Re-
serve through his administrative authority, thereby freeing 
up additional supply for the marketplace. 
(b) Further purchases of oil to the Strategic Petro-
leum Reserve shall be suspended immediately, thereby 
freeing up additional supply for the marketplace. 
(c) When and if prices decline substantially below the 
current high levels, any determination by the Secretary of 
Energy to resume purchases should follow the market- 
based practices used prior to 2002; carry out and make 
public analyses of costs and savings when making or defer-
ring such acquisitions; take into account and report to 
Congress the impact the acquisition will have on the do-
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mestic and foreign supply of petroleum and the resulting 
price increases or decreases; and consult with the Sec-
retary of Homeland Security on the security consequences 
of such acquisition or deferral. 
(d) The existing statutory cap of 700,000,000 barrels 
of crude oil should not be increased while crude oil prices 
remain at current high levels. 
SEC. 3. GASOLINE MARKET ANTICOMPETITIVE PRACTICES. 
(a) The President shall direct the Federal Trade 
Commission and Attorney General to exercise vigorous 
oversight over the oil markets to protect the American 
people from price gouging and unfair practices at the gas 
pump, including, but not limited to exercising their au-
thorities under the federal antitrust laws to block anti- 
competitive mergers of companies that explore for oil, own 
refineries, or act as wholesalers or retailers of gasoline or 
other petroleum products refined from oil. 
(b) In evaluating whether any combination of refiners 
violates the antitrust laws, the Commission or the Attor-
ney General shall not approve any combination that would 
create a highly concentrated market that would injure, de-
stroy, or limit competition. The evaluation should include 
the prospect of zone pricing, redlining, exporting oil to 
other countries, or withholding gasoline supplies from the 
market.
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SEC. 4. TRANSPARENCY IN OIL PRICING. 
The Federal Trade Commission, in consultation with 
the Secretary of Energy, shall issue regulations requiring 
full disclosure by refiners and distributors of their whole-
sale motor fuel pricing policies, with a separate listing of 
each component contributing to prices, including the cost 
of crude oil (with exploration, extraction, and transpor-
tation costs shown separately if the refiner or distributor 
is also the producer of the crude oil), refining, marketing, 
transportation, equipment, overhead, and profit, along 
with portions of any rebates, incentives, and market en-
hancement allowances. 
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