Title: A resolution expressing the sense of Congress about the need to stop excessive price increases by oil and gas companies and the importance of rapidly transitioning to a clean energy economy.
Policy area: Energy

Summary:
This resolution expresses the sense of the Senate that Congress and the President must stop price gouging and excessive price increases by oil and gas companies and help consumers and small businesses harmed by rising energy prices. The resolution also calls for the United States to transition to a clean energy economy.

[Congressional Bills 117th Congress]
[From the U.S. Government Publishing Office]
[S. Res. 608 Introduced in Senate (IS)]

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117th CONGRESS
  2d Session
S. RES. 608

Expressing the sense of Congress about the need to stop excessive price 
   increases by oil and gas companies and the importance of rapidly 
                transitioning to a clean energy economy.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                              May 2, 2022

 Mr. Merkley (for himself, Mr. Murphy, Ms. Warren, Mr. Booker, Mr. Van 
 Hollen, and Mr. Blumenthal) submitted the following resolution; which 
     was referred to the Committee on Energy and Natural Resources

_______________________________________________________________________

                               RESOLUTION


 
Expressing the sense of Congress about the need to stop excessive price 
   increases by oil and gas companies and the importance of rapidly 
                transitioning to a clean energy economy.

Whereas the war in Ukraine has once again highlighted that the dependence of the 
        United States and our allies on fossil fuels threatens the national 
        security of the United States and our allies;
Whereas, according to Pulitzer Prize-winning author Daniel Yergin, clean energy 
        first emerged in the 1970s for energy security purposes;
Whereas authoritarian regimes across the world are using fossil fuel revenue to 
        support their regimes and to undermine freedom;
Whereas, according to Dr. Jeff Colgan, countries that rely on oil and gas 
        revenue are more likely to instigate military conflict;
Whereas the Russian Federation's Ministry of Finance has reported that 40 
        percent of the Russian Federation's budget is derived from oil and gas 
        production;
Whereas Americans are suffering from high gasoline and energy prices that, 
        according to the Energy Information Administration, have been 
        exacerbated by the war in Ukraine;
Whereas oil and gas companies are profiteering off of Russia's war in Ukraine by 
        inflating gas prices at the expense of their consumers;
Whereas oil and gas companies were reporting record profits even before raising 
        gasoline prices in the wake of the war in Ukraine;
Whereas the Energy Information Administration has reported that gasoline prices 
        have remained high even after the price of oil has dropped;
Whereas the biggest oil and gas companies have indicated that much of their 
        record profits will be diverted to executives and shareholders;
Whereas the Department of Defense has found that increasing temperatures, 
        changing precipitation patterns, and more frequent, intense, and 
        unpredictable extreme weather conditions caused by climate change are 
        exacerbating existing risks and creating new security challenges for 
        United States interests; and
Whereas energy efficiency and renewable energy from domestic manufacturers can 
        come online more quickly and reliably than oil and gas production, which 
        will ensure United States energy independence and help us maintain a 
        safe and healthy climate: Now, therefore, be it
    Resolved, That it is the sense of the Senate that--
            (1) Congress and the Biden Administration must--
                    (A) stop price gouging and excessive price 
                increases by oil and gas companies; and
                    (B) help consumers and small businesses that are 
                being harmed by rising energy prices; and
            (2) the United States must transition to a clean energy 
        economy as quickly as possible to protect our national 
        security.
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