As Oil Prices Soar, Congress Yawns

Where's the Congressional Outrage?

As the price of crude oil breaks $100 per barrel, the highest price since 2008, Americans are sure to feel the impact in their pocketbooks, which is why it's all the more strange that not a single member of Congress appears to have called on the Obama administration to either halt stockpiles into the nation's Strategic Petroleum Reserve or to release some of the reserves into the system. There appear to be no calls for a gas tax holiday, either, or any other immediate legislative remedy that has, in the past, been trumpeted in the face of soaring oil prices.

Back in 2008, as prices jumped above the $100 mark, lawmakers of all stripes came together to force the Bush Administration to halt stockpiling into the government reserve, a 1970's era creation after the oil embargo. This time around, so far - radio silence. Crickets. Where's the outrage?

"We can't immediately think of any House or Senate member who is calling for a release of oil from the SPR," said Bill Wicker, spokesman for the Senate Energy Committee. The panel, chaired by Sen. Jeff Bingaman did hold a hearing recently on the energy outlook at which the New Mexico Democrat did note, "Fortunately, it appears unlikely that the political turmoil will result in major disruptions in oil production or transportation. That's my impression, at least at this time. However, I note that whenever geopolitical events remind us of our vulnerability to world oil supply disruptions, it is a spur for us to consider energy policies that help to reduce that vulnerability."


Wicker also told Fox, "In addition to closely and carefully monitoring the situations in Africa/Middle East and in world oil markets, (the committee) is continuing to consider all of its legislative and oversight options."

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