Since 2001, the price of gas has doubled and profits for big oil and gas companies have tripled, while American family income has stagnated.  Gas prices are now causing hardships for over two-thirds of American families while Chevron is recording record profits and Exxon is giving away a $400 million dollar retirement package to their former CEO.  Enough is enough; its time for Congress to act.

That's why I'm working to end the needless tax breaks given to big oil companies in the energy bill passed by Congress last year.  The energy bill, which I vocally opposed, gave oil companies $7 billion in unneeded tax breaks at the expense of the American taxpayer.  Taxpayers should not be subsidizing oil companies at a time of record profits.

I've also called on the Speaker of the House, Dennis Hastert (R-IL), to hold hearings into price gouging and to bring to the House floor legislation I've cosponsored that would provide immediate relief to consumers by giving the Federal Trade Commission the explicit authority to investigate and punish those who artificially inflate the price of oil or gas.  The bill would also dramatically increase penalties for those who price gouge consumers.

While the Leadership in Congress has fought these measures in the past, high fuel costs and political pressures have provided new hope for Congressional action.  I'll continue to work with my colleagues in Congress to protect consumers from price gouging and to make certain that big oil companies are not given a free ride on the back of American taxpayers.