Talk Radio News Service: News, Politics, Media

Visible frustration concerning increased oil prices was displayed by Senators at a meeting of the Senate Committee on Small Business and Entrepreneurship. To prepare for the winter, the committee met to discuss the effect of increasing oil prices on the cost of home heating oil.

Senator Olympia Snowe (R-Maine) presented statistics showing the rising cost of home heating oil in Maine. According to Snowe, the price of home heating oil has increased 135 percent in her state while income has only increased 17 percent. Snowe projects that Mainers will have to spend $5,000 to heat their homes with a per capita income of $33,000. Snowe said that many "could freeze to death," adding that many throughout the United States will be unable to afford to heat their homes during the winter months.

Senator John Kerry (D-Mass.) said one can attribute the rising price of home heating oil to the rising cost of crude oil. In reference to the White House, Kerry stated that a stronger administration would be doing more to assist Americans. He also said he finds it shocking that Americans continue to waste energy by using electricity when it is not needed after 30 years of gas shocks and efforts to counteract global warming.

Deputy Assistant Energy Secretary for Petroleum Reserves David Johnson said in his testimony that the price of home heating oil can be lowered by increasing domestic production of oil by drilling on continental shelves and in the Arctic National Wildlife Reserve (ANWR.) Kerry told Johnson that oil from the ANWR would only lower American gas prices two cents per gallon at full production and that the United States only has three percent of global oil reserves. Kerry continued, saying the United States’ oil supply is not large enough to lower international prices and that the rhetoric employed by Johnson and others has “worn short.”