Washington, DC—Senate Majority Leader Harry Reid made the following statement today in response to news that oil prices continue to break records, today reaching $108 for the first time before closing above $107 a barrel:
“While Bush Republicans would rather pursue the same failed policies of yesterday, Democrats are committed to reversing the disastrous trend of skyrocketing oil prices in a sinking economy. That is why our budget includes tax cuts for the middle class instead of for Big Oil, and makes smart investments in clean, renewable energy and energy-efficiency technology that could create hundreds of thousands of green jobs here in America.
“Our budget encourages the development of alternative energy so we can reduce our dependence on oil, helps low-income families and seniors afford the rising costs of heating their homes, and increases funding for programs to improve our energy efficiency. Republicans’ ideas are simply more of the same old, tired ones that have brought us into this situation – the price of oil has nearly quadrupled and the cost of gas at the pump has more than doubled since Bush took office. It is long past time for the President and Bush Republicans to join us in creating an energy policy that strengthens our economy and our national security while protecting our environment, and our budget is a substantial step in that direction.”