Since January of 2000, Connecticut consumers have faced rising home heating and diesel fuel prices due to a number of factors including reduced production by OPEC nations and increased demand because of a cold snap throughout the Northeast. Senator Lieberman has been our voice in supporting the establishment of a regional oil reserve to make sure that we have more local control over oil supplies in the future. |
WASHINGTON - President Clinton announced today that Connecticut will receive an additional $5.7 million from the Low Income Energy Assistance Program (LIHEAP) to help residents struggling to afford home heating in the wake of the recent oil price spike.
Senators Chris Dodd and Joe Lieberman hailed the President's decision to release the emergency funding but repeated their calls for the Administration to tap the Strategic Petroleum Reserve (SPR) as the most effective way to provide relief to consumers.
"Connecticut families have been hit by wave after wave of price hikes, and this assistance - like a lifeline - couldn't come at a better time," Dodd said. "But this action merely treats the symptoms and not the cause, and I again call upon the president to draw down the Strategic Petroleum Oil Reserve. Only then can we lessen the impact of spiraling prices and limited oil supplies."
"We appreciate this additional aid, but it is not going to solve the underlying problem - bringing down the astronomical prices of heating oil. That is why we have been pushing the President to draw down oil from the Strategic Petroleum Reserve, which would likely have an immediate impact on prices. Today the President signaled he has not ruled out this option, which is good news, and we will continue to press the him to tap the SPR," Lieberman said.
"But we must keep in mind this problem now is bigger than just heating oil. The rapidly rising price of crude oil is already driving up gasoline prices, and there is a real threat of a major run-up at the pumps as the demand for gas increases. Not only would that hit consumers hard, but it could undermine the stability of our economy. That makes it all the more important that we get serious in our conversations with our allies in OPEC and put pressure on them to stop artificially restricting their oil production."
The President today released a total of $125 million in LIHEAP funding, exhausting the $300 million annual emergency allotment under the low-income aid program. Clinton also vowed to ask Congress within 10 days to release an additional $600 million in emergency funds to help families with slightly higher incomes. Connecticut has now received more than $11.8 million in LIHEAP aid over the last several weeks.
|
