Congressman Bob Goodlatte today sent a letter to President Bush, calling on him to reevaluate the U.S. Department of Energy (DOE) policy on filling the Strategic Petroleum Reserve (SPR), to help lower gasoline prices at the pump. 

The SPR is an emergency petroleum store which is maintained by the DOE.  In light of gas prices being at a record high, Goodlatte circulated the letter among his Congressional colleagues, garnering the signatures of 25 other Members of Congress.  A complete list of signers is available at the bottom of the release.

In the letter, Goodlatte urged President Bush to “suspend shipments of oil to the SPR and allow more oil to remain on the market and available to consumers when supplies are tight.”
“Prices at the pump are escalating at an alarming rate,” Goodlatte said.  “I hear from my constituents who are struggling with high gas prices.  Filling the Strategic Petroleum Reserve, without regard to oil prices and the availability of supplies drives oil prices higher and ultimately hurts consumers.”

Goodlatte and the other Members of Congress called on the President and the DOE to revert back to its previous policy of filling the SPR when crude oil prices are relatively low and deferring oil deliveries when prices are relatively high.

In addition, this letter outlines concerns about missed opportunities for saving taxpayers’ money.
“Filling the SPR regardless of oil prices increases taxpayer costs,” Goodlatte continued.

He went on to explain that prior to 2002, DOE granted oil company requests to defer scheduled oil deliveries to the SPR when oil prices were high, in return for deposits of extra oil at a later date. These deferrals save taxpayers money and add extra barrels of oil to the SPR.
 
House Members Signing the Letter Include:
 
Bob Goodlatte (R-VA)
Spencer Bachus (R-AL)
John Boozman (R-AR)
Shelley Moore Capito (R-WV)
Howard Coble (R-NC)
Joe Courtney (D-CT)
Tom Davis (R-VA)
David Davis (R-TN)
Jimmy Duncan (R-TN)
Jo Ann Emerson (R-MO)
Eliot Engel (D- NY)
Phil English (R-PA)
Barney Frank (D-MA)
Randy Forbes (R-VA)
Virgil Goode (R-VA) 
Gene Green (D-TX)
Jack Kingston (R-GA)
Randy Kuhl (R-NY)
Jim Moran (D-VA)
Collin Peterson (D-MN)
Ted Poe (R-TX)
Bill Shuster (R-PA)
Lee Terry (R-NE)
Mark Udall (D-CO)

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