Fred Upton says pending bill to block EPA curbs of greenhouse gases will 'stop rising gas prices'
To hear Reps. Fred Upton and Ed Whitfield talk about their new energy bill, you'd think it will prevent gas prices from increasing before your next fill-up.
Upton, the Michigan Republican who chairs the influential Energy and Commerce Committee, and Ed Whitfield, the Kentucky Republican who heads the Energy and Power subcommittee, recently argued in a letter to fellow lawmakers that one way to stop rising gas prices would be to pass the Energy Tax Prevention Act of 2011 (H.R. 910)...
While Upton and Whitfield's letter is carefully worded, it frames the argument for the bill in the context of today’s trend of rising gasoline prices. Yet the impact of the bill -- if there is an one -- would be years away. And there's no proof that the law would actually stop gas prices from rising. The added regulations now being planned may hamper U.S. refiners, but the international free market could just as easily end up keeping refining costs low. And it’s hardly assured that any changes in refining costs -- up or down -- will influence gasoline prices, which are subject to a wide array of influenes. We find their claim False.