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Just buying enough gas to get to work is cost prohibitive for the hard-working people of Northwest Indiana and some are faced with the difficult decision of whether to fill up their gas tank or buy food for their family. In the greatest country on earth, that should never happen.

Last week, big oil companies announced their first quarter profits for 2008. The numbers were even more shocking than the $3.70 we pay at the pump. BP’s profits of $7.6 billion dollars were 64 percent higher than the same period last year. Shell’s profits of over $9 billion were up 25 percent from a year ago. And Exxon/Mobil’s take of $10.9 billion was the second-biggest U.S. quarterly profit ever. These multinational oil companies are doing everything they can to maximize profit with little or no concern for the financial hardship it causes honest, hard-working people. Companies should make a profit, but these numbers are excessive, callous to consumers, and destructive to the national economy.

Efforts are underway to reign in the price-gouging oil companies. Last year, Congress passed, and the President signed, the Energy Independence and Security Act of 2007. Among many other important provisions, that law grants the Federal Trade Commission (FTC) new authority over the manipulation of wholesale crude oil, gasoline, and petroleum markets. The FTC announced last week that it has begun its rulemaking process that will establish how it will exercise its authority to go after price fixing in the oil industry. The FTC has taken a step in the right direction, but new leadership is required to protect consumers from the price-gouging oil companies.

Right now, I am in the process of drafting my Fiscal Year 2009 Energy and Water Development Appropriations bill, which will be a consumer-friendly measure. Last year, in my FY08 bill, I increased funding for vehicle technologies and biofuels to develop innovative breakthroughs that will improve fuel efficiency and reduce our dependence on expensive foreign oil, respectively. This year, I will renew my commitment to those efforts and also look for new ways to bring down the price at the pump and help drivers get more bang for their buck.

Bringing down gas prices will not happen overnight, but it can be done.

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