$100 a Barrel Oil: Sen. Menendez Says Wayward Policy Has Brought Us Here, Breaking Dependence from Oil is the Way Out

$100 a Barrel Oil: Sen. Menendez Says Wayward Policy Has Brought Us Here, Breaking Dependence from Oil is the Way Out

Dubious oil price milestone was hit today

Washington - Today, the price of oil hit $100 a barrel. The impact of the high cost of oil can be found domestically in gas, food and heating prices and internationally in changing and volatile global politics.

U.S. Senator Robert Menendez, a member of both the Senate Energy and Natural Resources Committee and Foreign Relations Committee, today released the following statement:

"This is an ominous way to ring in the New Year. The high cost of oil takes money out of our wallets here at home and it creates dangerous instability in the world. My hope is that the symbolic $100 a barrel milestone will serve as a red alert for action to break the worldwide addiction to oil and change the course of the Bush administration's disastrous foreign policy.

"A foreign policy path that took us to war in Iraq and inflamed tensions in the Middle East together with an insatiable worldwide demand for oil has brought us here. To find our way out, we need to break the addiction, which means better fuel efficiency for our cars, more energy-efficient homes, a focus on mass transit and a strong investment into the development of alternative-energy technology. The solutions include advanced biofuels, like cellulosic ethanol, a government push for auto manufacturers to commercialize plug-in hybrids, the weatherization of homes and an investment in public transportation.

"From the price of milk at the grocery store to the volatility of international relations to the fate of the planet, the ramifications couldn't be bigger. I am proud to have worked on and supported Congressional action to address the energy crisis this year, including a raise in the fuel economy standards. This Congress has passed legislation that will make us a more energy efficient nation, but there is much more we could have done were it not for the resistance of President Bush and Republicans in Congress. We cannot stop working to make ours a greener nation that is less dependent on oil."

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