Washington, D.C. - While gas prices continue to shoot upwards and squeeze family budgets across New Jersey, U.S. Senator Robert Menendez (D-NJ) today reintroduced legislation, the American Oil for American Families Act, that would keep more fuel that is produced in the United States here in the United States, increasing our supply, and putting downward pressure on prices at the pump. In numbers released yesterday by the Energy Information Administration (EIA) it was revealed that the United States was a net exporter of petroleum products such as gasoline and diesel by 1.02 million barrels per day. And in the last month alone gasoline prices have risen by 42 cents per gallon according to AAA.

"Rising gas prices are hurting working class families and the only solution Big Oil has is to drill more," said Menendez. "But as we've seen, drilling more in the U.S. will not do a thing for U.S. prices if we just export that fuel around the world. We deserve to know that oil produced from land belonging to American taxpayers is used to lower prices here at home, not sent to the other side of the world."

In 2011, the U.S. became a net exporter of petroleum products for the first time since 1949. In 2011, the U.S. exported over 300,000 barrels of petroleum product per day, but in 2012 net exports shot up to 1.02 million barrels per day. There are many petroleum products produced in the U.S., but diesel fuel and gasoline were the dominant petroleum products exported and responsible for these net export numbers.

The average price for a gallon of gasoline is $3.78 according to AAA. That's up 42 cents in the last month. Of the oil that the U.S. produces, over 30% is produced from public lands and waters.In December 2012, the U.S. produced 7.03 million barrels of oil per day, a production level that has not happened since December 1992. In 1992, the average price of gasoline in the U.S. was $1.19 per gallon.

Senator Menendez's bill would keep more of the oil produced in the United States here for domestic consumption. His American Oil for American Families Act would ensure that oil or petroleum products that originate within American public lands or waters are not exported as crude or in refined form. That would increase our supply at home, and put downward pressure on prices at the pump. Senator Menendez's legislation will only restrict exports of oil from public lands and waters because this oil is clearly the American people's oil and we should be able to decide how to use it.

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