Home > newsroom > Page
Unrest in Libya Could Spread to Other OPEC Members, Lead to Record Prices at the Pump
Obama Administration Continues Blocking American Energy Production

WASHINGTON, D.C., February 22, 2011 -

*Source: Energy Information Administration

Political turmoil in the Middle East, most recently in Egypt and Libya, is putting the United States’ already tenuous energy security on more fragile ground. The recent waves of political uprisings in Northern Africa and the Middle East have sparked concern of lost crude oil production, which in turn could cause U.S. gasoline prices to spike.

The Egyptian controlled Suez Canal and Suez pipeline are responsible for the transportation of nearly four million barrels of oil and petroleum products a day. Libya, an OPEC country, holds the largest proven oil reserves in Africa and accounts for five percent of U.S. oil imports. The disruption of Libyan oil production and further Middle Eastern political strife (Saudi Arabia, Iran, etc.) could dramatically influence the price of fuel. Coupled with the Obama Administration’s de facto moratorium on offshore drilling, American families could see gasoline prices rise above four dollars.

Americans are bracing for rising gasoline prices as a result of Middle East turmoil and the Obama Administration’s anti-energy policies:

###

Printable PDF of this document


Contact: Jill Strait or Spencer Pederson 202-226-9019

Latest News

Bishop: President Ignores Legislative Process in Another Round of Unilateral Monument Designations

Today, President Obama unilaterally designated three new national monuments in the California desert: Sand to Snow National Monument, Mojave Trails National Monument, and Castle Mountains National Mon...... Read more

Investigative Report on EPA’s Gold King Mine Blowout Released by House Committee on Natural Resources Majority Staff

Today, the House Committee on Natural Resources released a Majority staff report detailing information uncovered during the Committee’s ongoing investigation of the EPA’s Gold King Mine blowout near S...... Read more

Bishop: President Obama’s Unilateral Anti-Energy Agenda Will Ultimately be Gutted by the Courts

Yesterday, the Supreme Court stayed the Obama Administration’s Clean Power Plan in a 5-4 decision. Chairman Bishop (R-UT) issued the following statement: “Much of the President’s unilateral agenda, in...... Read more

View All News

Calendar

The President’s Imposition of New Environmental Mitigation Regulations
Subcommittee on Oversight and Investigations | 1334 Longworth House Office Building, Washington, D.C. 20515
The U.S. Department of Treasury's Analysis of the Situation in Puerto Rico
Full Committee | 1324 Longworth House Office Building, Washington, D.C. 20515
View All Events