Graves Supports Lowering Gas Prices Bill to Benefit Small Firms

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Washington, Jun 26, 2014 | comments
House Small Business Committee Chairman Sam Graves (R-MO) today released the following statement in support of the Lowering Gasoline Prices to Fuel an America that Works Act (H.R. 4899):

“Rising gasoline prices harm small businesses and slow the economy. In fact, small businesses face a ratio of energy costs per sale that is 2.7 times what a large company pays. When costs go up, they have to cut jobs, raise prices or postpone major investments in equipment, and the economy suffers as a result. In contrast, developing America’s own energy resources creates good jobs, strengthens national security and boosts the economy. While much of America’s abundant oil and natural gas supply has remained off limits, the average price of a gallon of gas has roughly doubled under President Obama’s red tape policies. This legislation helps streamline the bureaucratic tangle to reduce the price at the pump and create jobs. Small businesses will benefit from a responsible ‘all-of-the-above’ energy strategy that expands production from America’s vast onshore and offshore oil and natural gas sources.”

“Today’s hearing in the Small Business Committee examines the regulatory roadblocks and refining impediments that limit the benefits of domestic energy production and hold back the job-creating innovations that small energy businesses offer.”

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Tags: Energy