That Will Make Sky High Gas Prices Even Worse As gas prices continue to “soar nationwide” on President Obama’s watch, House Republicans will vote this week on legislation aimed at stopping new Obama administration rules that could make the pain at the pump even worse. The Energy Consumers Relief Act (H.R. 1582), sponsored by Rep. Bill Cassidy (R-LA), would force the administration to account for the economic impact of major new regulations, and prevent any rules that will have a harmful impact on jobs and the economy – like the proposed Tier 3 gas rule – from being finalized. The price of gasoline today is $3.62 – nearly double what it was the day President Obama took office – and could hit a five-year high this summer. The Obama administration’s Tier 3 rule “will add 6 to 9 cents per gallon” to the price of gas, according to industry analysis, and “cost $2 billion annually beginning in 2017, rising to $3.4 billion annually once fully implemented in 2030,” the Energy & Commerce Committee reports. The Energy Consumers Relief Act will put the brakes on the Tier 3 rule, and several others that will raise costs and hurt jobs. In a [...]
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