Pelosi Statement on Today's Record Drop in Oil Prices

WASHINGTON, July 15 /PRNewswire-USNewswire/ -- Speaker Nancy Pelosi
released the following statement this evening on the record drop in oil prices
today -- the largest drop in 17 years:
"Today, the price of oil per barrel dropped $6.44 in one day -- the second
highest one-day drop in history -- when the Federal Reserve Chairman predicted
lower U.S. oil consumption. The biggest drop in history came 17 years ago,
when President George H.W. Bush released oil from the Strategic Petroleum
Reserve in 1991 and the price per barrel dropped 34 percent in one day.
"President Bush tells us that there are no quick fixes -- but history
proves otherwise. President Bush should free our oil by releasing a small
amount of oil from the Strategic Petroleum Reserve, and bring the price down
further. Obstinance does nothing to help Americans struggling with record gas
prices and a host of economic concerns."
SOURCE Office of the Speaker of the House

Brendan Daly or Drew Hammill of Office of the Speaker of the House,
+1-202-226-7616