To: Mr. Pink who wrote (17127 ) 10/2/2002 2:56:47 PM From: StockDung Read Replies (1) | Respond to of 18998 Mr P$nk, Gephardt must read this thread->Gephardt Statement on Western U.S. Market Manipulation WASHINGTON, Oct. 2 /U.S. Newswire/ -- The following statement on energy policy was released today by the Office of House Democratic Leader Richard A. Gephardt: "A year after the electricity crisis in the Western United States, and billions of dollars in price gouging and fraud, it's clear that the Republican energy policy has been exposed for what it is: a Big Oil Protection Plan. State and federal investigators have uncovered a pile of evidence that a cartel of big energy companies manipulated the market, tripling electric bills from Seattle to San Diego, destroying small businesses, and even endangering lives. Just last week, a federal judge ruled that one company, El Paso Corporation, slashed its energy supplies in California and single-handedly drove up prices by $3 billion. We now know it was a manufactured crisis created by manipulation, and powered by greed. "Yet the Republicans have not held a single hearing this year to investigate this scandal. They haven't passed a single law to stop this from ever happening again. They have turned a blind eye toward yet another corporate scandal with the hope that the American people will not see. "And as the Congress continues to work on an energy bill, what are Republicans doing? They seek to pass tax benefits for big oil, gas and coal companies and their electricity proposal would only make the California situation worse. They are thwarting progress on the people's priorities and, by their actions and inactions, impacting lives across America. When we take back the majority, we are going to investigate the electricity scandals and we are going to put laws in place to protect consumers -- period! "More broadly, it's crucial that our energy policies move us toward energy independence and away from dependence on foreign oil. Our nation's future lies in promising new technologies which include solar and wind power, and hybrid and fuel-cell powered cars. I strongly support an Apollo project for energy that fosters new technologies and approaches to the energy challenges facing America. "We need a renewable portfolio standard; that means making it a clear goal to get 10 percent of our electricity from clean, affordable, renewable power by 2020. That's just common sense, unlike the pro-Big Oil policies Republicans keep coming up with to reward their contributors. We need an energy bill that acknowledges the reality of global warming, protects pristine wilderness areas such as the Arctic National Wildlife Refuge and benefits the vast majority of the American people as opposed to the big energy interests that contribute to Republican campaigns."usnewswire.com Contact: Erik Smith or Kori Bernards, 202-225-0100, both of the Office of House Democratic Leader Richard A. Gephardt; Web site: democraticleader.house.gov 10/02 13:49