THIS IS A PRESS RELEASE FROM THE OFFICE OF UNITED STATES SENATOR JAY ROCKEFELLER.

WASHINGTON, DC – Senator Jay Rockefeller today expressed his deep disappointment that Senate Republicans have stood in the way of lowering gas prices for West Virginians.

This morning, the Republicans blocked an effort to move forward with legislation that would take action against oil speculators who have been manipulating the world oil market and driving up the price for crude oil.

“We absolutely have to go after those speculators and oil companies that are manipulating the oil markets to increase their already record profits. By closing the loopholes that have been long exploited, we will lower gas prices. That’s a fact,” Rockefeller said. “I’m incredibly disappointed that Senate Republicans blocked our attempt at lowering gas prices. They’ve made it clear that they’re more interested in protecting the oil companies and speculators than doing something to help the consumer.”

“I know how hard rising gas prices are on West Virginia families -- not to mention schools, police departments and hospitals. Everyone keeps saying there are no easy solutions. They’re right, and it will take a long time to get out of this situation, but it’s time to stop debating the issue to death and start taking action,” Rockefeller said.

“We need to pursue as many options as possible for solving our energy crisis – clean coal and coal-to-liquids, targeted drilling, bio fuels, hybrid vehicles, conservation measures, higher gas mileage standards, and greater penalties for speculators who are manipulating gas prices for profit,” Rockefeller said.

The legislation that Republicans filibustered this morning would have increased enforcement efforts by adding 100 new “cops on the beat” to the commission that oversees these traders. It also would have required, for the first time, detailed reporting of previously undisclosed trades. Finally, the bill would close the so-called “London Loophole” that allows speculators to inflate oil prices by playing domestic and foreign markets off of each other.

Today’s filibuster on the speculation bill brings the total number of filibusters by Republicans to 85 – the largest number in history. Even though 50 Senators voted to move forward with the legislation, Senate Democrats needed to muster 60 votes to overcome the Republican’s objections.