Gas Prices: How to Bring Them Down

Today in Edison, Congressman Frank Pallone (NJ-6) touted an "all of the above" approach to American energy production, aimed at protecting consumers from rising gas prices at the pump.

The average price for gasoline is currently $3.58 in New Jersey. That is up seven cents from a week ago, and a year ago, gas prices were $3.19.

"Middle class families in New Jersey and across the country are spending more and more money at the pump because of soaring gas prices," said Pallone. "That's why I am advocating an all-out approach to developing all American energy sources, so we are not held hostage by the ups and downs of the world oil market."

He said the "all of the above" approach includes expanding domestic production, creating more fuel and energy efficiency, and further investment in alternative fuels.

He continued, "The oil companies are making record profits, but we continue to give them, annually, four billion in tax breaks."

He suggested taking that money from big oil, and putting it in the hands of companies in New Jersey and the country who are dedicated to manufacturing alternative fuels.

Pallone made his comments at the EOS Energy Storage Facility. EOS develops low-cost batteries for electric vehicles. Pallone was joined by EOS CEO Michael Oster, Edison Mayor Antonia Ricigliano, Assemblyman Patrick Diegnan (NJ-18) and Cathleen Lewis of AAA New Jersey Automobile Club.