TECUMSEH – State Representative Dudley Spade (D-Tipton) today held a press conference to rally Michigan residents who are fed up with skyrocketing gas prices. He urged people to sign an online petition, launched by Gov. Jennifer M. Granholm, which calls for Congress to back a cap on exorbitant oil company profits.
"Our working families in Lenawee County and throughout Michigan are having a tough time filling their gas tanks because gasoline costs $3 or more per gallon," Spade said. "I'm calling on Congress to change the direction of these soaring gas prices. We need the help of the people. Please, make your voices heard. Our economy depends largely on the auto industry and Michigan is feeling the pain as billion-dollar oil companies rake in record profits."
Spade pointed out that he held the press conference near the Tri County Oil Company in Clinton to emphasize that local gas station owners also are hurting, as well. About 95 percent of gas stations in Michigan are locally owned and operated.
"Gas station owners in Lenawee County and across the state are feeling the economic hit, too, because of the rising gas prices. Enough is enough. Our businesses are hurting, our families are hurting and our economy is hurting. Congress must take a stand against the oil corporations and provide some relief at the pump for Michigan residents."
Spade noted that oil prices have increased 240 percent since January 2001. The average price for unleaded gasoline is 64 cents higher than this time last year. Those increases have come despite Exxon Mobile reporting a $36.1 billion profit, making it one of the most lucrative corporations in the world – larger than the next four companies on the Forbes 500 list combined. Spade also voiced support for the Oil Company Accountability Act, a Congressional bill that would repeal $5 billion in tax breaks for oil companies and give an immediate $500 tax rebate to families to offset high energy costs. Families earning up to $119,950 would be eligible for the one-time tax rebate.
"Congress has the power to investigate this massive profiteering and create laws that will refund excess profits to consumers," Spade said. "I am urging the residents of Lenawee County and throughout Michigan to stand up and fight for lower gas prices by signing this petition."
To sign the online petition, go to www.michigan.gov/lowergasprices.