Published: May 14, 2008 10:04 pm         

24-cent drop in gas prices coming to West Virginia?

American consumers might see a 24-cent drop in gas prices, depending on the fate of a bill clearing Congress Tuesday that calls on President Bush to suspend oil shipments to the Strategic Petroleum Reserve.

Gas prices have evolved into a campaign issue among all three leading contenders, including a call by Sens. John McCain, R-Ariz., and Hillary Clinton, D-N.Y., to temporarily suspend the 18.4-cent federal tax on each gallon.

Sen. Barack Obama, D-Ill., has dismissed that plan as a political gimmick that wouldn’t do much for consumers.

In West Virginia, Transportation Secretary Paul Mattox has ridiculed the McCain-Clinton idea as one that would severely handicap states’ ability to maintain and improve roads because it would prompt a sizable dip in the amount of federal road dollars available.

Last week, former Mississippi Gov. Ray Mabus, traveling in West Virginia to support Obama, told The Register-Herald that suspending the federal tax from Memorial Day through Labor Day would only save the average motorist in America about $28.

Rep. Shelley Moore Capito, R-W.Va., said the House bill would increase the available market supply of oil and lead to an estimated 24-cent reduction at the pumps.

In the Beckley area, however, as Congress took up the issue, gas had climbed to $3.95 per gallon.

Some 70,000 barrels are shipped to the reserve on a daily basis, and word from the White House is that Bush opposes any halt, which also was endorsed by the Senate before the House vote came. There are some 701 million barrels of oil in the reserve, which is near 97 percent of capacity.

“West Virginians are struggling every day with the price of gasoline and Mountain State families are looking for solutions,” Capito said.

“In addition to temporary efforts that may provide some relief, we must invest in a comprehensive energy policy that actually creates new sources of domestic energy.

“From clean coal to natural gas exploration to domestic oil exploration, we must move past the political posturing and invest for the future.”

Another supporter, Rep. Nick Rahall, D-W.Va., said he considers rising gas prices the leading issue confronting his constituents.

“In addition to causing pain at the pump, rising gasoline prices are helping to drive up the price of groceries and cutting into precious vacation time with our families,” the 3rd District congressman said.

“Since the president has failed to do so, the Congress must take action, where possible, to help lower gas prices and provide much-needed relief to hardworking American families.”

Rahall echoed Capito’s sentiments that the relief would only be temporary and steps are needed now to lessen the dependence on foreign oil.

“At a time when crude oil is over $120 a barrel, it makes absolutely no sense for the federal government to continue purchasing massive quantities of oil in order to stick it in a hole in the ground for safekeeping,” he said.

“Suspending shipments to the Strategic Petroleum Reserve is one of the few near-term options available to the government to help reduce the pain Americans are feeling at the pump.”

— E-mail: mannix@register-herald.com