FOR IMMEDIATE RELEASEMay 16, 2008

CONTACT:
Kate Bedingfield
603 782 4613 (o)/603 361 8036 (c)/ kbedingfield@jeanneshaheen.org

Caitlin Legacki
603 782 4613 (o)/603 361 9643 (c)/ clegacki@jeanneshaheen.org

Sununu attacks Shaheen, yet votes with the Bush White House to continue status quo energy policy that has resulted in record-high gas and food prices

(Manchester, NH) – Yesterday, John Sununu voted with the Bush White House and against closing the Enron loophole, which allows billion-dollar hedge funds and Wall Street traders to speculate on the cost of oil, artificially driving up the price of gas for New Hampshire drivers and generating bigger profits for the oil companies.  Then he attacked Jeanne Shaheen for being "out-of-touch."

"John Sununu should spend a little less time in touch with the Bush White House and more time listening to the concerns of New Hampshire families," said Kate Bedingfield, communications director for Jeanne Shaheen for Senate.  "What's out-of-touch is a Senator who dutifully supports the Bush-Cheney energy policy that's gotten us where we are today while New Hampshire families are struggling with record-high gas and food prices.  New Hampshire needs a new direction and a Senator who won't be part of the problem in Washington."

As gas prices soar above $3.50 a gallon in New Hampshire, John Sununu was one of just 15 Senators to vote against a bill closing the Enron loophole – a loophole created by Enron lobbyists to allow million and billion-dollar traders to speculate on the cost of oil with almost no oversight. [Senate Vote #130, 5/15/08] 

In March, an Exxon executive testified before Congress that based on the fundamentals of supply and demand, oil should cost about $55 a barrel.  Instead, reckless speculation has helped oil prices spike to over $126 a barrel – and New Hampshire drivers are absorbing that price hike at the pump.The bill also invests $1 billion in developing and promoting biofuels, including cellulosic wood-based ethanol, while limiting subsidies for corn-based ethanol.  Wood-based ethanol would provide an alternative source of energy that does not impact the global food supply and, thanks to the abundant forests in the North Country, would help create jobs right here in New Hampshire.

Over the past months, Shaheen has been traveling around New Hampshire on her Middle Class Matters tour, discussing steps that Washington can take to bring down oil prices and calling on Congress to close the Enron loophole.  For more information, please visit www.jeanneshaheen.org.