JEANNE SHAHEEN VISITS MANCHESTER GAS STATION, DISCUSSES STRUGGLES FACING MIDDLE CLASS FAMILIES DUE TO RISING OIL PRICES

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March 18, 2008

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Kate Bedingfield

603 647 2008

Alex Reese

603 647 2008

JEANNE SHAHEEN VISITS MANCHESTER GAS STATION, DISCUSSES STRUGGLES FACING MIDDLE CLASS FAMILIES DUE TO RISING OIL PRICES

Crude oil hit an all-time record $112 per barrel last week; grocery and gas prices are up

(Manchester, NH) – Former Governor and current US Senate candidate Jeanne Shaheen visited a Manchester gas station today to discuss the challenges middle class New Hampshire families are facing due to rising oil prices. The record-high cost of oil is reverberating throughout the economy, squeezing the middle class: gas prices are up to $3.15 per gallon in New Hampshire, the price of milk is up 26% over last year, and the price of eggs is up 40% over last year.

"Middle class New Hampshire families are facing a tight squeeze as grocery bills, gas bills and heating bills are all soaring," said Gov. Shaheen. "The economic stimulus package was a good start, but Washington needs to do more for our middle class families. We need an energy policy that invests in alternative energy, and we need to cut middle class taxes to help families get through this challenging period."

While New Hampshire's middle class families struggle to pay their bills, oil companies are reaping record profits. Exxon-Mobil gained a record $40.6 billion profit in 2007, the highest profits ever recorded by any company.

Washington must do more for middle class families than offer broken promises and status quo gridlock.  Yet instead of standing up for New Hampshire's middle class families, John Sununu has stood up for big oil, casting the deciding vote against a bill repealing $13 billion in tax breaks for the oil and gas industry that would have reinvested that money into renewable energy (Senate Vote #425, 12/13/07). While New Hampshire families struggle to pay the bills, Sununu is working hard to boost big oil's already record-breaking profits.

This month, Gov. Shaheen has focused on the challenges middle class families face with rising oil prices and a lagging economy. She has visited foreclosed properties in Rochester and Derry to discuss the mortgage crisis, and last week she led a roundtable discussion at UNH on student debt.

In the US Senate, Gov. Shaheen promised to bring Republicans and Democrats together to get things done for New Hampshire's middle class families. Today, she reiterated her committment to investments in renewable energy and tax cuts for the middle class instead of big oil companies.