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1171Type of Legislation: Concurrent Resolution CRIntroducing Body: SenateIntroduced Date: 20000222Primary Sponsor: ElliottAll Sponsors: ElliottDrafted Document Number: l:\s-res\de\004gasp.jh.docResiding Body: HouseCurrent Committee: Invitations and Memorial Resolutions Committee 24 HIMRSubject: OPEC oil producing nations, Congress requests to encourage increase in oil production to reduce gas rates; FuelHistory Body Date Action Description Com Leg Involved ______ ________ ______________________________________ _______ ____________ House 20000307 Introduced, referred to Committee 24 HIMR Senate 20000302 Adopted, sent to House Senate 20000302 Recalled from Committee 12 SLCI Senate 20000222 Introduced, referred to Committee 12 SLCI Versions of This Bill
MEMORIALIZING THE PRESIDENT AND CONGRESS TO TAKE APPROPRIATE STEPS TO ENCOURAGE THE OPEC OIL PRODUCING NATIONS TO INCREASE OIL PRODUCTION AND STABILIZE THE NATION'S GAS AND OIL PRICES.
Whereas, the price of gas and oil has reached its highest point in a decade; and
Whereas, these escalating prices have a detrimental impact on the consuming public by creating undue inflationary pressures that, in turn, adversely affect the prime interest rate chartered by the Federal Reserve; and
Whereas, the long- and short-term impacts of these negative market catalysts include, but are not limited to, increased interest rates, decreased housing starts, and an increased cost of living; and
Whereas, the recent increase in gas and oil prices is directly attributable to the four billion barrel per day oil production decrease ordered by the OPEC oil ministers; and
Whereas, the President and Congress are entrusted with power to make decisions to protect the welfare of the people of the United States; and
Whereas, artificially inflated gas and oil prices directly affect the welfare of our citizens; and
Whereas, market indicators do not foretell any foreseeable end to the increase in gas and oil prices; and
Whereas, South Carolina is experiencing and will continue to experience the negative impact of the rising gas and oil prices. Now, therefore,
Be it resolved by the Senate, the House of Representatives concurring:
That the members of the General Assembly do hereby memorialize the Congress of the United States and the Honorable William J. Clinton, President of the United States, to take all reasonable and necessary steps to negotiate with the OPEC oil producing nations through the State Department to increase oil production and stabilize gas and oil prices.
Be it further resolved that a copy of this resolution be forwarded to the Honorable William J. Clinton and the Congress of the United States.
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