WASHINGTON – Apollo Alliance president Jerome Ringo today urged the nation to change its course on energy policy and called on President Bush and Congress to address the energy crisis facing Americans this winter as low-income families strain to meet record high costs for home heating. Oil prices are projected to remain well above $50 a barrel for years to come, according to an analysis released today by the Energy Department. The analysis reflected a sharp change from projections a year ago, when the Energy Department predicted oil prices would decline to $31 a barrel by 2025.
The Energy Information Administration report projects oil will cost an average $54 a barrel in 2025 and $57 a barrel in 2030. Crude oil prices have hovered around $60 a barrel this year, soaring as high as $70.
“America is held over an oil barrel. We need to work together to provide new energy to hope and think big again,” said Ringo. “We are calling for a movement for energy independence from foreign energy sources. President Bush and Congress must invest in clean energy technology and new infrastructure that will create new jobs and make our country a leader in innovation again.”
The Apollo Alliance has a 10-step national agenda to create energy independence by the year 2015. The alliance represents a coalition of national security, labor, environmental, civil rights and business leaders who are fighting for energy independence from foreign energy sources.
Ringo joined Senate Minority Leader Harry Reid, D-Nev., Senator Hillary Clinton, D-N.Y., Senator Chuck Schumer, D-N.Y. and Governor Edward Rendell, D-Pa., in New York’s Times Square today to discuss the Apollo plan and the urgent need to take action to achieve energy independence.
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