>> gas prices inch higher today, the latest in a series of congressional hearings on surging gas prices . what you're paying at the pump. the national average for regular rose another penny overnight. $3.85. that's four cents higher than a week ago. 29 cents higher than a month ago. 30 cents higher than a year ago. we need a math chart for that. joining me now, the ranking democrat on the house natural resource committee. that committee holds another hearing on rising gas prices tomorrow. sir, thank you for your time. with all due respect, i have to ask you, are all these earrings just about talk or what action is possible at this point? especially we're leading into summer where some states like chicago, illinois, they have this blend that increases the price automatically on what people pay for their summer gas.
>> you put your finger right on it. this is action that we have to take. the oil companies last year exported $100 billion worth of oil that was drilled for here in the united states . we have to stop the oil companies from doing that. the oil companies get $4 billion a year in tacks breaks. we have to stop that. that's one industry that does not need a tax break . the republicans are trying to stop the funning for the commodities futures trading commission. they're ones to crack down on wall street speculation which is at least 50 cents a gallon right now. they're just playing games with the market. the republicans are trying to stop the increase in the fuel efficiency of the vehicles which we drive. they've already passed the boehner-cantor-paul ripe. we have a real problem with the republicans. gop is the gas and oil party. we just have to have an agenda that deals with what is troubling the american consumer at the pump.
>> so obviously you just laid out your case there. can case for the democrats. this is not a secret. i'm not revealing anything to you. that you know the other side of the conversation on this is that this administration is blocking production to the key stone pipeline and other oil production . they believe it could be happening within this country that is blocking the radical environmentalists that some believe control or puppet this administration. what do you say to those people?
>> i say that the romney-boehner-cantor leadership of the republican party , they just don't understand the oil markets. under the obama administration, we're at an eight-year high for oil production in the united states . we have the lowest am of imports in 12 years. we're down to 45% from 57% when george bush left office in terms of the amount of the oil that we're bringing into this country. and meanwhile, the republicans are trying to slash the wind and solar and all electric vehicle budget which is our future. so i'm just afraid that the republicans don't understand the oil markets because of the oil industry which has them in their thrall.
>> someone may watch "news nation" after we're done and fill up at the pump. they'll ask this question. why i am a paying this much for gas? if the production is up, you say the right moves the republicans don't understand. you're telling me the democrats do. why i am a paying so much? i not being me, i don't have a car. but the guy or a woman out there who is filling up right now.
>> it's not obama . it is opec . as you know, opec , the saudis announced under pressure from the obama administration, to begin producing more oil. to put it into the marketplace so that wall street speculators don't continue to tip consumers jump side down. because of the fear of a cut-off from iran as president obama tries to stop iran from getting a nuclear weapon. so because of the administration's pressure, opec is saying they'll produce more oil and we'll see it at the pump.
>> thank you so much for your time. we'll keep an eye on those hearings.
Source: http://video.msnbc.msn.com/newsnation/46798666/
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