Jeff Bingaman United States Senator from New Mexico

WASHINGTON – U.S. Senator Jeff Bingaman today confirmed he will help lead an energy summit next month when the Senate returns to session.

The Senate has been blocked from considering energy legislation for the past few weeks.  In an effort to find areas of agreement between both parties, Senate Majority Leader Harry Reid asked Senate Minority Leader Mitch McConnell to join him in sponsoring the summit.

Bingaman has expressed frustration about the Senate's lack of progress on the issue of energy.  In the past two weeks, the minority party has blocked consideration of legislation to address speculation in the oil markets, to extend tax incentives to encourage renewable energy, and to authorize spending for the Department of Defense. 

Bingaman released the following statement today about the lack of progress on energy issues:

"The high price of gas and diesel at the pump is a major burden on American families and on the American economy. 

"While all of us would like to find a single solution to the problem, the truth is that we must take action in three areas to achieve any lasting result.

"We must ensure the proper functioning of markets for oil and gas so that prices are not artificially high because of excessive speculation.

"We must find ways to increase the supply of oil and gas, but also other types of energy.

"And we must reduce the demand for fuel.

 "I hope we can enact responsible legislation in each of these areas in the near future. 

"Majority Leader Harry Reid has tried to schedule votes on proposed solutions to high energy prices during the past few weeks, but he has been blocked from doing so.  I hope that all senators will participate in the energy summit next month so that we can find a way to move forward in a bipartisan manner."