WASHINGTON, DC - Sen. James Inhofe (R-Okla.), Ranking Member of the Environment and Public Works Committee, today voted in favor of the motion to proceed to S. 3268, the Energy Speculation Bill, with the understanding that Senators will be allowed to offer and debate amendments to the bill. Through his leadership position on the EPW Committee, Senator Inhofe has been working with his colleagues to find ways to bring down rising energy costs. Last week, Senator Inhofe introduced the "Drive America on Natural Gas Act" as well as a comprehensive energy proposal, the "American Affordable Fuels Act," to address insufficient refining capacity, increase energy supply, and promote the use of future transportation fuels.

"As American families face skyrocketing gas prices, they are looking to Washington to provide solutions to our nation's energy challenge," Senator Inhofe said. "After months of inaction in Congress, I look forward to the Senate taking up energy legislation that allows for a full and open debate on the best way to address skyrocketing energy prices. I am hopeful that the Senate will debate amendments allowing us to increase American energy production.

"With skyrocketing energy prices, now is not the time for politics as usual -- now is the time for common sense solutions. That's why last week I introduced legislation that allows Americans to take advantage of our abundant domestic supply of natural gas for use as a transportation fuel. To help make Compressed Natural Gas (CNG) a reality, I have introduced legislation, the ‘Drive America on Natural Gas Act,' to encourage the use of natural gas as a transportation fuel and send a signal to auto manufacturers to produce and sell these vehicles domestically. Natural gas is domestic, plentiful, affordable, and clean. The promise of natural gas as a mainstream transportation fuel is achievable today -- not 15 or 20 years from now.

"Additionally, I introduced energy legislation last week that opens America's access to the Outer Continental Shelf, ANWR, and Rocky Mountain Oil Shales and preserves access to Canadian oil sands. This comprehensive bill, which also includes my ‘Drive America on Natural Gas Act' and my previously introduced Gas PRICE Act, increases domestic supply and refining capacity. This bill not only encourages alternatives such as cellulosic biofuels, but also enhances and preserves our nation's production from marginal wells, those that produce 15 barrels a day or less. The American Affordable Fuels Act establishes the framework to address our nation's short, mid, and long-term fuels challenges."