Congressman Henry Cuellar (TX-28) released the following statement today after the Obama Administration announced that the U.S. and its partners in the International Energy Agency would release a total of 60 million barrels of oil onto the world market to offset the demand of oil. In contributing to the effort, the U.S. will release 30 million barrels of oil from the Strategic Petroleum Reserve:

“In the past few months, the American people have been dealt a serious financial burden because of high gas prices. The Administration’s announcement on the release of 30 million barrels of oil from the Strategic Petroleum Reserve is the right move as the issue of high gas prices affects the daily lives of all. I have been working on a similar legislative effort to reduce the price of gas and help the American people as they face tough economic times.

“Last month, I introduced H.R. 1914, the Gas Price Stabilization Act of 2011, which calls for the sale of 70 million barrels of oil from the Strategic Petroleum Reserve. I urge Congress to take an active role along with the Administration in lowering gas prices and stabilizing oil markets.”