Gas prices out of control? Seven ways lawmakers could help – or hurt.

Gas prices are approaching $4 a gallon and oil prices are above $100 a barrel, leading politicians in Washington and statehouses to propose a flurry of legislation. Some proposals strive to quell voter angst while others might balance budgets by raising gas prices.

Opening up the Strategic Petroleum Reserve

Under pressure from Republicans to “do something” about high gas prices, President Obama, backed by Senate Democrats, has floated the idea of selling $500 million worth of federal oil from the Strategic Petroleum Reserve. It's a move economists say would do little to bring down the price of gasoline, though it might get the GOP off his back a bit.

"Where is the president’s plan for rising gas prices? “Monitoring the situation” won’t cut it," wrote Sen. John Barasso (R) of Wyoming in a letter today, chiding the president for "a virtual freeze on American offshore oil and natural gas exploration."

2 of 7

Read Comments

View reader comments | Comment on this story

Loading...

Loading...

Loading...

Save for later

Save
Cancel

Saved ( of items)

This item has been saved to read later from any device.
Access saved items through your user name at the top of the page.

View Saved Items

OK

Failed to save

You reached the limit of 20 saved items.
Please visit following link to manage you saved items.

View Saved Items

OK

Failed to save

You have already saved this item.

View Saved Items

OK