Report Title:

High Gasoline Prices; DBEDT Report

RESOLUTION

WHEREAS, Hawaii is heavily dependent on imported oil due in part to the State's lack of indigenous fossil fuels, relatively high fuel consumption for electric power generation, and lack of economically competitive alternative energy sources; and

WHEREAS, Hawaii's extreme dependence on imported oil can be further attributed to Hawaii's geographic isolation and lack of overland access to energy resources; and

WHEREAS, this dependence renders the State vulnerable and sensitive to market disruptions and declines in energy reserves; and

WHEREAS, the high demand for petroleum has resulted in skyrocketing gasoline prices which, in turn, burdens motorists with additional costs; and

WHEREAS, an analysis of the high gasoline prices and its effect on the overall State economy is necessary to determine how to relieve Hawaii motorists of the oppressive gasoline prices; now, therefore,

BE IT RESOLVED by the Senate of the Twenty-First Legislature of the State of Hawaii, Regular Session of 2001, the House of Representatives concurring, that the Department of Business, Economic Development, and Tourism (Department) is requested to analyze the high gasoline prices and their effect on the State economy; and

BE IT FURTHER RESOLVED that the Department shall submit its report, including its findings and any recommended legislation, to the legislature no later than twenty days before the convening of the Regular Session of 2002; and

BE IT FURTHER RESOLVED that a certified copy of this Concurrent Resolution be transmitted to the Director of Business, Economic Development, and Tourism.