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JOBS, BRINGING BALANCE TO OUR
FEDERAL BUDGET AND REBUILDING
MANUFACTURING.
I WOULD LIKE TO YIELD TIME TO
MR. KEATING.
I JUST CAME HERE TO
ADVANCE STATEMENTS HERE BY OUR
FELLOW FRESHMAN AND MY NEIGHBOR
FROM RHODE ISLAND, BECAUSE HERE
WE ARE IN VIRTUALLY AN EMPTY
CHAMBER SITTING HERE TALKING
ABOUT JOBS.
BEFORE I CAME A MEMBER OF
CONGRESS JUST A FEW MONTHS AGO,
MY JOB AND I WAS FORTUNATE TO
HAVE ONE, WAS THE JOB OF A
DISTRICT ATTORNEY.
NOW THE RESPONSIBILITIES OF THAT
JOB ARE NOT WELL KNOWN BUT ONE
OF THE RESPONSIBILITIES IN OUR
STATE, WHEN THERE IS A DEATH
THAT OCCURRED IN A HOSPITAL,
IT'S IMPORTANT THAT BE
INVESTIGATED FOR ANY INDICATIONS
OF FOUL PLAY FROM A CRIMINAL
STANDPOINT.
SO AS A RESULT, THE TROOPERS
ATTACHED TO MY UNIT AND MY
PROSECUTORS REVIEWED THE DEATHS
OF PEOPLE.
AND I MUST SAY JUST TO PUT THIS
IN CONTEXT IN A VERY PERSONAL
SENSE TO ME, ONE OF THE MOST
TRAGIC AND HEART-WRENCHING PARTS
OF THAT JOB WAS COMING UPON THE
SCENES OF SUICIDE.
AND IN THE COURSE OF THAT OVER
THE LAST COUPLE OF YEARS, YOU
ACTUALLY SAW SITUATIONS WHERE
PEOPLE DEPRESSED, HOPELESS, TOOK
THEIR OWN LIVES AND THEY LEFT
INDICATIONS THAT I WON'T GET
INTO AS TO THE REASON THEY DID
THAT.
AND SO MANY OF THOSE PEOPLE WERE
OUT OF WORK, CLIN CHRONICICALLY
OUT OF WORK AND THEIR HOMES WERE
FALLING APART AND FAMILIES WERE
FALLING APART AND HOPE HAD BEEN
EXTINGUISHED.
THERE WERE NOTES, INDICATIONS,
WHERE YOU GO BACK AND A FAMILY
AND TALK ABOUT THE PERSON TO
HAPPENED.
MAKE SURE YOU KNEW WHAT
THAT IS THE MOST POWERFUL WAY I
THINK THAT YOU CAN UNDERSTAND
WHY WE ARE HERE IN THIS CONGRESS
TRYING TO PUT PEOPLE BACK TO
WORK.
WE HAVE TO DO EVERYTHING WE CAN
DO IN OUR POWER TO DO THIS, TO
BE OUT OF WORK IS HUMAN MISERY
AND MISERY THAT EXTENDS TO
SPOUSES, SONS AND DAUGHTERS,
CONVERSATIONS WHERE ONE OF THESE
INSTANCES WHERE THE PERSON THAT
TOOK THEIR LIFE WAS TOLD THAT
THEY WOULD NEVER BE ABLE TO
AFFORD THE COLLEGE THEY WERE
.
ACCEPTED TO.
I HOPE WE DON'T CONTINUE TO HAVE
THIS DISCUSSION ABOUT JOBS IN
EMPTY CHAMBERS.
I HOPE IT BECOMES THE FOCAL
POINT OF OPEN SESSION BECAUSE
FRANKLY THERE HASN'T BEEN ENOUGH
THAT HAVE DISCUSSION.
I CAME HERE IMBUED WITH A SENSE
OF CHALLENGE AND RESPONSIBILITY,
THAT I WOULD DO EVERYTHING THAT
I COULD TO TRY AND STOP THIS
HUMAN MISERY FROM OCCURRING IN
FAMILIES AND INDIVIDUALS.
SO I HOPE AS WE GO FORWARD AND
WE LOOK AT MAKE IT IN AMERICA,
WE LOOK AT OTHER PLATFORMS AND
POLICIES, TO TRY AND PUT PEOPLE
BACK TO WORK, WE DON'T FORGET,
THESE AREN'T PEOPLE JUST CALLED
OUR CONSTITUENTS, THESE ARE REAL
PEOPLE.
PEOPLE SUFFERING MORE THAN THEY
EVER SHOULD.
AND SO MY OWN DISTRICT, AS
PEOPLE ARE READY TO GO THROUGH
THE TOURIST SYSTEM AND THE
WEALTHIER PEOPLE COME TO
CELEBRATE THEIR VACATIONS, TO DO
IT IN A REGION WHERE
UNEMPLOYMENT IS AT 16% AND TOO
MANY PEOPLE OUT OF -- ARE OUT OF
WORK, I HOPE AS WE GO FORWARD
THAT AS FRESHMEN WE COME FORWARD
AND REMEMBER WHAT WE SAID IN THE
CAMPAIGN JUST A FEW MONTHS AGO.
FOCUS ON WHAT WE SAID WE WOULD
DO AND I HOPE THAT KIND OF
FRESHMEN ENTHUSIASM IS
CONTAGIOUS AND I HOPE WE'RE
HAVING ROBUST DISCUSSIONS ABOUT
PUTTING PEOPLE BACK TO WORK, NOT
HERE IN AN EMPTY CHAMBER, BUT IN
A FULL CHAMBER WITH IDEAS
TEAMING SO THAT WE CAN
ACCOMPLISH THAT VERY IMPORTANT
MISSION AND WITH THAT I YIELD
BACK MY TIME.
I THANK THE
DISTINGUISHED GENTLEMAN AND MY
GOOD FRIEND FROM MASSACHUSETTS
AND THINK IT'S A REALLY
IMPORTANT POINT THAT HE MAKES
TONIGHT.
WE TALK ABOUT THE URGENCY OF JOB
CREATION AND ABOUT THE ENORMITY
OF THE CHALLENGE FACING -- OR
CHALLENGES FACING OUR COUNTRY.
BUT BEHIND ALL OF THESE NUMBERS
AND THE UNEMPLOYMENT RATE AND
THESE STATISTICS ARE REAL
FAMILIES AND REAL PEOPLE WHO WE
SEE EVERY SICKLE -- SINGLE DAY
IN OUR DISTRICTS ALL ACROSS THIS
COUNTRY WHO ARE ANGUISHED AND
WORRIED AND I THINK MORE THAN --
PEOPLE OFTEN DESCRIBE, THE
AMERICAN PEOPLE ARE ANGRY.
I DON'T SEE ANGER, I SEE THE
AMERICAN PEOPLE AS ANXIETY.
PEOPLE ARE WORRIED ABOUT WITH
THE FUTURE.
THEY'RE WORRIED ABOUT WHETHER OR
NOT THIS ECONOMY IS EVER GOING
TO GET ON THE RIGHT TRACK,
WHETHER OR NOT WE'RE REALLY
GOING TO BE SUCCESSFUL IN
GROWING JOBS AND GETTING PEOPLE
BACK TO WORK AND THEY LOOK AT
THE PROCEEDINGS OF THIS CONGRESS
AND THEY SAY, WHERE IS THE
CONVERSATION ABOUT CREATING
JOBS?
WHERE IS THE EMPHASIS ON PUTTING
AMERICANS BACK TO WORK AND THEY
GROW MORE ANXIOUS AND SO I THANK
THE GENTLEMAN FROM MASSACHUSETTS
FOR REMINDING ALL OF US THAT
WE'RE HERE FIGHTING FOR REAL
PEOPLE WHO ARE COUNTING ON US TO
DO THE RIGHT THING, TO GET THEM
BACK TO WORK, TO GET THIS
ECONOMY BACK ON TRACK AND TO PUT
OUR COUNTRY'S FISCAL HOUSE IN
ORDER.
THESE ARE BIG CHALLENGES BUT
THEY'RE CHALLENGES WE HAVE TO
MEET AND I'LL END BY AGAIN
REMINDING EVERYONE THAT THIS
AGENDA, AND I WANT TO REALLY
ACKNOWLEDGE THE LEADERSHIP OF
OUR MINORITY WHIP, STENY HOYER,
WHO REALLY HAS LED THE CHARGE ON
MAKE IT IN AMERICA, AND THE
LEGISLATION THAT'S CONTAINED IN
THAT AGENDA, SPECIFIC BILLS
WHICH I HOPE WILL EARN
BIPARTISAN SUPPORT THAT REALLY
GET AT THIS ISSUE OF HOW WE GROW
THE MANUFACTURING BASE IN THIS
COUNTRY WHICH PROVIDED SUCH
STRONG SUPPORT TO THE MIDDLE
CLASS AND A REAL OPPORTUNITY TO
FULFILL THE AMERICAN DREAM AND
TO ENSURE THAT AMERICA CAN
COMPETE INTERNATIONALLY AND SELL
OUR GOODS ALL OVER THE WORLD AND
SO I HOPE WE CAN COME TOGETHER
IN THIS CONGRESS AND WORK
QUICKLY TO PASS THE LEGISLATION
THAT IS PART OF THE MAKE IT IN
AMERICA AGENDA SO WE CAN MAKE
IT.
SURE AMERICAN FAMILIES CAN MAKE
AND WITH THAT I YIELD BACK THE
BALANCE OF MY TIME.
UNDER
THE SPEAKER'S ANNOUNCED POLICY
OF JANUARY 5, 2011, THE
GENTLEMAN FROM TEXAS, MR.
CARTER, IS RECOGNIZED FOR 60
MINUTES AS THE DESIGNEE OF THE
MAJORITY LEADER.
THANK YOU, MR.
SPEAKER.
THANK YOU, MR.
SPEAKER.
I HAD TO GET MY BOARDS SET UP
HERE.
WITH ALL THE ISSUES THAT WE DEAL
WITH HERE IN CONGRESS THE
AMERICAN PEOPLE DEAL WITH OTHER
ISSUES AT HOME.
SOME OF THOSE ISSUES ARE
CONNECTED AND SOME OF THOSE
ISSUES THEY DON'T SEE THE
CONNECTION.
BUT THEY DO WONDER ABOUT
SOMETHING.
THEY WONDER ABOUT THE FACT THAT
GAS PRICES IN SOME PLACES IN
THIS COUNTRY IN 2009, JANUARY OF
2009, THE PRESIDENT CAME INTO
OFFICE, UNLEADED $132 A GALLON,
$1.52.
MIDRANGE, $1.42, SUPER RANGE,
GAS PRICES IN APRIL OF 2011 OVER
HERE, SOMEWHERE IN THIS COUNTRY
IT LOOKS LIKE IT COULD BE TEXAS
BECAUSE WE'RE ABOUT RIGHT THERE,
$3.99 FOR A REGULAR, $4.OT FOR
MIDRANGE, $4.19 FOR THE SUPER,
THE ETHYL, THEY USED TO SAY IN
THE OLD DAYS.
SO SINCE WE HAVE -- THE
PRESIDENT HAS TAKEN OFFICE,
SOMETHING THAT AFFECTS EVERY
LIFE IN THIS COUNTRY, THE PRICE
OF GASOLINE.
WHETHER WE LIKE IT OR NOT,
WHETHER WE COME UP WITH
ALTERNATIVE ENERGY SOURCES OR
NOT, WHETHER WE HAVE NEW IDEAS
ABOUT HIGH SPEED TRAINS,
SUBWAYS, ELEVATED RAILWAYS,
BUSES, THE MAJORITY OF THE
PEOPLE IN THE UNITED STATES MOVE
AROUND IN THE AUTOMOBILE AND THE
MAJORITY OF THOSE AUTOMOBILES
ARE DRIVEN USING ONE OF TWO
FUELS, EITHER GASOLINE OR
DIESEL.
NEITHER ONE OF THESE CHARTS SHOW
A DIESEL PRICE BUT AMAZINGLY
ENOUGH BACK WHEN I WAS A
YOUNGSTER DIESEL WAS THE
CHEAPEST FUEL WE HAD AVAILABLE.
BUT DIESEL PRICES ARE NO LONGER
CHEAP.
THESE -- DIESEL PRICES ARE
COMPETITIVE, USUALLY AROUND THE
MIDRANGE PRICE OF GASOLINE.
BUT THERE ARE PEOPLE WHO HAVE
GOOD REASONS TO DRIVE DIESEL
VEHICLES AND SO WHETHER WE LIKE
IT OR NOT, WHETHER IT'S -- IT
FITS OUR CONGRESSIONAL
LEGISLATIVE PROGRAM OR NOT TO
HAVE GASOLINE AND DIESEL BEING
THE FUEL THAT MOVES PEOPLE
AROUND THIS COUNTRY, IT'S A
FACT.
AND YOU MAY THINK OTHERWISE ALL
YOU WISH, BUT IT'S A FACT.
THERE'S NO WIND CARS WHERE YOU
HOOK A SAIL UP AND HOPE THAT THE
WIND'S BLOWING TOWARD
WASHINGTON, D.C.
SO EVERYBODY CAN GET TO WORK,
IT'S NOT HAPPENING.
SO EVERYBODY GETS UP AND
EVERYBODY GOES OUT AND MOST
EVERYBODY, UNLESS THEY HAVE ONE
OF THE BRAND NEW ELECTRIC CARS,
START THEIR VEHICLE WITH
GASOLINE OR MAYBE DIESEL.
AND THEY GO TO WORK.
OR THEY GO ON VACATION OR THEY
TRAVEL TO SEE THEIR RELATIVES.
OR WHATEVER THE PURPOSE OF THEIR
TRIP.
SO LET'S BE FRANK.
UNTIL WE COME UP WITH
ALTERNATIVE SOURCES THAT MOVE
PEOPLE FROM POINT A TO POINT B
IN THE UNITED STATES OF AMERICA
WE ARE BOUND TO GASOLINE.
AND DIESEL.
AND IN THE THREE YEARS TRACK
RECORD OF THIS ADMINISTRATION WE
HAVE SEEN THE HIGHEST GAS PRICE
S, I UNDERSTAND IT'S REPORTED
THE HIGHEST GASOLINE, WE SAY
GAS, WE MEAN GASOLINE, GASOLINE
PRICES IN THE HISTORY OF THE
COUNTRY.
EVEN HIGHER THAN THE FAMOUS
JIMMY CARTER DAYS WHEN JIMMY
CARTER HAD US WAITING IN LONG,
LONG RATION LINES AND PAYING
EXTREMELY HIGH GASOLINE PRICES.
AT $4 A GALLON I THINK WE'VE
TOPPED EVEN THE NUMBERS THAT
CAME UNDER PRESIDENT CARTER.
ALMOST TWO DECADES AGO.
SO HERE WE ARE, WE'VE GONE FULL
CIRCLE IN A DEMOCRAT PRESIDENCY
AND HERE WE ARE BACK WITH THE
ISSUE OF GAS PRICES.
NOW, WHY ARE GAS PRICES SO
IMPORTANT TO PEOPLE?
BECAUSE IT'S HOW WE GET WHERE
WE'RE GOING TO GET.
IF YOU TAKE YOUR KID TO THE
SOCCER GAME OR THE BASEBALL
PRACTICE OR FOOTBALL PRACTICE OR
LACROSSE UP HERE IN THE EAST OR
TRACK AND FIELD OR WHATEVER YOUR
YOUNG PEOPLE ARE DOING, YOU GOT
TO GET THEM THERE AND MOST
INSTANCES THEY CAN'T WALK AND
THEY CAN'T RIDE A BIKE, THEY
HAVE TO GO IN AN AUTOMOBILE.
AND FROM GAME TO GAME THEY GO IN
AUTOMOBILES AND WHEN YOU GO TO
TAKE THEIR TESTS FOR ENTRY INTO
COLLEGE THEY HAVE TO GO TO AN
INDEPENDENT LOCATION AND MANY
TIMES THEY TRAVEL THERE BY
AUTOMOBILE.
YOU HAVE TO PICK UP THE LAUNDRY,
YOU HAVE PICK UP THE GROCERIES,
YOU HAVE TO DO A MILLION THINGS,
GET THE KIDS TO SCHOOL ON TIME,
GET THE KIDS HOME FROM SCHOOL,
TAKE THE WIFE OUT ON A DATE,
UNMARRIED PEOPLE ARE DATING AND
THAT'S PART OF THEIR DATE COSTS
AND AT A TIME WHEN WE ARE -- WE
HAVE SOME OF THE HIGHEST
UNEMPLOYMENT IN MODERN TIMES,
WE'VE BUMPED BACK ABOVE 9% I
UNDERSTAND NOW, SO THERE'S A LOT
OF PEOPLE OUT OF WORK, THOSE
PEOPLE OUT OF WORK, SOME OF THEM
ARE DRAWING UNEMPLOYMENT AND
SOME OF THEM ARE JUST TRYING TO
FIGURE OUT A WAY TO MAKE DO
UNTIL THEY CAN FIND ANOTHER JOB.
AND TO HAVE A ROUGHLY $3
INCREASE PER GALLON IN THE COST
OF THEIR FUEL TO MOVE THEM
AROUND THE COUNTRY, PEOPLE FEEL
THAT IMMEDIATELY.
IT'S LITERALLY STICKER SHOCK TO
GO IN AND START FILLING UP YOUR
TANK AND I HAVE A FAIRLY SMALL
TANK IN MY CAR, MY WIFE'S GOT A
LITTLE LARGE TANK, HERS IS MORE
OF A STICKER SHOCK, BUT -- AND
DRIVE A HYBRID.
SO I'M GETTING SOME PRETTY GOOD
GAS MILEAGE.
BUT STILL, TO WATCH THAT THING
GO UP TO $54 TO FILL UP MY TANK,
WATCH MY WIFE'S GO UP TO $65,
$70 TO DRIVE, I'VE GOT A
DAUGHTER WHO'S WORKING PART TIME
AND GOING TO COLLEGE, SOMETIMES
SHE HAS TOLY GO FOR TESTING TO A
TOWN, IN FACT, SHE WENT FOR
TESTING TO A TOWN WHICH IS ABOUT
40 MILES FROM WHERE WE LIVE.
TO TAKE THE TEST.
AND IT'S A FULL TANK OF GASOLINE
UP THERE AND BACK FOR HER IN THE
LITTLE CAR SHE DRIVES OR ALMOST.
AND SHE WORKS HARD TO PAY FOR --
ALL KAY DAY, SHE WORK ALL DAY
AND MAYBE TWO DAYS AT HER JOB TO
PAY FOR A TANK OF GASOLINE.
SO IT IMMEDIATELY AFFECTS YOUR
BUDGET.
BUT IT'S NOT JUST THE COST OF
THIS FUEL TO THE INDIVIDUAL,
IT'S THE FACT THAT IT'S KILLING
THE RECOVERY IN THIS COUNTRY.
THIS NEW INCREASE IN GASOLINE.
-- GASOLINE COSTS AND FUEL
COSTS.
NOW, AS WE MOVE GOODS FROM ONE
PLACE TO THE OTHER, IN TEXAS WE
ARE BLESSED TO HAVE THE RIO
GRANDE VALLEY WHERE WE PRODUCE
WONDERFUL FRUITS AND VEGETABLES.
AND WHERE WE CAN FEED AROUND THE
COUNTRY WITH OUR FOOD AND
VEGETABLE CROP BUT WITH THE
PRICES OF THOSE THINGS ARE GOING
UP AND THEY'RE GOING UP VERY
QUICKLY.
YOU KNOW, ALL OF A SUDDEN YOU'RE
SEEING TOMATOES ARE $2.50 A
POUND.
NOW YOU SAY, HOW DO YOU KNOW
THIS?
ONE OF THE GREAT QUESTIONS THEY
LIKE TO ASK A CONGRESSMAN IS
WHAT IS THE PRICE OF BREADY YOUR
TOWN?
WHAT'S THE PRIZE OF THIS AND
THAT?
BECAUSE THEY FIGURE WE DON'T
KNOW.
WELL WITH, I CAN ASSURE YOU MY
HAVE SHOPPED FOR OUR FAMILY IN
WIFE WILL BACK ME UP ON THIS, I
THE GROCERY STORE SINCE THE DAY
I GOT MARRIED.
AND I CONTINUE TO DO SO BECAUSE
WE LIVE AWAY FROM TOWN AND
USUALLY I WOULD BE LEAVING MY
WORK IN TOWN, IT WAS EASIER FOR
ME TO GRAB THE GROCERIES THAN
FOR MY WIFE TO DRIVE EIGHT OR 10
MILES TO WHERE WE LIVE OUT IN
THE COUNTRY INTO TOWN.
SO I CAN HONESTLY SAY I WATCHED
AVE CADOWS GO FROM $1 APIECE TO
$2 APIECE IN TWO DAYS.
IN ROUND ROCK, TEXAS.
AT ONE OF THE BETTER STORES
WHERE THE PRICES ARE KEPT LOW,
WHERE WE REGULARLY SHOP.
YOU HAVE TO THINK ABOUT IT, I'M
FORTUNATE ENOUGH TO HAVE A JOB,
BUT THERE ARE PEOPLE WHO DON'T
AND I'M NOT SAYING AVACADOES MAY
BE A LUXURY TO SOME PEOPLE BUT
THAT'S JUST A LUXURY THAT I
NOTICED BECAUSE IT SHOCKED ME TO
SEE THEM DOUBLE IN PRICE IN A
48-HOUR PERIOD.
AND SO I THOUGHT ABOUT IT.
BUT THAT'S NOT ALL.
I MEAN, THE PRICE OF EVERYTHING
IS GOING UP.
NOW WHY IS THAT?
TRANSPORTATION COSTS.
WE MOVE OUR PRODUCTS TO MARKET
AND WE MOVE OUR PRODUCTS TO
WHOLESALERS, RETAILERS AND IT
ALL TAKES TRANSPORTATION AND
THAT TRANSPORTATION IS NOW
ALMOST TROUBLED BECAUSE IN A
VERY SHORT PERIOD OF TIME AND
PEOPLE SAY WHY?
WE HEAR FROM OUR DEMOCRAT
COLLEAGUES HERE IN THE CONGRESS,
THE WHY IS THE EVIL OIL
COMPANIES, THE EVIL MAJOR OIL
COMPANIES AND THEY NAME NAMES,
EXXON MOBIL, CONOCO PHILLIPS,
CHEVRON AND I'M NOT GOING TO USE
ALL THE NAMES, THERE'S BUNCHES
OF THEM, BUT THEY GET USED
EVERYDAY IN THIS CONGRESS, THEY
ARE MAKING HORRENDOUS PROFITS
AND THEY'RE THE CAUSE OF
GASOLINE GOING UP.
. BUT THE PRICE OF OIL IS
GOING UP AND THAT'S WHY PRICES
GO UP.
THE THING IS, WE DON'T KNOW --
WE ALL SPECULATE TO SOME EXTENT,
BUT I THINK IT'S PRETTY EASY
COMMON SENSE POSITION TO TAKE
THAT THE MORE SUPPLY WE HAVE
WITH THE DEMAND, WE ARE THE
DEMAND CAPITAL OF THE WORLD ON
BURNING GASOLINE AND DIESEL.
WE OUTSHINE ANYBODY ELSE ON THE
FACE OF THIS GLOBE IN THE USE OF
THOSE PROTECTS.
AND WE HAVE RELATIVELY CHEAP
PRICES AS COMPARED TO OTHER
COUNTRIES, ESPECIALLY THOSE
COUNTRIES WHO HAVE NO
PRODUCTION, THEY CAN GET VERY
EXPENSIVE VERY QUICKLY.
THERE WAS NO OIL OR GAS OR OIL
TO AMOUNT TO ANYTHING AND WE NOW
CALL WESTERN YUPE.
TODAY THERE IS.
THEY FOUND IT OFFSHORE AND FOUND
IT ON THE LAND IN HOLLAND,
NORWAY AND OTHER PLACES.
NORWAY IS ONE OF THOSE PLACES,
SOMETHING LIKE THE THIRD BIGGEST
PRODUCER OF OIL AND OFFSHORE OIL
IN THE WORLD NOW.
THEY ARE DOING EXTREMELY WELL
AND RUNNING THEIR ECONOMY IN A
FRUGAL MANNER, VERY SMART
PEOPLE.
AND THEY SHOULD BE COMMENDED.
I HAPPENED TO GO TO NORWAY WITH
CHAIRMAN OBEY ON A COMMITTEE
WITH THE OPENINGS APPROPRIATIONS
COMMITTEE WHEN THE DEMOCRATS
WERE IN CONTROL AND WE SAW THE
OFFSHORE PRODUCTION IN NORWAY
AND DOING A GOOD JOB.
THE PRICES FOR GASOLINE ARE
THREE TIMES AS IN EUROPE AND
OTHER PLACES, EVEN MORE.
BUT IT MAKES SENSE THAT THE LAW
OF SUPPLY AND DEMAND ALWAYS
WORKS.
IT'S KIND OF LIKE GRAVITY.
THE LAW OF GRAVITY, IF YOU DROP
SOMETHING, IT'S GOING DOWN.
THE LAW OF SUPPLY AND DEMAND HAS
BEEN PROVEN OVER AND OVER AND
OVER IS WHAT DRIVES THE MARKET
FOR ANYTHING.
AND SO, IF WE HAVE THE
OPPORTUNITY TO INCREASE OUR
SUPPLY IN THIS COUNTRY, THEN --
AND WE HAVE THE DEMAND, WHY
WOULDN'T THAT HAVE AN EFFECT ON
OUR PRICE?
I THINK THAT'S A REASONABLE
THING TO TALK ABOUT.
THE OBAMA ADMINISTRATION HAS, I
WOULD SAY, A DISMAL RECORD IN
ASSISTING US IN FINDING OIL AND
GAS.
WE ARE FAMILIAR WITH THE FACT
THAT WE HAD A BAD OIL LEAK IN
THE GULF AND NOBODY IS IN ANY
WAY SAYING THAT THAT WAS GOOD.
IN FACT, THAT WAS A TERRIBLE,
TERRIBLE THING TO OUR
ENVIRONMENT, A TERRIBLE THING --
HURT THE COUNTRY, ESPECIALLY
SOME OF THE SOUTHERN STATES THAT
BORDER ON THE GULF OF MEXICO AND
MESSED UP SOME BEACHES AND
PROBABLY HAD SOME EFFECT ON THE
WILDLIFE AND SEA LIFE IN THE
OCEAN.
WE WILL BE LEARNING IN THE
FUTURE JUST HOW MUCH.
AS A RESULT OF THAT, WE PUT A
MORATORIUM ON DRILLING IN THE
GULF OF MEXICO.
I HAD A MAP SHOWING WHAT THE
PRODUCTION WAS, BUT OIL AND GAS
IS FOUND IN THE GULF OF MEXICO,
ESPECIALLY OIL, BUT SOME EXTENT,
NATURAL GAS, IN SOME ABUNDANCE
IN DEEP WATER.
DEEP WATER DRILLING IS VERY
EXPENSIVE.
IT IS BILLION DOLLARS WITH A B,
PIECE OF EQUIPMENT AND COST OF
DRILLING THOSE WELLS IS
EXPENSIVE.
BUT THEY ARE EXPENSIVE AND THE
BP WELL THAT BLEW OUT, IT WAS
BLOWING OUT A PHENOMENAL AMOUNT
OF OIL AND IF THAT PRODUCTION
HAD BEEN PUT INTO PLAY, IT WOULD
HAVE HAD AN EFFECT ON THE
AVAILABILITY OF OIL IN THE
UNITED STATES, JUST THAT ONE
WELL, WOULD HAVE HAD AN EFFECT.
BUT PUT A MORATORIUM ON THAT.
AND THE PRODUCTION FROM THE
DECREASE IN OIL PRODUCTION FROM
THIS DECREASED THE AMOUNT OF
PRODUCTION BY 360,000 OF
DOMESTIC BARRELS OF OIL PER DAY.
THE OBAMA ADMINISTRATION HAS
LEASED THE LEAST SINCE PRESIDENT
REAGAN.
IN 2009, THE ADMINISTRATION
INDEFINITELY DELAYED LEASES FOR
OIL SHALE IN THE WEST, WHICH
KEPT THESE RESOURCES OFF LIMITS,
OVER 2 TRILLION ARE SITTING IDLE
DUE TO THESE DELAYS.
THEY HAVE KEPT NEW OFFSHORE OIL
EXPLORATION OFF LIMITS UNTIL
2017, OVER 80 BILLION BARRELS OF
OIL IN THE ATLANTIC, PACIFIC,
ALASKA AND GULF OF MEXICO.
THE PIPELINE IN THE GULF OF
MEXICO IS RUNNING AT LESS THAN
ONE-THIRD CAPACITY BECAUSE
COMPANIES CAN'T GET PERMITS TO
PRODUCE OIL.
THE ADMINISTRATION HAS
ESSENTIALLY SHUT DOWN PRODUCTION
IN THE STATE WHICH WITHHOLDING
THE NECESSARY PERMITS.
KEYSTONE XL PIPELINE WHICH COULD
BRING 1.5 MILLION BARRELS OF OIL
PER DAY IS BEING PREVENTED BY
THE STATE DEPARTMENT.
AMERICA IS THE THIRD LARGEST
OIL-PRODUCING NATION IN THE
WORLD.
THE ABOVE ACTIONS ARE A CLEAR
SIGN TO THE WORLD THAT WE ARE
CLOSED FOR BUSINESS.
IF WE ARE CLOSED FOR BUSINESS
AND WE ARE NUMBER THREE, THEN
HOW MUCH MORE VALUABLE DOES THAT
MAKE THE PRODUCT AT NUMBER TWO
AND NUMBER ONE AND THOSE BEHIND
US ARE PRODUCING, THEREFORE,
DRIVING UP THE COST OF OUR
PRODUCT UNLESS YOU HAVE THE
MARKET, THE HIGHER THE COSTS IF
THERE IS A DEMAND AND CLEARLY A
DEMAND WORLDWIDE.
IN FACT, ONE OF THE THINGS YOU
ARE SEEING ON THE PRICE OF OIL
IS THE FACT THAT WE NOW -- AT
ONE TIME, WE WERE THE BIGGEST
MARKET BY FAR.
THE EUROPEANS REALLY DIDN'T COME
CLOSE TO BEING THE MARKET FOR
OIL AND GAS THAT THE UNITED
STATES IS.
BUT TODAY, THESE BOOMING NEW
UPCOMING ECONOMIES, CHINA, THE
FASTEST GROWING ECONOMY IN THE
WORLD RIGHT NOW, YOU THINK THEY
CAN HAVE THAT FAST GROWING
ECONOMY WITHOUT ENERGY?
OF COURSE NOT.
ENERGY IS THE DRIVING FORCE BY
MANUFACTURING.
DRIVING FORCE BEHIND DEVELOPMENT
OF A NATION.
THOSE FOLKS NEED TO GET WHERE
THEY NEED TO GO JUST LIKE
EVERYBODY ELSE DOES.
AND THEY HAVE MANY OF THE
INNOVATIVE THINGS THAT AMERICA
IS STARTING TO TALK ABOUT TODAY.
THE CHAIRMAN OF THE
TRANSPORTATION -- SECRETARY OF
TRANSPORTATION HAS JUST LET OUT
A BUNCH OF MONEY TO BUILD
HIGH-SPEED RAIL.
CHINA HAS THE HIGHEST SPEED RAIL
IN THE WORLD.
AN HOUR.
THEY HAVE SPEEDS UP TO 250 MILES
THAT.
WE AREN'T GOING TO COME CLOSE TO
THEY ARE STILL THE BIGGEST
COMPETITOR OF TRYING TO MAKE
FORWARD PURCHASES AND TRYING TO
BUY FUTURE PURCHASES SO THEY CAN
ASSURE THEY HAVE THE FIELD THEY
DEMANDS.
NEED IN THE FUTURE TO MEET THEIR
WE HAVE A PRODUCT THAT WE SELL
FOR THAT, THEY ARE CALLED
FUTURES ON THE EXCHANGE AND
BUYING OIL TO BE DELIVERED AT A
LATER TIME AT A SET PRICE.
AND WHEN FUTURES COME IN DEMAND
AND FUTURES ARE LOOKSD AT BY
COUNTRIES TO MAKE THIS PURCHASE
TO RUN YOUR INDUSTRY, THEN IT
DRIVES UP THE COST IN THE
MARKET.
THE MARKET GOES UP.
SOMETHING IS IN DEMAND AND THE
MARKET NEEDS IT NOT ONLY TODAY
BUT SEES A PROJECTION TO NEED IT
IN SIX MONTHS, A YEAR, FIVE
YEARS AND 10 YEARS AND WILLING
TO PAY FOR THE RIGHT TO PURCHASE
AT A CERTAIN PRICE.
THE PRICES GO UP.
THAT'S THE MARKET.
SO I THINK WE FIRST OFF, WE
AREN'T GOING TO GET ANYWHERE
UNLESS WE HAVE AN ENERGY PLAN
THAT IS ABOUT ALL ENERGY IN THE
UNITED STATES.
AND I WOULD ARGUE THAT WITH THE
USE OF THE REGULATIONS AND THE
FAILURE TO LEASE AND THE FAILURE
TO LIFT MORATORIUMS AND AFTER
YOU LIFT MORATORIUMS, FAILURE TO
GIVE DRILLING PERMITS, ALL THE
THINGS THAT THIS ADMINISTRATION
HAS DONE, IT HAS BEEN AN
ANTI-OIL AND GAS INDUSTRY AND
I'M SURE COAL ALSO,
ANTI-HYDROCARBON ADMINISTRATION.
THEY DON'T DENY THAT AT ALL.
THEY ARE ANTI-HYDROCARBONS AND
DON'T LIKE OIL, COAL AND GAS AND
OPPOSED TO THEM AND DOING IT
THROUGH REGULATIONS AND FAILURE
TO DO THE NECESSARY LEASING,
THEY ARE KEEPING CLOSED NATURAL
RESOURCES THAT ARE AVAILABLE TO
AMERICANS.
AND, HEY, LET'S GET THIS
STRAIGHT.
BEFORE THE MIDDLE EAST, BEFORE
THE -- RUSSIA AND SOVIET UNION,
PRIOR TO THAT, BEFORE OFFSHORE
NORWAY, BEFORE JO SHORE HOLE
ARNED AND THE NORTH SEA.
BEFORE INDONESIA, ALL THESE
PLACES WHERE WE NOW PRODUCE OIL
AND GAS, WE STARTED BY PRODUCING
OIL IN PENNSYLVANIA.
WE LATER MADE A HUGE OIL FIND IN
TEXAS AND TEXAS IS DEFINED BY
OIL AND GAS BY MANY.
AND WE ARE THE PIONEERS OF OIL
AND GAS IN THE WORLD.
THE UNITED STATES OF AMERICA.
ALL THE IMPROVEMENTS IN DRILLING
PROCEDURES AND CLOSING DOWN
WELLS IN SAVING OIL WITHOUT
BLOWOUTS AND IN FIGHTING OIL
FIRES, IN ANY CATEGORY YOU CAN
COME UP WITH TO DEAL WITH OIL
AND GAS, THE UNITED STATES OF
AMERICA HAS LED AS IT USUALLY
LEADS IN ALL THINGS, BUT HAS LED
IN THE OIL AND GAS INDUSTRY.
WE ARE THE EXPERTS.
IN FACT, WHEN WE WENT TO NORWAY
AND ASKED THEM WHAT THEY WOULD
DO IF THEY HAD A BLOWOUT LIKE
BRITISH PETROLEUM, THEY SAID WE
WOULD CALL THE EXPERTS, THE
PEOPLE IN THE UNITED STATES, THE
COMPANIES DRILLING THE WELLS,
THEY ARE THE EXPERTS, NOT US.
THEN WHY ALL OF A SUDDEN IN THIS
ADMINISTRATION HAVE WE DECIDED
THAT A MAJOR INDUSTRY IN THIS
COUNTRY IS OF NO CONSEQUENCE
BECAUSE YOU WANT TO CHANGE THE
WAY THE AMERICAN PEOPLE GET
AROUND AND YOU WANT TO CHANGE
THE WAY WE DO BUSINESS IN THIS
COUNTRY?
YOU HOLD VOTES ON THE FLOOR OF
THIS HOUSE SOMETHING CALLED CAP
AND TRADE AND FAILS.
PASSES THE HOUSE AND GETS TO THE
SENATE AND DICE.
YOU TRY TO GET THE REGULATORS TO
SHUT THEM DOWN AND THAT WILL DO
JUST AS GOOD AS PASSING CAP AND
TRADE.
IF YOU WANT TO KNOW WHAT IT DOES
TO YOU FOLKS LOOKING FOR A JOB,
WELL, TEXAS AT ONE TIME IN THE
VERY NEAR PAST IN THE LAST YEAR,
HAD THE LOWEST UNEMPLOYMENT IN
THE NATION, UNTIL WE SHUT DOWN
DRILLING OFFSHORE AND ALONG THE
GULF COAST AND WE LOST
THOUSANDS, TENS OF THOUSANDS,
POSSIBLY HUNDREDS OF THOUSANDS
OF PEOPLE THAT ARE CONNECTED
WITH THIS TRY INDUSTRY.
IT'S NOT THE DRILLERS THAT DRILL
THE OIL WELL BUT THE FOOD
SERVICE, BUT THE HELICOPTER
PEOPLE, TRANSPORT PEOPLE,
SHIPPING INDUSTRY THAT
TRANSPORTS THE FUEL, THE
PIPELINE INDUSTRY THAT PUTS IT
IN THE PIPELINE AND DELIVERS IT,
OF THESE
PEOPLE ARE AFFECTED WHEN YOU
SHUT DOWN THE LOCAL SOURCE,
WHICH IS WHAT THIS
ADMINISTRATION HAS DONE.
AND WE SAY TO OURSELVES, WHY IS
THE PRICE OF GASOLINE GONE UP?
WELL, IT SEEMS TO ME PART OF THE
PROBLEM HAS GOT TO BE AN
ADMINISTRATION HOSTILE TO THIS
VERY INDUSTRY.
IT'S AWFULLY HARD WHEN THE
REGULATORS, E.P.A. AND OTHERS,
HAVE PAINTED A TARGET ON YOUR
BACK TO PREVENT YOU FROM
PRODUCING.
YOU KNOW, WE MADE A PHENOMENAL
GAS FIND IN THIS COUNTRY.
WE HAVE FOUND, IF I HAD TOLD YOU
THIS FOUR YEARS AGO THAT WE
WOULD BUST UP ROCKS TO FIND
NATURAL GAS, YOU WOULD SAY I
NEEDED TO HAVE SERIOUS
PSYCHIATRIC EXAMINATION BECAUSE
IT DOESN'T MAKE SENSE THAT YOU
CAN BUST UP ROCKS AND MAKE GAS.
BUT WE HAVE DISCOVERED SHALE
GAS.
AND NOW, WE HAVE SHALE GAS IN
TEXAS AND MIGHT PROUD OF IT, IT
TOUCHES MULTIPLE STATES.
IT GOES RIGHT UP THROUGH THE
SOUTH AND MIDWEST AND RIGHT UP
INTO PENNSYLVANIA WHERE THEY
HAVE DONE SOME SERIOUS SHALE OIL
WORK AND EVEN -- AND I KNOW
THERE IS SOME IN YORKT, ALTHOUGH
THEY DON'T SEEM TO BE INTERESTED
IN PRODUCING IT.
A BELT OF PRODUCT STRETCHES
.
ACROSS OUR COUNTRY, NATURAL GAS.
AND YET IMMEDIATELY THERE'S SOME
PEOPLE WHO ARE TELLING YOU, I
CAN SMELL THAT GAS IN MY WATER
WELL.
WELL, I GOT NEWS FOR YOU.
NATURAL GAS DOESN'T SMELL.
SO IF YOU SMELL THAT GAS IN YOUR
WATER WELL YOU GOT A CITY GAS
LINE LEAKING SOMEPLACE IN YOUR
HOUSE BECAUSE YOU PUT THE SMELL
IN THE GAS WHEN YOU SELL IT TO
THE RETAIL CUSTOMER SO YOU CAN
SMELL THE GAS IF IT'S LEAKING IN
YOUR HOUSE.
BUT THERE'S NO SMELL IN NATURAL
GAS.
PEOPLE COME UP HERE TO CONGRESS
AND SAY, THEY DRILLED A WELL
RIGHT AROUND THE CORNER FROM ME
AND NOW MY WATER SMELLS LIKE
NATURAL GAS.
DOESN'T MAKE SENSE BECAUSE
NATURAL GAS DOESN'T SMELL.
I CAN TELL THAT YOU FROM
PERSONAL EXPERIENCE.
IT DOES NOT SMELL BECAUSE I HAVE
DUG UP THE MACHINE ON A JOB I
HAD THAT SMELLS AND THAT WAS ONE
OF THE NASTIEST JOBS I EVER HAD
BECAUSE YOU GOT THAT SMELL ALL
OVER YOU.
BUT THAT'S A DIFFERENT STORY.
WE NEED AN ENERGY POLICY THAT
WORKS, NOT AN ANTIENERGY POLICY.
-- ANTI-ENERGY POLICY.
AN ANTIENERGY POLICY.
YEAR ONE, 2009.
FEBRUARY 4, 77 UTAH OIL AND GAS
LEASE AREAS WITHDRAWN FROM
DEVELOPMENT.
ONE OF THE THINGS WE TALK ABOUT
A LOT IN TEXAS, WE TALK NOW
ABOUT IT IN PENNSYLVANIA, WE
TALK ABOUT MANY OTHER PLACES
WHERE THERE IS NOW PRODUCTION
BUT WHAT WE DON'T TALK ABOUT
BECAUSE WE HAVEN'T BEEN ABLE TO
GET IN THERE TO DO IT IS THE
BASIN OF WHICH UTAH SITS IN THE
MIDDLE OF BUT IT GOES UP INTO
IDAHO, IT GOES OVER IN WYOMING,
IT GOES UP INTO MONTANA, THERE'S
A LARGE POTENTIAL FEEL -- FIELD
AND DISCOVERY FIELD IN NORTH
DAKOTA OF OIL AND GAS.
BUT THE UTAH OIL LEASES WERE
WITHDRAWN FOR DEVELOPMENT.
FEBRUARY 10, ACTIONS OF THE
ADMINISTRATION, OFFSHORE LEASING
PLANS DELAYED FOR SIX MONTHS.
FEBRUARY 25, SHALE OIL RESEARCH
AND DEVELOPMENT LEASES DELAYED
IN COLORADO, WYOMING AND UTAH.
MARCH 30, THREE MILLION ACRES OF
FEDERAL LAND REMOVED FROM ENERGY
PRODUCTION BY OMNIBUS PUBLIC
LANDS MANAGEMENT ACT.
PASSED BY A DEMOCRATIC CONGRESS.
JUNE 29, 29 MILLION ACRES OF
FEDERAL LAND REMOVED FROM SOLAR
ENERGY DEVELOPMENT PLAN LEAVING
JUST 670,000 SOLAR ACRES.
SO EVEN THE SO-CALLED CLEAN
ENERGY IS MEETING ROAD BLOCKS BY
THIS ADMINISTRATION TWO MILLION
ACRES OF FEDERAL LAND HERE,
URANIUM MINING BLOCKED FOR TWO
YEARS ON ONE MILLION ACRES OF
LAND IN ARIZONA.
THAT WAS IN JULY.
AUGUST, 2524,000 ACRES IN
WYOMING, OIL AND GAS LEASES
WITHDRAWN.
SEPTEMBER, NEW OUTER CONTINENTAL
SHELF LEASE PLAN POSTPONED UNTIL
2012.
OCTOBER, 60 OF THE 77 UTAH OIL
AND GAS LEASES PERMANENTLY
CANCELED.
NOVEMBER, OBAMA ADMINISTRATION
FOUND TO HAVE APPROVED THE LEASE
-- OIL AND GAS LEASES ANNUALLY
EVER RECORDED IN THE UNITED
STATES HISTORY.
SO THEY IN THE FIRST YEAR, THIS
ADMINISTRATION, THEY STARTED OUT
WITH A CLEAR POLICY OF GETTING
RID OF OUR ENERGY, NOT GOING
AFTER OUR ENERGY.
EVEN SOLAR.
YEAR TWO.
JANUARY 6, NEW RIG ISSUESED TO
RESTRICT OIL AND GAS DEVELOPMENT
ON FEDERAL LAND.
JANUARY 26, JANUARY OFFSHORE
LEASES DELAYED.
JANUARY 28, RESTRICTED SHALE OIL
LEASE TERMS CUTTING INDUSTRY OFF
BY -- OFFERS 85%.
40 BILLION OIL AND GAS INDUSTRY
TAX AND FEE INCREASES INTRODUCED
IN F.Y. 2011 BUDGET PROPOSAL.
FEBRUARY 17, ADMINISTRATION
UNILATERALLY SHUTS DOWN YUCCA
MOUNTAIN, THE NATION'S ONLY
REPOSITORY FOR SPENT NUCLEAR
FUEL, JEOPARDIZING THE FUTURE OF
NUCLEAR INDUSTRY.
-- ENERGY.
THAT'S ENERGY.
MARCH 12, 61 MONTANA OIL LEASES
WITHDRAWN.
MARCH 31, MAJORITY OF OUTER
CONTINENTAL SHELF CLOSED TO
FUTURE PRODUCTION.
MAY 6, BAN ON OIL GULF DRILLING
OVER B.P. SPILL.
JULY 12, PRESIDENT DRILLING BAN.
GULF DRILLING BAN LIFTED BUT
REFUSES TO ISSUE NEW PERMITS,
KEEPING A DE FACTO BAN IN PLACE
IN CONTEMPT OF FEDERAL COURT.
NOVEMBER 18, INTERIOR DEPARTMENT
PLANS NO NEW GULF LEASES UNTIL
2012.
DECEMBER 1, ADMINISTRATION
REINSTATES THE ILLEGAL GULF
DRILLING BAN TO INTRODUCE THE
ENTIRE PACIFIC, ATLANTIC COAST
AND EASTERN GULF AND PARTS OF
ALASKA.
SO THEY REINSTATE THE BAN TO
COVER THE WHOLE COAST OF THE
COUNTRY.
OH, YEAH, WE GOT ONE MORE HERE.
YEAR THREE.
2011, JANUARY 14, EVOKED --
REVOKED WEST VIRGINIA COAL MINE
PERMIT COSTING 250 AMERICAN
JOBS.
FEBRUARY 2, FEDERAL JUDGE FINES
-- FINDS INTERIOR DEPARTMENT IN
CONTEMPT OF COURT OVER DE FACTO
DRILLING BAN.
FURTHER DELAYS TO U.S. OIL SHALE
PRODUCTION ON DECIDING TO
REREVIEW THE CURRENT RULES FOR
COMMERCIAL OIL SHALE LEASING.
FEBRUARY 28, CONTINUED THE DE
FACTO DRILLING BAN WHILE ISSUES
A -- ISSUING A TOKEN DEEPWATER
PERMIT.
MARCH 4, PRESIDENT APPEALED THE
FEDERAL COURT RULING TO ISSUE
STALLED DEEPWATER PERMITS.
WHEN I SAW THAT SHALE OIL, I SAW
MY FRIEND STAND UP, HE'S FROM
PENNSYLVANIA, I YIELD TO MY GOOD
FRIEND WHATEVER TIME HE MAY NEED
TO TALK ABOUT THE GREAT THINGS
THAT ARE HAPPENING IN
PENNSYLVANIA.
I THANK MY GOOD FRIEND FOR
HOSTING THIS HOUR.
I ACTUALLY DO THINK THIS
ADMINISTRATION HAS A ENERGY
POLICY AND IT IS ALL ABOUT
SHUTTING DOWN ALL THE DOMESTIC
USE OF THE RESOURCES WE'VE BEEN
BLESSED WITH IN THIS COUNTRY.
AND IT'S ABOUT
CUTTING OUR SUPPLY, ELIMINATING
OUR DOMESTIC SUPPLY.
WHEN I THINK ABOUT -- I LOOKED
AT YOUR CHART YOU HAD IN TERMS
OF GAS PRICES REFLECTING 2009
AND 2011.
THERE'S A LOT OF, I KNOW AT THE
WHITE HOUSE THEY'RE TALKING A
LOT ABOUT -- THE PRESIDENT IS
ASKING THE ATTORNEY GENERAL AND
PUTTING TOGETHER A TASK FORCE
AND TRYING TO FIND THE BAD GUYS
OF WHO'S CAUSING GAS PRICES TO
BE SO HIGH RIGHT NOW, PUSHING
OVER $4 A GALLON.
WELL, YOU KNOW, THERE'S ONLY
REALLY ONE THING THAT IMPACTS
DEMAND.
GAS PLACES AND THAT'S SUPPLY AND
AND DEMAND AROUND THE WORLD IS
GOING UP.
BUT THE PROBLEM IS YOU IS REALLY
CAPTURED NICELY IN THE
DOCUMENTATION, CONGRESSMAN, THIS
ADMINISTRATION HAS SHUT DOWN
ACCESS TO DOMESTIC SUPPLY.
AND WE'RE MAKING MO US MORE AND
MORE FOREIGN DEPENDENT.
WITH WHAT'S HAPPENING IN LITTLE
BIT YARKS WE ONLY GET 2% OF OUR
OIL RESOURCES FROM LIBYA AND
JUST THAT 2% WITH WHAT'S
HAPPENING IN THAT COUNTRY, WE'RE
SEEING GAS PRICES NOW PUSH OVER
$4 A GALLON.
AND I'D LIKE TO CONTRAST THAT
WITH THE SHALE GAS THAT YOU
TALKED ABOUT WITH BECAUSE IN
IT.
PENNSYLVANIA WE ARE BLESSED WITH
LET ME ALSO CLAIM MY HERITAGE.
I REPRESENT TITUSVILLE,
PENNSYLVANIA, WHERE DRAKE
DRILLED THAT FIRST WELL 150
YEARS AGO AND WE'RE VERY PROUD
OF THAT.
BUT ALSO THE 17 COUNTIES I
REPRESENT IN PENNSYLVANIA ARE
RIGHT IN THE HEART OF THE
NATURAL GAS SHALE.
AND IN THE MIDDLE OF ONE OF THE
WORST RECESSIONS WEAVE HAD SINCE
THE GREAT DEPRESSION, WHEN GAS
PRICES, IF YOU CAPTURED THEM,
THEY ARE SPIKING AT JUST RECORD
HEIGHTS, IF WE HAD A CHART THAT
SHOWED NATURAL GAS PRICES THAT
ACTUALLY IS A RECORD LOW, IT'S A
LITTLE OVER $4.
NORMALLY WHEN WE WOULD IMPORT
OUR DOMESTIC GAS FROM OTHER
COUNTRIES, RIGHT NOW NATURAL GAS
WOULD PROBABLY BE SOMEWHERE
AROUND $11 OR $12 A CUBIC FOOT
BUT TODAY IT'S $4 SOMETHING A
CUE PICK FOOT, IN THE MIDDLE OF
THE WORST RECESSION THIS WINTER
THE FOLKS ALL OVER THE STATE,
INCLUDING CENTER CITY
PHILADELPHIA, HAVE BEEN PAYING
THE LOWEST GAS RATES BECAUSE IT
IS DOMESTICALLY PRODUCED.
IT SPEAKS OF A STRONG DOMESTIC
SUPPLY PROGRAM.
THE POLICIES IN THIS
ADMINISTRATION MAKE THAT ALMOST
IMPOSSIBLE FOR OUR OIL AND
THEY'RE COMING AFTER NATURAL
GAS, PRYING -- TRYING TO STOP
THAT AS WELL.
THAT'S DRIVING UP COSTS AND I
FIND THAT'S JUST -- IT'S NOT
ONLY SO TERRIBLY DAMAGING ON OUR
ECONOMY AND JOBS, IT'S JUST
IMMORAL.
WHEN WITH WE ARE BLESSED WITH
THESE RESOURCES, THEY'RE PRODUCE
PRO-- PROVIDED TO US FOR A
PURPOSE.
IF OUR FRIEND WOULD
YIELD FOR MINUTE.
WHAT'S THE UNEMPLOYMENT RATE IN
PENNSYLVANIA RIGHT NOW?
SOMEWHERE JUST
ABOUT -- WELL, IT'S LOWER THAN
NATIONAL AVERAGES.
I HAVE A COUPLE OF COUNTIES IN
TICK -- PARTICULAR, ONE COUNTY
IS IN THE HEART OF THIS NATURAL
GAS, IT IS PROBABLY THE FIRST
TIME IN HISTORY THAT COUNTY'S
UNLOIMENT IS BLOW --
UNEMPLOYMENT IS BELOW BOTH STATE
AND NATIONAL AVERAGES AND LINGTS
BECAUSE OF THE NATURAL GAS
INDUSTRY.
IT'S BECAUSE OF ALL
THOSE JOBS.
ABSOLUTELY AND
YOU'RE RIGHT, IT'S NOT JUST THE
DRILLING JOBS BUT IT'S THE HOTEL
JOBS, THE RESTAURANT JOBS.
I'VE GOT MANUFACTURERS RIGHT NOW
THAT ARE SITTING THERE WITH --
SITTING WITH JOBS THAT THEY
CAN'T FILL AND WE HEAR A LOT
ABOUT UNEMPLOYMENT BUT I HAVE --
AND THESE ARE GOOD JOBS.
THEY PAY A SIGNIFICANT AMOUNT OF
MONEY PER HOUR, GOOD BENEFITS,
IT'S A GREAT EMPLOYER AND
THEY'RE SITTING THERE WITH THESE
JOB OPENINGS LOOKING FOR FOLKS
TO FILL THEM.
NOW SOME OF THE PEOPLE THEY HAD
WORKING FOR THEM HAVE MOVED ON
INTO THE GAS FIELD AND THEY'VE
CREATED NEW OPPORTUNITIES.
SO THIS IS -- IN TERMS OF JOBS,
YOU KNOW, PRODUCING DOMESTIC
ENERGY PRODUCES DOMESTIC JOBS.
IT'S SO IMPORTANT.
RECLAIMING MY TIME
FOR JUST A MOMENT.
A LOT OF PEOPLE DON'T REALIZE
THAT WHEN YOU'RE TALKING ABOUT
PRODUCTION OF OIL AND GAS
THERE'S MUCH MORE TO PUTTING A
RIG ON A PIECE OF LAND THAN JUST
DRIVING OUT THERE AND PUTTING IT
UP.
YOU BUILD ROADS, YOU BUILD
FENCES, PEOPLE -- ROAD BUILDERS
DON'T DRILL A SINGLE DROP OF GAS
BUT THEY BUILD THE ROAD AND
THAT'S A JOB.
MULTIPLE JOBS.
IN LOUISIANA AND THE MARSHY
PARTS OF THE COUNTRY, THEY USED
TO BUILD WOODEN ROADS TO GET OUT
TO THESE ARE RIGS.
ALL THIS CREATES JOBS, ALL THE
SCIENCE INDUSTRIES OF THE OIL
AND GAS INDUSTRY, JUST LIKE ANY
OTHER INDUSTRY, THERE ARE SIDE
INDUSTRIES THAT FEED THE BIG
INDUSTRY AND THEY ALL CREATE
JOBS.
IN A COUNTRY THAT DROPPED BELOW
9% BUT NOW HAS JUMPED BACK THIS
MONTH ABOVE 9% AGAIN AFTER ONE
OF THE LOCKEST STRETCHES OF HIGH
-- LONGEST STRETCHES OF HIGH
UNEMPLOYMENT IN CRIT, YOU KNOW,
I JUST USE MY FAMILY AS AN
EXAMPLE, MY DADDY WAS BORN IN
KENTUCKY AND MY MOTHER WAS BORN
IN TENNESSEE.
IN FACT, WHERE MY MOTHER LIVES
MAYBE PRETTY CLOSE TO BEING
UNDER WATER RIGHT NOW.
IN FACT, SHE LIVES RIGHT CLOSE
TO THE RIVER IN TENNESSEE.
AND THE GREAT DEPRESSION THERE
WERE NO JOBS IN THAT PART OF THE
COUNTRY.
BUT THERE WERE JOBS IN TEXAS.
BECAUSE THE OIL INDUSTRY.
AND SO THEY BOTH CAME DOWN TO
TEXAS TO GET A JOB IN THE OIL
INDUSTRY.
NOW, THEY BOTH ENDED UP IN THE
OIL INDUSTRY BUT THEY BOTH
STARTED OUT, MY MOTHER WAS IN
THE SECRETARY AL POOL FOR
BUSINESS AND HIGH DADDY WAS A
TEACHER, AN ACCOUNTING
PROFESSOR.
BUT THEY GOT JOBS IN ALL OF THIS
AND IT WAS ALWAYS GOOD IN OUR
FAMILY.
I DON'T LAY ANY BONES ABOUT IT.
I WAS RAISED IN AN OIL AND GAS
FAMILY, MY DAD WAS A BIG GAS MAN
AND I'VE SEEN IT MAKE NOT ONLY
OUR STATE PROSPER BUT ALL OF THE
PRODUCING STATES I'VE EVER
VISITED, THEY HAVE PROSPERED.
LOOK WHAT IT'S DONE FOR ALASKA.
LOOK AT LOUISIANA.
LOOK AT NEW MEXICO AND OKLAHOMA.
WHAT IT DOES TO THOSE STATES AND
ECONOMY.
AND TO TAKE AND TARGET AN
INDUSTRY AND GO AFTER THAT
INDUSTRY THE WAY THIS
ADMINISTRATION HAS DONE, NOT
ONLY, THAT I DON'T EVEN
DEAL.
UNDERSTAND THE YUCCA MOUNTAIN
I DON'T UNDERSTAND THE NO
URANIUM LEASES.
IF WE'RE GOING TO SWITCH TO,
WHICH NOW THE PRESIDENT SAYS IN
A COUPLE OF SPEECHES, WE'LL
SWITCH TO NUCLEAR, I THINK THAT
MAY HAVE CHANGED NOW THAT
JAPAN'S DISASTER, BUT WE CAN'T
DO IT WITHOUT URANIUM.
WELL, THERE'S A NEW PROCESS YOU
MAY BE COULD BUT THAT'S A
DIFFERENT STORY.
HISTORICALLY YOU CAN'T DO IT
WITHOUT URANIUM.
YOU HAVE TO HAVE THE LOCATION TO
STORE THE FUEL BUT THESE THINGS
ALL TENDED -- AMERICANS NEED TO
WAKE UP AND SAY, WAIT A MINUTE,
WE NEED ENERGY.
I WAS TALKING TO PEOPLE TODAY
THAT SAID THE E.P.A. WAS GOING
TO DO THEIR BEST TO SHUT DOWN
WOOD-BURNING FIREPLACES.
MY GOSH.
I MEAN, HOW ARE WE GOING TO GET
WARM, YOU GUYS, UP NORTH, HOW
ARE YOU GOING TO GET WARM IN
THE WINTERTIME IF YOU'RE GOING
TO TAKE AWAY YOUR COAL AND YOUR
NATURAL GAS AND THE PRICE OF
OIL WILL BE THROUGH THE ROOF
AND YOU CAN'T AFFORD THAT AND
YOU CAN'T EVEN BURN WOOD IN
YOUR OWN FLYERS.
WHAT'S WRONG WITH THIS PICTURE?
I YIELD BACK.
--
YOU'RE RIGHT.
IT'S BEEN WELL
DOCUMENTED THAT TWO COUNTRIES
IN PARTICULAR ARE INCREASING
THEIR THIRST FOR OIL, THAT IS
CHINA AND INDIA, IT'S EXPECTED
JUST WITHIN THE NEXT FEW YEARS
THE DEMAND FOR OIL IS GOING TO
GO UP 10 MILLION TO 12 MILLION
BARRELS OF -- BARRELS OF OIL A
DAY.
THAT'S IN ADDITION TO WHAT THE
WORLD IS USING TODAY.
IF THAT OCCURS AND WE DON'T
INCREASE OUR DOMESTIC SUPPLY,
WE DON'T HAVE A BOARD BIG
ENOUGH TO SHOW WHERE THAT RED
LINE IS GOING TO CLIMB TO IN
TERMS OF GAS PRICES.
IT IS ABSOLUTELY CRITICAL.
THAT'S WHY I'M SO PROUD, I'M ON
THE NATURAL RESOURCES
COMMITTEE, WE PASSED OUT OF
THERE THREE WEEKS AGO -- A WEEK
AGO THREE PIECES OF
LEGISLATION.
THE HOUSE PASSED H.R. 1229
PUTTING THE GULF BACK TO WORK
ACT, THIS WEEK WE'LL BE WORKING
ON H.R. 1230, RESTARTING
AMERICAN OFFSHORE LEASING ACT
AND THAT WILL MAKE A
DIFFERENCE.
CRITICS WILL SAY, IT WOULD BE A
YEAR OR MORE UNTIL YOU PRODUCE
ONE BARREL OF OIL ONCE WE PASS
THAT ACT.
THAT'S TRUE.
IT TAKES A WHILE TO GET THAT
RIG SET UP AND GET IT PRODUCED.
BUT WE ONLY HAVE TO LOOK BACK
TO 2008, WHEN PRESIDENT BUSH
AND THIS CONGRESS FINALLY
LIFTED THE OUTER CONTINENTAL
SHELF BAN, MORATORIUM, AND ON
THE DAY THAT THAT WAS LIFTED
AND CONGRESS LIFTED THAT AND WE
BEGAN, WE GAVE THE APPROVAL TO
GO AHEAD WITH ISSUING PERMITS
AGAIN ON THE TAI THEY VOTED ON
IT, THE PRICE OF GAS IN 2008
WAS $4 AND SOMETHING A GALLON.
THE NEXT DAY IT WAS $2 AND
SOMETHING A GALLON.
IT DOES MAKE A DIFFERENCE AND
INDICATES AMERICA IS WILLING TO
USE ITS OWN RESOURCES AND WON'T
BE DEPENDENT ON THE MIDDLE
EAST, ON LIBYA, SAUDI ARABIA,
ON PLACES SO VOLATILE TODAY WE
DON'T KNOW IF THERE'S A
REVOLUTION OR DEMONSTRATIONS OR
RIOTS OR TERRORISM, THAT WE'RE
NOT GOING TO HAVE ACCESS TO
THAT 30% OF OUR ENERGY
RESOURCES THAT WE USE TODAY.
SO BEST PREDICTOR OF FUTURE
PERFORMANCE IS PAST
PERFORMANCE.
RIGHT THING AN PASSES THESE
WE KNOW IF THE SENATE DOES THE
ACTS THAT WE'RE GOING TO HAVE
AND WILL PASS OUT OF THE HOUSE
OF REPRESENTATIVES, GAS PRICES
WILL COME DOWN.
BUT UNFORTUNATELY, THE BEST
PREDICTOR OF FUTURE PERFORMANCE
IS PAST PERFORMANCE AND UNDER
THIS ADMINISTRATION, THEY'RE
GOING TO CONTINUE TO LIMIT AND
ELIMINATE OUR AMERICANS' ACCESS
TO THE DOMESTIC RESOURCES WE
HAVE HERE IN THIS CUPRY.
THE GREAT SURGE IN
THE COST OF NATURAL -- OF
GASOLINE, THAT WAS THE RESULT
OF TWO THINGS.
YOU NAMED ONE OF THEM.
THE OTHER ONE WAS THAT A SMALL
FIRE IN ILLINOIS IN A REFINERY.
BUT THE SPECULATORS LOOK AND
SAY, REFINING CAPACITY IS SHUT
DOWN AND WE HAVE A LIMITED
REFINING CAPACITY BECAUSE WE
HAVEN'T BUILT A MAJOR REFINERY
IN THIS COUNTRY IN 25 YEARS
BECAUSE OF THE BURDENSOME RULES
WE'VE COME UP WITH.
AND THE FACT THAT WE CAN'T
PERMIT THEM.
THEY LOOK AT REFINING CAPACITY
AND OTHER ISSUES AND SAY, WAIT
A MINUTE IF THERE'S NOT A
SHORTAGE NOW, THERE'S GOING TO
BE AN THEY RUN THE PRICE UP.
AND THEN WHEN IT OPENS UP, HEY,
THE MARKET GETS BACK TO NORMAL
AGAIN.
AND EVERY TIME THAT HAPPENS,
THE AMERICAN -- THE DRIVING
PUBLIC OF AMERICA SUFFERS.
THEY'RE SUFFERING TODAY.
AND THEY'RE SUFFERING ON TOP OF
THE HIGHEST UNEMPLOYMENT,
LONGEST PERIOD OF HIGH
UNEMPLOYMENT IN MODERN TIMES,
JUST ABOUT.
SO THIS IS REALLY ABOUT
GATHERING AROUND THE -- THIS IS
ONE OF THOSE, WHAT WE CALL
KITCHEN TABLE ISSUES.
WHEN THE FAMILY GATHERS AROUND
THE KITCHEN TABLE TO FIGURE OUT
HOW THEY'RE GOING TO MAKE THE
BUDGET WORK, ESPECIALLY IF MOM
OR DAD IS LAID OFF, ONE THING
THEY'RE LOOKING AT IS THE COST
OF FUEL.
DOWN WHERE WE COME FROM, WE
WANT IT COOL.
THEY LOOK TO SEE HOW MUCH IT'S
GOING TO COST THEM TO GET TO
AND FROM SCHOOL TO AND FROM
WORK, HOW THEY CONSERVE ENERGY,
MAYBE THEY CAR POOL, THEY'RE
MAKING THESE KINDS OF DECISIONS
AND YET THE GOVERNMENT SEEMS TO
BE MAKING THESE JYDWANTIC
DECISIONS TO SHUT OFF SUPPLY
AND THEN WONDER WHY WE HAVE AN
ENERGY CRISIS IN THIS COUNTRY.
IT'S NOT ROCKET SCIENCE.
THIS IS THE LAW OF SUPPLY AND
DEMAND.
WE HAVE THE BIGGEST DEMAND.
IF WE CAN'T MEET OUR DEMAND, WE
HAVE TO GO TO FOREIGN OIL.
IF THERE'S A FIGHT IN LIBYA, WE
MAY NOT USE MANY MUCH OF THE
FOREIGN OIL RIGHT NOW BUT
SOMEBODY ELSE DOES AND IF IT
GOES INTO ANOTHER MARKET TO GET
THEIR OIL, THEN THAT MAKES OUR
MARKET GO UP.
IT'S ALL WORLDWIDE MARKET ON
OIL AND GAS.
I DON'T UNDERSTAND WHY PEOPLE
THINK THEY'RE GOUGING YOU,
THEY'RE MAKING EXCESSIVE
PROFITS.
AND I UNDERSTAND THE PAYMENT ON
C.E.O.'S AND I'M NOT DEFENDING
ANY PAYMENT ON C.E.O.'S FOR ANY
INDUSTRY.
IT'S NOT JUST THE OIL INDUSTRY
THAT PAYS BIG BUCKS FOR
C.E.O.'S.
BUT IF YOU LOOK AT THE HISTORY
OF THE OIL AND GAS INDUSTRY,
THEIR PERCENTAGE ON INVESTMENT
IS LOWER THAN MOST AVERAGE
MANUFACTURING FACILITIES,
SOMEWHERE BETWEEN 6% AND 8%
RETURN ON THEIR INVESTMENT.
AND YOU SAY, WHAT INVESTMENTS?
WELL, I THINK I SAID EARLIER,
THOSE OFFSHORE DRILLING RIGS
THAT DRILL IN THE GULF OF
MEXICO AND NOW HAVE ALL BEEN
MOVED OFF THE COAST OF AFRICA,
TO INDONESIA AND OFF THE COAST
OF BRAZIL.
THOSE RIGS COST $1 BILLION AND
THEY CAN COST YOU OPERATIONAL
WISE IN A 24-HOUR DAY ALMOST $1
MILLION TO OPERATE.
THEY ARE EXPENSIVE.
AND IF YOU GET NOTHING BUT DUST
WHEN YOU GET DOWN TO THE BOTTOM
OF THAT WELL, YOU HAVE BLOWN A
WHOLE LOT OF MONEY OUT THE
DOOR.
AND THAT'S JUST LOSS.
THEN YOU DRILL THE NEXT WELL TO
TRY TO GET IT BACK.
IT'S A GAMBLE.
IT'S -- WE'VE GOTTEN BETTER AT
LOOKING FOR IT AND FINDING IT
BUT IT'S STILL A GAMBLER'S
BUSINESS WHEN YOU GET DOWN TO
IT.
BUT THIS IS CAUSED BY THE
GOVERNMENT, TO A GREAT EXTENT.
YOU CAN'T CREATE AN ENVIRONMENT
OF UNCERTAINTY IN ANY MARKET, I
DON'T CARE WHAT THE MARKET IS,
IF YOU CREATE THE IDEA OF
UNCERTAINTY, IT AFFECTS THE
MARKET.
IT ALSO AFFECTS THE PSYCHE OF
THE PEOPLE.
AND THAT'S KIND OF WHAT I DON'T
THINK THEY'RE GETTING.
SO THEIR SOLUTION IS TAX IT.
IF IT MOVES, TAX IT.
WELL, THE PROBLEM WITH THAT IS,
DO YOU REALLY THINK THE C.E.O.
OF EXXON IS GOING TO PAY THE
TAXES IF WE INCREE TAXES ON THE
OIL AND GAS INDUSTRY?
NO.
YOU AND I ARE GOING TO PAY
THOSE TAXES WHEN WE FILL UP OUR
TANK.
IF YOU GO AND ASK THE QUESTION,
THEY'LL TELL YOU AT YOUR LOCAL
FILLING STATION, USED TO
PUBLISH IT IN TEXAS ON THE
PUMP, HOW MUCH OF A GALLON OF
GASOLINE WAS TAX.
IT'S A WHOLE BUNCH.
DIRECT TAX MAKES UP A LARGE
AMOUNT OF THE COST OF GASOLINE.
ALWAYS HAVE.
AND I COME FROM A TIME WHEN WE
USED TO HAVE 19 CENT A GALLON
GASOLINE IN TEXAS.
TRY THAT ON FOR SIZE.
I COULD GO BUY $1'S WORTH OF
GAS AND DRIVE ALL WEEK.
I YIELD BACK.
I THANK THE
GENTLEMAN FROM TEXAS.
IN TERMS OF THE PROFITS OIL
COMPANIES MAKE, IT IS WITH WHAT
MOST INDUSTRIES, WHETHER A
MANUFACTURER OR SERVICE
INDUSTRY, MAKE AROUND 6% TO 8%.
BUT YOU HAVE TO ASK YOURSELF,
WHO IS BENEFITING FROM THAT?
I WOULD FIND IT HARD TO BELIEVE
THAT THERE'S NOT A LOT OF --
THAT MANY AMERICANS BENEFIT
FROM THAT BECAUSE THEIR PENSION
PROGRAMS ARE INVESTING IN THE
PORTFOLIOS THEY MAY HAVE, THEIR
PENSIONS ARE INVESTING IN THOSE
TYPES OF COMPANIES AND
BENEFITING FROM THAT 6% TO 8%
MARGIN THEY'RE DELIVERING.
THOSE WHO WILL SPEAK AGAINST
USING OIL WILL SAY, WE DON'T
HAVE ENOUGH.
WE USE SO MUCH BUT WE ONLY HAVE
2% OF THE PROVEN RESERVES.
HERE'S THE FACTS.
FRANKLY, WE PROVEN RESERVES
WHEN THEY DEFINE THAT, THEY
LOOK AT CONVENTIONAL.
THEY DON'T CONSIDER SHALE GAS
OR SHALE OIL, THEY LOOK AT
CONVENTIONAL RESERVES.
THEN THEY DON'T LOOK -- THEY
REALLY DON'T LOOK AT PROBABLE
AND PROBABLE, THERE'S 10 TO 20
IN TERMS OF PROBABLE.
TIMES IS A THAT MUCH AVAILABLE
THEN WHEN YOU GET TO ESTIMATE,
THERE'S ENOUGH OIL OUT THERE TO
REALLY, I THINK, MEET THE NEEDS
OF THIS COUNTRY FOR AS LONG AS
WE NEED TO.
I'M NOT SAYING FOREVER BECAUSE
I THINK AT SOME POINT, THERE
WILL BE A NEW ENERGY SOURCE
COME ALONG.
IT MAY BE GENERATIONS UNTIL WE
GET THAT, MAY WITH HYDROGEN
FUELED CARS, I DON'T KNOW WHAT
IT IS, WE'LL HAVE THAT SCIENCE
IN THE FUTURE.
BUT WE HAVE PLENTY TO MEET OUR
NEEDS RIGHT NOW.
IN TERMS OF NATURAL GAS, FROM
THE RESERVES IN TEXAS AND
PENNSYLVANIA AND THE OUTER
CONTINENTAL SHELF AND FRANKLY
THROUGHOUT THE WEST, WE HAVE AT
LEAST 200 YEARS OF NATURAL GAS.
THAT'S JUST WHAT WE KNOW ABOUT.
AND THE UNKNOWN IS, BUT IT'S
PRETTY CONSISTENT, IS
TECHNOLOGY GETS BETTER AND
BETTER AND BETTER.
IT'S ONLY WITH THE ADVENT ABOUT
60 YEARS AGO THE DEVELOPMENT OF
HORSONTAL DRILLING THAT WE'VE
BEEN ABLE TO ACCESS --
HORSONTAL DRILLING THAT WE'VE
BEEN ABLE TO ACCESS THE OIL AND
NATURAL GAS.
I KNOW SCIENTISTS ARE LOOKING
AT NEW AND BETTER WAYS TO GET
OUT MOST -- MORE OF THIS
RESOURCE THAT GOD HAS REALLY
BLESSED US WITH AS A COUNTRY.
SO I THINK WE REALLY DO NEED AN
ENERGY POLICY IN THIS COUNTRY
AND IT OUGHT TO BE ONE CENTERED
AROUND FULL USE AND ACCESS TO
DOMESTIC ENERGY RESOURCES.
WE OUGHT TO BE DOING THE
RESEARCH, TOO, OBVIOUSLY FOR
NEW DEVELOPMENT AND ENERGY
EFFICIENCY IS IMPORTANT AS
WELL, WHETHER IT'S
TRANSPORTATION OR HEATING OR
APPLIANCES BEING MORE ENERGY
EFFICIENT WITH IT BUT THOSE
THREE THINGS ALONE ALL CENTERED
ON DOMESTIC USE OF ENERGY
RESOURCES, THAT'S THE KIND OF
ENERGY POLICY THIS COUNTRY
NEEDS.
RECLAIMING MY TIME, I AGREE
WITH YOU 100%.
IT'S THE SAME THING --
IT'S THE SAME THING
WE TOOK OVER THIS HOUSE THREE
YEARS AGO IN THE DARK, BECAUSE
THEY TURNED AFTER THE LIGHTS ON
US, WE TALKED FOR ABOUT TWO OR
THREE WEEKS ABOUT WHAT WE WANT
IS ALL OF THE ABOVE.
WE ARE FOR EVERY ENERGY
RESOURCE THAT IS AVAILABLE BUT
WE WANT THAT ENERGY BEING
RESOURCED AS AVAILABLE AS
POSSIBLE TO BE COMPETITIVE IN
THE MARKET.
I MEAN, YOU KNOW, I DON'T WANT
TO TALK ABOUT ANY --
EVERYBODY'S GOT THEIR OWN
LITTLE BAILIWICK AND CORN
FARMERS LOVE ETHANOL BUT IT'S
GOT TO COMPETE.
SUN HAS TO COMPETE, WIND HAS TO
COMPETE.
THEY INVARIABLY CALL US OIL AND
GAS GUYS ANTI-WIND PEOPLE.
WRONG.
TEXAS HAS THE LARGEST WIND FARM
IN THE UNITED STATES.
NO STATE WITH MORE OF THOSE
WIND TURBINES THAN THE STATE OF
TEXAS.
BECAUSE OUT WEST, THAT WIND
BLOWS ALL THE TIME.
FOR WIND.
IT'S LIKE A GOLD MINE.
WHEN YOU -- WHAT DO YOU THINK
BOONE PICKENS IS TALKING ABOUT
WHEN HE TALKS ABOUT WIND ENERGY
AND HIS IDEA OF PUTTING CARS
BURNING NATURAL GAS ON THE ROAD
IS A GOOD IDEA.
I SUPPORT IT.
WHEN WE HEAR NOW WITH THE
DISCOVERY OF SHALE GAS AN THE
ABILITIES, WE JUST STARTED TO
TAP, IT'S JUST A SMALL PART OF
THE FUTURE.
BY THE WAY, I WOULD BE REALLY
INTERESTED TO FIND OUT IF SOME
OF OUR COLLEAGUES WHO ARE SO
OPPOSED TO NATURAL GAS, KNOCKED
ON HIS DOOR AND SAID, SIR, WE'D
LIKE TO TALK TO YOU ABOUT
MAKING A LEASE WITH A SHARE OF
THE PROFITS ON DRILLING FOR
NATURAL GAS ON YOUR PROPERTY.
AND I WONDER IF THEY'D SAY, OH,
NO, I WOULDN'T TAKE THAT.
THOSE HUNDREDS OF THOUSANDS OF
DOLLARS I MIGHT MAKE FROM YOU
DEVELOPING THAT RESOURCE.
NO.
I DON'T BELIEVE IN THAT STUFF.
I DON'T THINK SO.
IT IS -- WHENEVER YOU PRODUCE
WEALTH, WEALTH ENHANCES A
NATION.
AND YOUR NATURAL RESOURCES ARE
PART OF THE WEALTH OF THE
NATION.
ALWAYS HAVE BEEN.
MY FRIEND, THEY ALWAYS WILL BE.
I YIELD BACK.
I WANT TO COME
BACK TO THE POINT YOU TALKED
ABOUT IN TERPS OF ETHANOL,
WIND, SOLAR, IT COULD BE
ANYTHING.