House Proceeding on Jun 4th, 2008 :: 3:41:51 to 3:44:54
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3:40:36 to 3:41:51( Edit History Discussion )
Speech By: Sanford D. Jr.Bishop

3:41:38 to 3:41:51( Edit History Discussion )

Sanford D. Jr.Bishop: supply and drive up the price for american consumers. that was a tough vote for the gentleman from illinois. he voted no. he didn't think the justice department should investigate. i also

3:41:51 to 3:42:03( Edit History Discussion )

Patrick T. McHenry: have a bill saying the president should file a complaint against the opec countries in the w.t.o. the bush administration in fact is now investigating collusion by opec. they still haven't filed

3:41:51 to 3:44:54( Edit History Discussion )
Speech By: Patrick T. McHenry

3:42:03 to 3:42:15( Edit History Discussion )

Patrick T. McHenry: the complaint in the w.t.o. so the bush administration has taken a step that the gentleman from illinois opposed. invest igating collusion which is gouging consumers. we need a new energy future.

3:42:15 to 3:42:31( Edit History Discussion )

Patrick T. McHenry: but we don't need to allow our consumers to be price gouged on the way there. mr. wu raised another issue which the gentleman just brushed off. which is the whole issue that credible analysts

3:42:31 to 3:42:42( Edit History Discussion )

Patrick T. McHenry: say because of the enron loophole, remember ken boye, he might be dead but his memory lives on at about 50 cents a gallon for the american people. one of the president's best buddies got a special

3:42:42 to 3:42:54( Edit History Discussion )

Patrick T. McHenry: loophole from this republican congress deregulating derivatives and energy trading so that they could speculate. well, he's dead and enron is bankrupt. but the speculation is rampant and experts

3:42:54 to 3:43:09( Edit History Discussion )

Patrick T. McHenry: tell us probably 50 cents on every gallon, 50 cents on every gallon today, you want to give immediate relief, reregulate the commodities market. you're not regulating the price of gas you're just saying

3:43:09 to 3:43:20( Edit History Discussion )

Patrick T. McHenry: you can't have derivatives and morgan stanley holding more futures contracts and more fuel. just re-regulate the market. they can't self-deal. just re-regulate the market. just bring some regular

3:43:20 to 3:43:34( Edit History Discussion )

Patrick T. McHenry: trading back to that market that existed before 2000. you could save tomorrow 50 cents a gallon. now you can talk about anwr. he talks about it with great certainly. i've been sitting in on debates

3:43:34 to 3:43:42( Edit History Discussion )

Patrick T. McHenry: over 20 years about anwr. one well was drilled. what was there? we don't know. it was proprietary. there are estimates from a little bit to a lot of oil. but he knows exactly how much is there.

3:43:42 to 3:44:03( Edit History Discussion )

Patrick T. McHenry: interesting. and how much revenue it would bring. even more interesting. since right now oil from alaska can and is being exported from the united states of america. i guess he's worried about the

3:44:03 to 3:44:12( Edit History Discussion )

Patrick T. McHenry: chinese energy problem. but that's most likely where any additional supply from alaska would go. until we develop more refinery capacity which the industry refuses to do. and there are ways to

3:44:12 to 3:44:25( Edit History Discussion )

Patrick T. McHenry: drive them to make that investment, but the gentleman doesn't support that legislation either which i've introduced. so we're hearing a lot of talk on that side of the aisle. because the republicans

3:44:25 to 3:44:40( Edit History Discussion )

Patrick T. McHenry: are running scared because their could havers have been filled by this industry for years and they're put into power and bush was put into the white house and dick cheney was put into the

3:44:40 to 3:44:54( Edit History Discussion )

Patrick T. McHenry: vice president's mansion by this industry and this industry is kind of unpopular right now so they want to pretent they it it -- pretend they want to do something. let's bring it closer in.

3:44:54 to 3:45:07( Edit History Discussion )

Peter A. DeFazio: the gentleman again talked about anwr. well, right just a little way away from anwr, guess what? there's something that bill clinton leased call the naval petroleum reserve the we know there's oil

3:44:54 to 3:48:16( Edit History Discussion )
Speech By: Peter A. DeFazio