House Proceeding on Jul 17th, 2008 :: 3:55:54 to 3:59:06
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3:55:41 to 3:55:54( Edit History Discussion )

Nick J. Rahall: is recognized for three mutes. mr. markey: i thank the gentleman, and i congratulate him on this excellent piece of legislation. i think we know why we're here. we're here because the american

3:55:54 to 3:56:11( Edit History Discussion )

Edward J. Markey: consumers is being pummeled at the gasoline pump on a daily basis. and they want to know, how did we get from $30 a barrel of oil and $1.50 for a gallon on the day that george bush and

3:55:54 to 3:59:06( Edit History Discussion )
Speech By: Edward J. Markey

3:56:11 to 3:56:25( Edit History Discussion )

Edward J. Markey: dick cheney was sworn in to a point now where it's $140 a barrel and more than $4 a gallon gasoline now. well, it's a very simple formula during the bush-cheney formula. it's two oil men in

3:56:25 to 3:56:38( Edit History Discussion )

Edward J. Markey: the white n house for two terms equals $4 a gallon gasoline. oil math in the united states is very simple. they put together a secret energy plan, dick cheney and george bush on day one in

3:56:38 to 3:56:55( Edit History Discussion )

Edward J. Markey: the white house and today we're out here debating whether or not it's a success. now, from the oil industry perspective, it is, and they were the only ones allowed into these secret meetings

3:56:55 to 3:57:08( Edit History Discussion )

Edward J. Markey: with the president and the vice president. but for the american people, they're being tipped upside down at the pump. and when we democrats say you can go right now and drill up in the petroleum

3:57:08 to 3:57:19( Edit History Discussion )

Edward J. Markey: reserve, can go offshore, you can go into all of these other locations that are already permitted -- i will not yield at this time. no, there is absolutely no interest on the part of the oil

3:57:19 to 3:57:33( Edit History Discussion )

Edward J. Markey: industry. and when we say to the oil industry and to the bush administration, instead of drilling off of the beaches of the united states first, how about going to the strategic petroleum

3:57:33 to 3:57:46( Edit History Discussion )

Edward J. Markey: reserve? how about taking 70 million barrels there and starting to deploy it to put the fear of god into the oil industry, into speculators, into traders? the president says i would never use

3:57:46 to 3:57:57( Edit History Discussion )

Edward J. Markey: that because it's a free market the price of oil out in the marketplace. so what we're saying, don't go to the beaches, go to the strategic petroleum reserve, but they won't do it. so the drill bill --

3:57:57 to 3:58:13( Edit History Discussion )

Edward J. Markey: the drill bill of mr. rahall is very simple. he says instead of drilling somewhere 20 years from now to give an insignificant relief, mr. rahall is saying, drill now in the 68 million acres

3:58:13 to 3:58:24( Edit History Discussion )

Edward J. Markey: that you already have, which has oil. we need instead of drilling for 20 years from now, we need to tap, tap, tap the oil where we have it on the land, in the united states. we need to tap

3:58:24 to 3:58:38( Edit History Discussion )

Edward J. Markey: the strategic petroleum reserve today, immediately, to protect the american consumer. we need to tap into renewable energy resources in order to protect the american people now with wind and solar.

3:58:38 to 3:58:52( Edit History Discussion )

Edward J. Markey: the bush administration says no, no, no, i'm with the american petroleum institute, not the american consumer at the pump, and that's why we are out here in order to say to the oil industry

3:58:52 to 3:59:06( Edit History Discussion )

Edward J. Markey: and to the republican party, stop your coalition which has driven the price of oil to a point where consumers are being tipped upside down at the pump. the speaker pro tempore: the gentleman

3:59:06 to 3:59:19( Edit History Discussion )

Stevan Pearce: from new mexico. >> thank you, mr. chairman. the lease in alaska was sold in 1996, 12 years later over $2 billion has been spent before we even produced one drop of oil. that's 34,000 acres that