House Proceeding 05-13-08 on May 13th, 2008 :: 0:24:11 to 0:44:11
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0:16:24 to 0:24:11( Edit History Discussion )
Speech By: Joe Barton

0:23:59 to 0:24:11( Edit History Discussion )

Joe Barton: bill that apparently was drafted in majority leader hoyer's office late last night or early this morning that several members have put their names on and we are on a suspension calendar

0:24:11 to 0:24:29( Edit History Discussion )

Peter Welch: that we have no ability to amend it or do anything about it except vote yes or no. so i'm going to encourage members to vote no. if we were somehow to get 146 no votes, then we could have the

0:24:11 to 0:27:38( Edit History Discussion )
Speech By: Peter Welch

0:24:29 to 0:24:43( Edit History Discussion )

Peter Welch: debate and have the markup process that i have asked about and we could come back and next week some time and do it the right way. with that, mr. speaker, i ask unanimous consent to put my

0:24:43 to 0:24:55( Edit History Discussion )

Peter Welch: formal remarks into the record and i reserve the balance of my time. the speaker pro tempe: without objection, so ordered. the gentleman reserves the balance of his time. the gentleman from

0:24:55 to 0:25:09( Edit History Discussion )

Peter Welch: michigan is recognized. mr. dingell: i ask unanimous consent at this time that the ntleman from vermont, mr. welch, be permitted to control the remainder of the time on this side. the speaker

0:25:09 to 0:25:28( Edit History Discussion )

Peter Welch: pro tempore: without objection, so ordered. mr. welch: mr. speaker, i yield myself such time as i may consume. first i want to thank chairman dingell for his leadership on energy issues and for

0:25:28 to 0:25:40( Edit History Discussion )

Peter Welch: assisting and bringing this legislation to the floor for consideration by the full house. i want to answer a couple of questions -- observations by my friend from texas. number one, the revenues

0:25:40 to 0:25:57( Edit History Discussion )

Peter Welch: that would be generated from drilling on federal lands would go into the treasury. and there are many uses and debates that can be had about whether that money ultimately should go into

0:25:57 to 0:26:13( Edit History Discussion )

Peter Welch: alternative energy. whether it should go into liheap. those will be had in due course as part of other legislation. the question that we have before us today is whether or not taking a small

0:26:13 to 0:26:23( Edit History Discussion )

Peter Welch: step that in the past has been taken by this president bush, by his father, by president clinton that when it has been taken has proven to actually have a direct and immediate impact on

0:26:23 to 0:26:37( Edit History Discussion )

Peter Welch: lowering the price of gas at the pump. from five cents to 25 cents a gallon. all of us know we are going home every weekend and we are hearing from our constituents. it doesn't matter what district

0:26:37 to 0:26:55( Edit History Discussion )

Peter Welch: we are in. it doesn't matter what part of the country we are from. folks are really feeling burdened by these ever-escalating home energy heating bills and the cost of filling up their pickup truck

0:26:55 to 0:27:11( Edit History Discussion )

Peter Welch: and their car. basically the question for us is whether or not even as we have to proceed with long-term debates about our future energy licy, this congress is going to be willing to take a

0:27:11 to 0:27:23( Edit History Discussion )

Peter Welch: short-term step that has the potential to bring down energy prices. you know, we -- we could go out and clap, but i actually think this will be more effective. history tells us that in 235c9

0:27:23 to 0:27:38( Edit History Discussion )

Peter Welch: when we have used the -- in fact when we have used the strategic petroleum reserve as an asset belonging to the american people and suspended purchases -- incidentally this strategic petroleum

0:27:38 to 0:27:50( Edit History Discussion )

Joe Barton: reserve is nearly full. we are talking about topping it off. it's very expensive to do so now with $126 per barrel oil. that when we have done it in the past it's actually reduced that pump

0:27:38 to 0:30:37( Edit History Discussion )
Speech By: Joe Barton

0:27:50 to 0:28:01( Edit History Discussion )

Joe Barton: price. two examples of what it would mean in my small state of vermont. i talked to a trucker fm berry vermont. they have a company, it would put $300,000 in his bottom line if the price of gas went

0:28:01 to 0:28:18( Edit History Discussion )

Joe Barton: down 25 cents. a school district, in a rural area, it would be $30,000 off their bottom line if we could get the price down 25 cents. no one here is suggesting this is an answer to our energy

0:28:18 to 0:28:31( Edit History Discussion )

Joe Barton: situation. but we are suggesting and really recommendations on a bipartisan basis is that the tool that's within our reach, we should use and do all we can on a short-term basis even as we

0:28:31 to 0:28:43( Edit History Discussion )

Joe Barton: debate long-term energy policies. i reserve the balance of my time. the speaker pro tempore: the gentleman reserves the balance of his time. the gentleman from texas is recognized. mr. barton:

0:28:43 to 0:29:02( Edit History Discussion )

Joe Barton: mr. speaker, if it's possible i'd like to enter into a dialogue with any of the three sponsors of the bill, mr. markey's on the floor, mr. lampson's on the floor, and mr. welch is on the floor.

0:29:02 to 0:29:12( Edit History Discussion )

Joe Barton: i would like to ask them some questions if one of them would like to try to respond. on my time. i'm not going to use their time. mr. markey, mr. welch, or mr. lampson. mr. welch: is w the

0:29:12 to 0:29:27( Edit History Discussion )

Joe Barton: inquiry -- mr. barton: i want to ask some questions about the bill. the speaker pro tempore: i don't see the response of any of the invited participants in the dialogue. mr. barton: well,

0:29:27 to 0:29:43( Edit History Discussion )

Joe Barton: my question, mr. speaker, this is on my time, if either of those three gentlemen would like to respond, i'm not trying to be cute. i'm way too old to be cute. e bill is silent on how the funds

0:29:43 to 0:29:57( Edit History Discussion )

Joe Barton: -- the bill is silent on whether or not the money that is the equivalent cash of the royalty in kind to oil is what's done with it. my first question i'd like one of the sponsors instead of

0:29:57 to 0:30:08( Edit History Discussion )

Joe Barton: getting 62,000 barrels of oil a day, if this bill becomes law does the general treasury get the equelfyint of 62,000 barrels of oil times whatever the market price of oil that day is, which

0:30:08 to 0:30:21( Edit History Discussion )

Joe Barton: right now is over $1 to a barrel? what happens -- $120 a barrel? what happens -- is that revenue generated and does it come to the federal treasury or do the oil companies keep it? that's my

0:30:21 to 0:30:37( Edit History Discussion )

Joe Barton: first question. . would -- i'd be happen foy yield to my good friend from massachusetts, mr. marquee. -- mr. marcum. >> the money goes back to the general treasure tri-ry. >> all right.

0:30:37 to 0:30:49( Edit History Discussion )

Peter Welch: -- mr. barton: all right. me bill's effective date is on terminatn of the contracts in effect until all-31rks it runs through december 31, 2008 is that correct? >> that is c orrect, yes. mr. barton:

0:30:49 to 0:31:02( Edit History Discussion )

Peter Welch: what happens after december 31, 2008. mr. markey: at thmrat point we return to operations as they exist today. mr. barton: if this bill were to become law, does the secretary of energy or

0:31:02 to 0:31:19( Edit History Discussion )

Peter Welch: secretary of interior have any discretion about accepting royalty in kind oil or the cash equivalent, or sit a flat t suspension with no exceptions? mr. markey: it's a flat suspension. mr. barton:

0:31:19 to 0:31:33( Edit History Discussion )

i thank my good friend from massachusetts for those answers, i are reserve the balance of my time. the speaker pro tempore: the gentleman reserves. for what purpose does the gentleman

0:31:33 to 0:31:51( Edit History Discussion )

from vermont rise? mr. dingell: just in response, ns clarification for my friend from texas. my -- mr. welch: just in response, a clarification for my friend from texas, my understanding is

0:31:51 to 0:32:04( Edit History Discussion )

we can accept royalty in kind. at this ti me, i yield twotw minutes to the gentleman from massachusetts, mr. markey. the speaker pro tempore: the gentleman from massachusetts is recognized for two

0:32:04 to 0:32:21( Edit History Discussion )

minutes. mr. markey: i thank the gentleman very much and this is a an historic debate. the history is quite clear. at the point of which president bush was sworn in as president in january

0:32:21 to 0:32:40( Edit History Discussion )

Edward J. Markey: of 2001, as a renowned oil industry veteran, the price of a barrel of oil was $30. today, as we now in the eighth year -- as we are now in the eighth yr of the president's term of office,

0:32:21 to 0:35:18( Edit History Discussion )
Speech By: Edward J. Markey

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Edward J. Markey: it is $126 a barrel, a historic high. nearly a quadrupling the price of a barrel of oil. other interesting facts. on the day the president was sworn in, again, as president, $1.45 a gallon.

0:32:52 to 0:33:05( Edit History Discussion )

Edward J. Markey: the good old days, when the bush administration was sworn in to office. today, it has hit a record high of $3.72 on average for self-serve regular. that is something else that is quite dramatically

0:33:05 to 0:33:17( Edit History Discussion )

Edward J. Markey: negative in terms of the impact on american consumers. now here's what's happened over the years with the strategic petroleum reserve. back in 1991, president bush's father actually defloyd strategic

0:33:17 to 0:33:34( Edit History Discussion )

Edward J. Markey: petroleum reserve and the price of a barrel of oil dropped 33%. in 2000, president clinton deployed the strategic petroleum reserve and the price of a barrel of oil went down 18%. in fact,

0:33:34 to 0:33:46( Edit History Discussion )

Edward J. Markey: president bush himself defloyd strategic petroleum reserve in 2005 which led to a 5.6% drop in the price of a barrel of oil. now, this is an interesting u-turn the president has taken because

0:33:46 to 0:33:59( Edit History Discussion )

Edward J. Markey: what he said in 2006 was, may i have an additional minute? mr. welch: an additional 1 1/2 minutes. the speaker pro tempore: the gentleman is reck are niced for an additional 1 1/2 minutes.

0:33:59 to 0:34:10( Edit History Discussion )

Edward J. Markey: mr. markey: bhat president said in 2006 was, i've directed the department of energy to defer energy -- defer filling the strategic petroleum reserve this sum , so by deferring depozz sitz until

0:34:10 to 0:34:24( Edit History Discussion )

Edward J. Markey: fall, we'll live a little more oil in the market. now here's what the president says, as of april 29, two weeks ago in 2008. he said in many th case, i have analyzed the strategic petroleum

0:34:24 to 0:34:42( Edit History Discussion )

Edward J. Markey: reserve issue and i don't think it would affect the price. well, that's a surprising change of economic analysis by the president in just two years, and as we debate this out here on the house

0:34:42 to 0:34:53( Edit History Discussion )

Edward J. Markey: floor, he seems to find himself in the minority. because, in fact, what the president has at his disposal is the ability to be able to do something about this issue. as consumers get the

0:34:53 to 0:35:06( Edit History Discussion )

Edward J. Markey: shakedown at the pump this friday, president bush is going to meet with theshakes in saudi arabia to -- with the chics in saudi arabia to ask for more oil. while the president sent troops to

0:35:06 to 0:35:18( Edit History Discussion )

Edward J. Markey: the middle east to look for weapons of mass destruction, he's avoiding using a weapon of price reduction at home. the president said he does not have a magic wand to wave away depass price.

0:35:18 to 0:35:31( Edit History Discussion )

John Shimkus: he doe s carry a big stick. may have 30 additionaldi seconds? mr. welch: 15 additional seconds. mr. markey: here's the idea, to turn on the spigot of the strategic petroleum reserve, obama

0:35:18 to 0:39:51( Edit History Discussion )
Speech By: John Shimkus

0:35:31 to 0:35:45( Edit History Discussion )

John Shimkus: yes, clinton, yes, mccain, yes, george bush no. it is a dangerous economic position for our country to be. in the speaker pro tempore: the gentleman from texas is recognize. mr. barton: i'm

0:35:45 to 0:36:00( Edit History Discussion )

John Shimkus: going to recognize mr. shimkus, a member of the committee. before i do that, i want the record to show that the last day i was chairman of the energynd commerce committee, the price of gasoline

0:36:00 to 0:36:16( Edit History Discussion )

John Shimkus: in my district was $2 a gallon. i recognize mr. shimkus for three minutes, a member of the committee. the speaker pro tempore: the gentleman from illinois is recognized for three minutes. mr.

0:36:16 to 0:36:30( Edit History Discussion )

John Shimkus: shimkus: i ask permission to revise and extend and include therein extraneous material. the speaker pro tethmpore: without objection, so ordered. mr. shimkus: finally we get to talk about supply.

0:36:30 to 0:36:44( Edit History Discussion )

John Shimkus: for 18 months i've been comithng to the floor to talk about the importance of bringing more supply to our economy so that prices would go down. finally we have and i want to thank you for making

0:36:44 to 0:36:56( Edit History Discussion )

John Shimkus: the point. if you want to lower costs, you've got to bring in supply. $58 a barrel when your majority came into power. $58. what is it today? $126. what has it done? i'm glad my friend talked

0:36:56 to 0:37:11( Edit History Discussion )

John Shimkus: about gas prices. it wasn't george bush who promise throder gas prices. it was speaker posi in 2006, steny hoyer in 2006, jim clyburn in 2006. we have a plan to lower gas prices. that's

0:37:11 to 0:37:20( Edit History Discussion )

John Shimkus: their quote. i've said it here 20 times on this floor. we have a plan. they've got a plan, all right. it's not to lower gas prices,lo it's to raise gas prices. what happened to a gallon of gas? $2.33

0:37:20 to 0:37:36( Edit History Discussion )

John Shimkus: when this majority came in what's it today? $3.77. now my colleague from massachusetts, bring on climate change, 50 cents additional tax for gas per the chairman of the commerce committee, we would

0:37:36 to 0:38:02( Edit History Discussion )

John Shimkus: be paying $4.27 per gallon of gasms that's not the type of change we need. we need to bring on supply. i thank you for finally coming to the floor and recognizing that if we bring on just

0:38:02 to 0:38:13( Edit History Discussion )

John Shimkus: some gallons, some barrels more supply, you guys say we're going to lower prices five cents to 25 cents? let's multiply that by, let's bring on a million barrels of ls crude oil into our supply.

0:38:13 to 0:38:27( Edit History Discussion )

John Shimkus: where do we get that? we can get billions of barrels of crude oil from coil-to-liquid technologies, right in the heartland, right in southern illinois. currently, developed by the ed south

0:38:27 to 0:38:39( Edit History Discussion )

John Shimkus: african oil company. and my -- one of my personal favorites is the outer continental shelf. billions of barlse of oil on the eastern seaboard. on the western seaboard. on the eastern gulf

0:38:39 to 0:38:52( Edit History Discussion )

John Shimkus: coast. trillions of cubic feet of natural gas. what's your policy? let's don't go there oh, yeah, let's settle for a little bit of oil out of the spro. and claim great victory for lowering prices

0:38:52 to 0:39:05( Edit History Discussion )

John Shimkus: when we can have billions of barrels of oil, trillions of cubic feet of natural gas if we just went to the ter continental shelf if we just went to the eastern gull of, if we just used coal-to-li

0:39:05 to 0:39:20( Edit History Discussion )

John Shimkus: quid technology, bipartisan bill, congressman boucher and i would like to take, we are the number one coal country in the world. so let's don't settle for a half step. this is good. we

0:39:20 to 0:39:35( Edit History Discussion )

John Shimkus: can do much better. i yield back my time. the speaker pro tempore: the gentleman's time has expired. the gentleman from vermont is recognized. mr. welch: i yield two minutes to the gentleman

0:39:35 to 0:39:51( Edit History Discussion )

John Shimkus: from texas, mr. lampson. the speaker pro tthempore: the yet is recognized for two minutes. >> mr. lampson: i want to thank chairman dingell and mr. barton to make sure our strategic

0:39:51 to 0:40:05( Edit History Discussion )

Nick Lampson: petroleum reserve stays strong for when we do need it. i think if we keep cool heads and try to find common sense solutions to some of the problems we face, we'll have good solution to

0:39:51 to 0:42:59( Edit History Discussion )
Speech By: Nick Lampson

0:40:05 to 0:40:19( Edit History Discussion )

Nick Lampson: those problems. we're taking one step today, that's all. one of hopefully many, to try to curb the price of gasoline for the american consumer and invest in alternative energy research to

0:40:19 to 0:40:34( Edit History Discussion )

Nick Lampson: provide for the long-term energy solutions we're going to need. many of these things will be required for us to get the price of gasoline down to the point where we're going to be comfortable

0:40:34 to 0:40:46( Edit History Discussion )

Nick Lampson: again. let's hope we accomplish it. this bill directs the president to suspend shipments to the strategic petroleum reserve until the end of the year or until prices drop below $75 a barrel.

0:40:46 to 0:40:57( Edit History Discussion )

Nick Lampson: high oil prices are straining family budgets at the pump and they're driving up the price of groceries and other household goosmeds families are starting to rethink even summer vacations.

0:40:57 to 0:41:10( Edit History Discussion )

Nick Lampson: it's going to have a negative impact on communities that depend on summer tirism. and from the high price of gasoline and diesel, there'll be touch every family, every person, every business

0:41:10 to 0:41:24( Edit History Discussion )

Nick Lampson: and every industry in the united states and around the globe. consumers need lower prices now, not later. this bill provides a quick first step. maybe not much, but it at least is an action

0:41:24 to 0:41:40( Edit History Discussion )

Nick Lampson: on the part of the congress. when i first introduced similar legislation affecting the strategic petroleum reserve in january, gas buzz $3.11. now it's $3.73. it's gone up 11 cents in the

0:41:40 to 0:41:52( Edit History Discussion )

Nick Lampson: last week. if the president turns a blind eye to the american people we may see gasoline go to $5, $6, or $7 a gallon. the strategic petroleum reserve has been tapped and susenpended four

0:41:52 to 0:42:07( Edit History Discussion )

Nick Lampson: times by the last three presidents. mr. welch: another 30 seconds. the speaker pro tempore: the gentleman is recognized another 30 seconds. mr. lampson: suspending the spro will put an additional

0:42:07 to 0:42:20( Edit History Discussion )

Nick Lampson: 70,000 bifrlse oil on argument the market each day that could help reduce prices for us at a critical time in our economy. this was supported by a near unanimous vote in the senate this

0:42:20 to 0:42:44( Edit History Discussion )

Nick Lampson: morning. i got a letter a few minutes ago from the american trucking association saying the additional $391 million truckers have to pay for diesel cannot be handled by them for long. i'm pleased

0:42:44 to 0:42:59( Edit History Discussion )

Nick Lampson: we're taking the first step and i'm looking forward to introducing further legislation this weegik to provide relief for consumers and invest in our energy independence through research and

0:42:59 to 0:43:13( Edit History Discussion )

Joe Barton: development. i yield back. the speaker pro tempore: the gentleman from texas is recognized. mr. barton: i thank the speaker. i yield myself one minute. the speaker pro tempore: the gentleman

0:42:59 to 0:46:14( Edit History Discussion )
Speech By: Joe Barton

0:43:13 to 0:43:25( Edit History Discussion )

Joe Barton: is recognized for one minute. mr. barton: i want to comment, the goal of the legislation is to lower prices for the american consumer. at least i think that's what the goal is. having said

0:43:25 to 0:43:46( Edit History Discussion )

Joe Barton: that, 62,000 barrels a day in an 85 million barrel a day oil market is about 1/1200th of 1%. so if you assume that oil markets are linear, the additional 62,000 barrels on an 85 million barrel

0:43:46 to 0:44:01( Edit History Discussion )

Joe Barton: behr day oil market is going to lower the price perhaps two cents. . if we just go outside and clap our hands we probably have a 2 % chance of lowering the price of oil by two cents a barrel

0:44:01 to 0:44:12( Edit History Discussion )

by clapping our hands. i don't think this bill does anything except show the american people that we want to do something but we still don't know exactly what it is we can do that makes