Senate Proceeding on Jun 12th, 2008 :: 2:09:06 to 2:14:58
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2:09:06 to 2:09:21( Edit History Discussion )

Ted Stevens: their production when he opposes increasing production here in this country is just un unacceptable. now, it's the duty of congress to keep american dollars in america when we can by developing a

2:09:06 to 2:14:58( Edit History Discussion )
Speech By: Ted Stevens

2:09:21 to 2:09:40( Edit History Discussion )

Ted Stevens: very small portion, less than 2,000 acres of that 1. 1.5 million acres is all we need to develop the oil and gas re resources of the arctic plain. we could offset the entire oil imports that we

2:09:40 to 2:09:53( Edit History Discussion )

Ted Stevens: bring in from venezuela or from saudi arabia. we're -- we really think that the concept -- i was just as surprised at my friend from new york when he said the idea of developing the anwr oil is a poorly

2:09:53 to 2:10:10( Edit History Discussion )

Ted Stevens: execute ed magic trick. i don't know what's magic about it. it's just a matter of simple engineering. we can and have developed oil and gas in the arctic and we have not seen the harm that other people

2:10:10 to 2:10:21( Edit History Discussion )

Ted Stevens: have indicate ed would either come to our area or to the wildlife of our area. we have to have americans realize that it is the very fact of starting to develop this oil il that will bring down the

2:10:21 to 2:10:37( Edit History Discussion )

Ted Stevens: prices prices from foreign sources. once the foreign sources see that we're gting ready to increase our own supply, they will do what's natural. they will start reducing their price in order to

2:10:37 to 2:10:51( Edit History Discussion )

Ted Stevens: take away the incentive we have based on the current prices to open these areas in the united states. so if you want an immediate reaction from anything in terms of this current gas price problem, then have

2:10:51 to 2:11:02( Edit History Discussion )

Ted Stevens: the congress act and have the president sign a bill to start the development of the arctic plain known as anwr. if we do that, that signal to the foreign producers of oil will say america is just

2:11:02 to 2:11:15( Edit History Discussion )

Ted Stevens: getting ready to restore its own supply, and if it restores its own supply, the prices are going to come down on that foreign oil. they don't want our competition. they want our markets and so far

2:11:15 to 2:11:31( Edit History Discussion )

Ted Stevens: they're convince ed that we won't provide our own oil and since we won't provide our oil, there's no limit to what they'll charge us for oil. we have seen -- mr. president, the time -- we have seen

2:11:31 to 2:11:43( Edit History Discussion )

Ted Stevens: such a dramatic change, i can't believe it. the time the oil pipeline was approved, the price of oil was $7 $7 and $8 a barrel. it is approaching $150 a barrel now. why? because of the laws of supply

2:11:43 to 2:11:54( Edit History Discussion )

Ted Stevens: and demand. we have refused to increase our supply, our domestic supply of oil. and having done so, the price is set at world price. i remember the day there used object a posted price in san diego

2:11:54 to 2:12:05( Edit History Discussion )

Ted Stevens: or los angeles or philadelphia or in seattle or even in alaska, a posted price by refineries of how much they pay for oil. that's no longer the case. the case is now that we look to the foreign

2:12:05 to 2:12:19( Edit History Discussion )

Ted Stevens: suppliers to see what they're going to charge. and we have to pay whatever they charge. and with an increasing demand all over the world, from the developing countries such as china, there's no reason

2:12:19 to 2:12:33( Edit History Discussion )

Ted Stevens: for us not to understand what's happening. on the front page of the "wall street journal" just a week ago, there was a chart that showed the future situation with oil and gas. it showed supply almost

2:12:33 to 2:12:49( Edit History Discussion )

Ted Stevens: setting at the same level for coming years. and it showed the demand on an ever-increasing curve going up, up and up. when the price of oil started going up, i predicted on the floor of the senate

2:12:49 to 2:13:02( Edit History Discussion )

Ted Stevens: when we debate ed the anwr situation in 19 -- no, it was in 2006, that the price of oil could reach $100 a barrel. and actually there was laughter from the other side of the aisle aisle. some of my

2:13:02 to 2:13:13( Edit History Discussion )

Ted Stevens: colleagues -- democratic colleagues -- laughed and said, oh, another exaggeration of the senator from alaska. well, mr. president, it's not over $14 u7b a barrel. it is over $14 u7b a baimple it is

2:13:13 to 2:13:30( Edit History Discussion )

Ted Stevens: going to stay there until we wake up and start developing our own supply of oil. once we start developing that supply, the foreign source will know we're going to be able to bring that price down

2:13:30 to 2:13:48( Edit History Discussion )

Ted Stevens: by our supply and they will start bringing it down so we won't increase it to the point where we present a dangerous challenge to their domination in oil. i think the concept of these imports is imports

2:13:48 to 2:14:05( Edit History Discussion )

Ted Stevens: has just been totally missed. my friended friends talked about export exporting jobs. nothing has exported jocks jobs than oil abroad ablowed. 20,000 jobs for every million. we are reporting

2:14:05 to 2:14:17( Edit History Discussion )

Ted Stevens: over 12 million now a day. 12 million barrels a day is the same as, what, 24,000 jobs. that's 240,000 jobs, pardon me. when you look at this, mr. president, i think it's time for the senate to

2:14:17 to 2:14:42( Edit History Discussion )

Ted Stevens: settle down -- i do hope my friend from new york will settle down a little by the because there's no trickery in anwr. there's no trickery in exploring and developing american sources of oil. the

2:14:42 to 2:14:58( Edit History Discussion )

Ted Stevens: trickery is in terms of the prices we're paying in terms of the exages rate ex exaggerate ed prices prices by those speculating. we're buying they're speculating on the price and driving the price

2:14:58 to 2:15:09( Edit History Discussion )

Sam Brownback: up. it is time for us to get down to the fact that w must find a way to authorize exploration and development of the arctic plain known as anwr. i yield the floor.~ a senator: mr. president? the

2:14:58 to 2:20:53( Edit History Discussion )
Speech By: Sam Brownback