OFFICE OF THE MAJORITY LEADER

TRANSCRIPT

Discussing Energy Industry and Energy Policy on House Floor
July 10, 2008

... BALANCE OF HIS TIME. THE GENTLEMAN FROM MASSACHUSETTS. MR. CAPUANO: MADAM SPEAKER, I YIELD AS MUCH TIME -- ONE MINUTE, TO THE MAJORITY LEADER. THE SPEAKER PRO TEMPORE: THE GENTLEMAN FROM MARYLAND IS RECOGNIZED FOR ONE MINUTE. MR. HOYER: I THANK THE GENTLEMAN FOR YIELDING. I WAS IN MY OFFICE, AS I HAVE BEEN OVER THE DAYS RECENTLY WHERE I SEE THE DISTINGUISHED MINORITY LEADER RISE. I SEE OTHER MEMBERS ON THAT SIDE OF THE AISLE RISE, BEAT THEIR CHEST ABOUT DRILLING. MY SIDE OF THE AISLE IS FOR DRILLING. WE JUST HAD A PRESS CONFERENCE ON DRILLING. BUT AS I SIT THERE, I THINK TO MYSELF, YOU KNOW, THE AMERICAN PEOPLE GAVE THE OPPORTUNITY TO THE REPUBLICAN PARTY, THE MINORITY PARTY NOW IN THE HOUSE OF REPRESENTATIVES TO LEAD THIS COUNTRY AND THEY GAVE THEM ALL OF THE POWER IN WASHINGTON. THEY GAVE THEM THE RESPECT SI, HOUSE OF REPRESENTATIVES AND UNITED STATES SENATE. THEY DID THAT IN THE YEAR 2000. THEY HAD ALREADY GIVEN THEM THE HOUSE. AND TWO OIL MEN WERE ELECTED PRESIDENT AND VICE PRESIDENT. AND IN JANUARY. THE VICE PRESIDENT DECIDED TO HAVE AND HE HAD OVER THE COMING MONTHS IN 2001, HE CONVENED A MEETING, A SECRET MEETING OF THOSE INVOLVED IN THE ENERGY INDUSTRY, TO ADOPT ENERGY POLICIES. IN THAT MEETING, THE MINORITY LEADER IS NOW LEAVING, I'M SORRY, BUT WE'LL SEE HIM LATE IR-- THAT MEETING PERHAPS RESULTED IN SUCCESS, I DON'T KNOW. I DON'T KNOW WHAT THE MEETING WAS ABOUT. BUT DURING THE COURSE OF THE PRESIDENCY OF BILL CLINTON, OIL WENT FROM $1.06 TO $1.46, FIVE CENTS PER YEAR WAS THE INCREASE IN THE COST OF GASOLINE AT THE PUMP FOR AMERICANS. AND THEN PRESIDENT BUSH, VICE PRESIDENT CHENEY, THE REPUBLICANS CAME TO TOWN, ALL OF TOWN. AND GAS WENT FROM $1.46 IN JANUARY 20 OF 2001 TO OVER $4.10 ON AVERAGE THROUGHOUT THIS COUNTRY. PRETTY STARK. AND NOW IT GOES UP FROM TIME TO TIME FROM FIVE CENTS A DAY, WHERE UNDER BILL CLINTON, FIVE CENTS A YEAR. AND THEN THE REPUBLICANS FIVE YEARS LATER, ADOPTED A BILL, 2005, THEIR ENERGY POLICY. THEY WERE IN CONTROL OF THE HOUSE, CONTROL OF THE SENATE AND HAD THE PRESIDENCY. THEY PASSED THAT BILL. GAS WAS THEN ABOUT $2.20. AND THEY SAID, WE HAVE ADOPTED AN ENERGY POLICY. SAID IT ON THE FLOOR, SAID IT WHEN THEY SIGNED THE BILL. WE'VE DONE A BILL NOW THAT'S GOING TO STABLE IDSE PRICES AND GOING TO MAKE SURE THAT AMERICANS HAVE ENERGY SUPPLY. THAT'S WHAT THEY SAID, NOT WHAT WE SAID. . LADIES AND GENTLEMEN, HAD WHO ARE LISTENING TO THE DEBATE ON THIS FLOOR, I TELL YOU THAT THERE ARE 68 MILLION ACRES RIGHT NOW, RIGHT NOW AVAILABLE FOR LEASING. YOU RING YOUR HANDS AND SAY, WELL, OPEN UP PLACES FOR DRILLING. WE'VE DONE THAT, FRIENDS. LOOK AT THE STATISTICS. 68 MILLION ACRES IN THE LOWER 48. AND ANOTHER 20 MILLION ACRES GIVE OR TAKE A MILLION IN ALASKA. THEY TALK ABOUT A WILDLIFE REFUGE THAT THEY WANT TO DRILL IN. BUT THEY DON'T TALK ABOUT THE 20 MILLION ACRES IN THE NATIONAL PETROLEUM RESERVE AREA IN ALASKA. CURRENTLY AVAILABLE. THE ADMINISTRATION COULD BE PURSUING LEASES ON IT. WE MAY WELL HAVE LEGISLATION SAY, ADMINISTRATION, START MOVING. START DRILLING. START BRINGING PRODUCT TO THE MARKET. SO WE'LL BRING PRICES DOWN. NOW, OF COURSE, ONE OF THE ASPECTS OF BRINGING PRICES DOWN, MY FRIENDS, WILL BE THAT THE OIL COMPANIES WILL MAKE LESS PROFITS. NOW, I KNOW EVERYBODY IN AMERICA BELIEVES THAT THE OIL COMPANIES WANT TO GET MORE PRODUCT SO THEY CAN BRING PRICES DOWN AND MAKE LESS PROFITS. I KNOW ALL AMERICANS BELIEVE THAT'S THE WAY THE SYSTEM WORKS. THE REPUBLICANS KEEP HARPING ON DRILLING. WE WANT TO DRILL. WE WANT TO PRODUCE MORE AMERICAN PRODUCT AND BY THE WAY WE'RE GOING TO BRING LEGISLATION TO THE FLOOR THAT'S GOING TO SAY, WHEN YOU DRILL, SELL IT HERE IN THE UNITED STATES OF AMERICA. KEEP OUR RESOURCES HERE IN THE UNITED STATES OF AMERICA. SO I WANT TO TELL MY FRIENDS THERE ARE 88 MILLION ACRES. ...