Metavid

Video archive of the US Congress

House Proceeding 05-13-08 on May 13th, 2008 :: 0:32:21 to 0:35:18
Total video length: 1 hours 58 minutes Stream Tools: Stream Overview | Edit Time

Note: MetaVid video transcripts may contain inaccuracies, help us build a more perfect archive

Download OptionsEmbed Video

Views:359 Duration: 0:02:57 Discussion

Previous speech: Next speech:

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

Edward J. Markey

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,

Edward J. Markey

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

Edward J. Markey

0:32:40 to 0:32:52( Edit History Discussion )

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.

Edward J. Markey

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

Edward J. Markey

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

Edward J. Markey

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,

Edward J. Markey

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

Edward J. Markey

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.

Edward J. Markey

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

Edward J. Markey

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

Edward J. Markey

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

Edward J. Markey

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

Edward J. Markey

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

Edward J. Markey

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.

John Shimkus

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

John Shimkus

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

Personal tools

MetaVid is a non-profit project of UC Santa Cruz and the Sunlight Foundation. Learn more About MetaVid

The C-SPAN logo and other servicemarks that may be found in video content are the property of their respective trademark holders. None of these trademark holders are affiliated with Metavid