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House Proceeding on Jun 5th, 2008 :: 0:23:13 to 0:27:27
Total video length: 5 hours 21 minutes Stream Tools: Stream Overview | Edit Time

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John Hall

0:19:06 to 0:23:13( Edit History Discussion )
Speech By: John Hall

John Hall

0:23:02 to 0:23:13( Edit History Discussion )

John Hall: of life and small businesses need to move their products, the record-setting spikes in gas price vs. been a drain on family budgets and our entire economy. there is, unfortunately, no n

Patrick T. McHenry

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

Patrick T. McHenry: silver bullet solution to our gas and oil challenge. but i am proud that congress has taken aggressive action to provide desperately needed relief. we have passed a once in a generation increase

Patrick T. McHenry

0:23:13 to 0:27:27( Edit History Discussion )
Speech By: Patrick T. McHenry

Patrick T. McHenry

0:23:26 to 0:23:38( Edit History Discussion )

Patrick T. McHenry: in fuel economy standards, pushed for more development of cellulosic biofuels, and continued to advance legislation that would provide tax incentives for people to purchase fuel incentive

Patrick T. McHenry

0:23:38 to 0:23:52( Edit History Discussion )

Patrick T. McHenry: vehicles and help us break the grip of opec on our economy. the need for relief is real and urgent and we have also taken steps to provide near-term assistance. the house has passed a bill

Patrick T. McHenry

0:23:52 to 0:24:06( Edit History Discussion )

Patrick T. McHenry: to beef up the department of justice's ability to pursue antitrust action in the oil sector. and we have also passed legislation that requires the president to stop taking oil off the market and

Patrick T. McHenry

0:24:06 to 0:24:21( Edit History Discussion )

Patrick T. McHenry: to put in the strategic petroleum reserve so that more supply is available on the market to lower prices. that was 70,000 barrels of oil a day that was being taken off the market that we passed

Patrick T. McHenry

0:24:21 to 0:24:34( Edit History Discussion )

Patrick T. McHenry: in a bipartisan way, you remember, i'm sure my friends across the aisle, remember shot voting with us on the bill. when market relief does arrive, however, we need to make sure that the individual

Patrick T. McHenry

0:24:34 to 0:24:51( Edit History Discussion )

Patrick T. McHenry: american driver benefits not just the oil companies. there is an old proverbial question about whether a tree falling in the woods with no one to hear it actually makes a sound. i don't know

Patrick T. McHenry

0:24:51 to 0:25:04( Edit History Discussion )

Patrick T. McHenry: about that, but i do know a drop in oil prices that doesn't cut prices at the pump is the same as no price drop at all. unfortunately that's what we have been seeing. over the past

Patrick T. McHenry

0:25:04 to 0:25:12( Edit History Discussion )

Patrick T. McHenry: few days of price of crude oil, actually over the past week the price of crude oil has dropped by several dollars per barrel, offering the hope that the edge would be taken off the record high

Patrick T. McHenry

0:25:12 to 0:25:27( Edit History Discussion )

Patrick T. McHenry: gas prices we have been facing. one look at the local price figures at your gas station is enough to know it has not happened. on april 1, the price of crude oil was just over $100 per barrel.

Patrick T. McHenry

0:25:27 to 0:25:44( Edit History Discussion )

Patrick T. McHenry: and kept soaring, reaching $135 per barrel during trading on may 22. over the same period of time the national average price of gasoline rose from just under $3.29 to just over $3.80 per gallon.

Patrick T. McHenry

0:25:44 to 0:25:59( Edit History Discussion )

Patrick T. McHenry: in new york prices increased by over 60 cents from just over $3.40 to almost $4.02 a gallon. but despite the fact that as of two days ago crude prices had dropped below $123 per barrel,

Patrick T. McHenry

0:25:59 to 0:26:14( Edit History Discussion )

Patrick T. McHenry: retail gasoline prices are still at record levels. nationwide the average price of regular gasoline stayed at $3.98 and in new york the average price remained at the astronomical level of $4.17

Patrick T. McHenry

0:26:14 to 0:26:24( Edit History Discussion )

Patrick T. McHenry: per gallon. these represent increases of about 15 cents per gallon at the pump during the same period in which crude oil -- mr. arcuri: an additional minute. the speaker pro tempore: the

Patrick T. McHenry

0:26:24 to 0:26:41( Edit History Discussion )

Patrick T. McHenry: gentleman is recognized for an additional minute. mr. hall: the old adage what goes up must come down does not apply for the oil companies. that is the cause for great concern and i have

Patrick T. McHenry

0:26:41 to 0:26:54( Edit History Discussion )

Patrick T. McHenry: asked the federal trade commission and the consumer product commodities exchange commission to investigate this disconnection between the price of oil on the world market and the price of refined

Patrick T. McHenry

0:26:54 to 0:27:07( Edit History Discussion )

Patrick T. McHenry: product at the pump. drivers are expected to share, in fact are forced to share in the pain of oil and gas increases immediately, and they should also share in the decrease just as immediately

Patrick T. McHenry

0:27:07 to 0:27:16( Edit History Discussion )

Patrick T. McHenry: when the price comes down. it is the government to be an active protector of consumer rights and make sure conditions are not exploited to the detriment of working families. i believe we can

Patrick T. McHenry

0:27:16 to 0:27:27( Edit History Discussion )

Patrick T. McHenry: make sure any drop in crude price also also mean real relief at the pump. i yield back. the speaker pro tempore: the gentleman yields back the balance of his time. the gentleman from washington.

Michael Arcuri

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

Michael Arcuri: mr. hastings: thank you, mr. speaker. mr. speaker, i'm pleased to yield four minutes to the gentleman from north carolina, mr. mchenry. the speaker pro tempore: the gentleman from north

Michael Arcuri

0:27:27 to 0:29:16( Edit History Discussion )
Speech By: Michael Arcuri

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