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House Proceeding 07-14-08 on Jul 14th, 2008 :: 0:08:53 to 0:13:09
Total video length: 45 minutes Stream Tools: Stream Overview | Edit Time

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Walter B. Jones

0:08:53 to 0:09:01( Edit History Discussion )

Walter B. Jones: weekend to strengthen them. [inaudible] if >> we need to hear from the oil companies. if there has been a hue and cry from washington for two weeks, saying you have 68 million acres, tell us why you'

Walter B. Jones

0:08:53 to 0:13:09( Edit History Discussion )
Speech By: Walter B. Jones

Walter B. Jones

0:09:01 to 0:09:11( Edit History Discussion )

Walter B. Jones: re not doing there. you accepted the least, the most of that potential. some of them are very rich in potential. we need to hear from them. they have been very silent during all of this. >> when will be a

Walter B. Jones

0:09:11 to 0:09:20( Edit History Discussion )

Walter B. Jones: vote on the speculation bill? >> if it is bipartisan, it will be quickly. otherwise, it takes time. unless we get cooperation from the republicans, then we will do it this week. [inaudible] >> i

Walter B. Jones

0:09:20 to 0:09:29( Edit History Discussion )

Walter B. Jones: made it very clear that we need to focus on issues specific matters to address this problem. the republicans have in their bill, i repeat, something on speculation. we believe there are problems with speculation.

Walter B. Jones

0:09:29 to 0:09:37( Edit History Discussion )

Walter B. Jones: why do we not work together on this? there are all kinds of high diaz of drilling all of the board. right now, i do not think it benefits our country at all to do something that we do not was head

Walter B. Jones

0:09:37 to 0:09:48( Edit History Discussion )

Walter B. Jones: of the school district, i think i will buy gas right now. if i was running a transportation apart and in colorado and i am thinking about this winter time, i would say the way castling is a going

Walter B. Jones

0:09:48 to 0:09:56( Edit History Discussion )

Walter B. Jones: at this price, i think i will fill up my tanks, all of my storage tanks. i am sure there are a lot of local and commenced throughout this country, including big businesses that have lots of transportation

Walter B. Jones

0:09:56 to 0:10:04( Edit History Discussion )

Walter B. Jones: days. you will want to fill up their tanks. the only way we are going to erode that expectation of higher cost is to increase supply. and then went the american people begin to understand that we will

Walter B. Jones

0:10:04 to 0:10:16( Edit History Discussion )

Walter B. Jones: have adequate supplies and the price of gasoline will be down, then that problem i think will go away on its own. so there is little doubt in my mind that allowing the sea exploration can and will

Walter B. Jones

0:10:16 to 0:10:24( Edit History Discussion )

Walter B. Jones: result in a positive effect for consumers. i want to applaud the president for taking the action he did. it is one step closer to energy independence. i think it is a good step. now congress needs

Walter B. Jones

0:10:24 to 0:10:32( Edit History Discussion )

Walter B. Jones: to end their moratorium so that they continually put on the appropriation bills. the senator talk about that issue. date -- that will help ease the pain americans are feeling at the pump. i know for a fact

Walter B. Jones

0:10:32 to 0:10:46( Edit History Discussion )

Walter B. Jones: that moratoriums are being discussed by no it is being discussed over here. we cannot rely just on renewals. the real problem is supply. the burden lies on congress to make sure that we can assess

Walter B. Jones

0:10:46 to 0:10:55( Edit History Discussion )

Walter B. Jones: the 17.8 billion barrels and natural gas that are currently off limits. i think the center is right. we do not know for sure how much is out there. those are estimates. we have a little bit of

Walter B. Jones

0:10:55 to 0:11:09( Edit History Discussion )

Walter B. Jones: the idea of what is available in oil shale. there is two trillion barrels in the ground. there is between 800,000,000,001 trillion can be taken out of the ground with today' s technology. there is

Walter B. Jones

0:11:09 to 0:11:27( Edit History Discussion )

Walter B. Jones: a similar amount opt in anwr. when you consider how much we have, in oil shale in colorado, it makes saudi arabia' s while supplies seem small. we have lots of resources here. we should not take any

Walter B. Jones

0:11:27 to 0:11:41( Edit History Discussion )

Walter B. Jones: of them off the table. we need to push forward with a broad solution such as the gas price reduction pact that was introduced. thank you. >> they want us to work together across party lines to get

Walter B. Jones

0:11:41 to 0:11:52( Edit History Discussion )

Walter B. Jones: results. it the democratic leader comes forward with have a solution company i think that will be rejected by the american people. i do not believe members of the democratic caucus will agree. i think

Walter B. Jones

0:11:52 to 0:12:07( Edit History Discussion )

Walter B. Jones: there are democratic and republican senators who want a result. i know we do. we do not want just a republican bill. we believe our proposal, slim down as can turn democratic support and there

Walter B. Jones

0:12:07 to 0:12:17( Edit History Discussion )

Walter B. Jones: are signs said it will. >> let me say something here. my good friend the chairman is using have a solution figure to flee. there are two parts. it is not have a solution in terms of substance. the

Walter B. Jones

0:12:17 to 0:12:28( Edit History Discussion )

Walter B. Jones: speculation is not happy solution compared opening up the offshore to the fighting of all of the oil and gas that my fear. it is 10-100 that ratio. -- is 10-1. let me make another point. i will ask of

Walter B. Jones

0:12:28 to 0:12:37( Edit History Discussion )

Walter B. Jones: you. there is all of that leased land around the shores, around the coast of the united states set the oil companies are not using. we are going to put in our bill, says harry reid, they use it or

Walter B. Jones

0:12:37 to 0:12:46( Edit History Discussion )

Walter B. Jones: lose it. let me say to him and to you, it might come as a shock come not -- might come as a shock, we already have a use it or lose it law. every well company or consortium that has a lease on public

Walter B. Jones

0:12:46 to 0:12:59( Edit History Discussion )

Walter B. Jones: land off shore has a lease document that gives them a buy, can eight, or can hear police. it says you will be producing by the time of the lease expiration pretty expiration are you off. that is the

Walter B. Jones

0:12:59 to 0:13:09( Edit History Discussion )

Walter B. Jones: current law. and so if you have a 10-year lease, you could be at various stages of development. you can the researching it. there could be underground cracking. you could be taking pictures. you

David Scott

0:13:09 to 0:13:23( Edit History Discussion )

David Scott: could be complying. you could be doing any of those things moving up to the 10th year of a 10 year days to decide whether it is good enough to drill, and you might say it is not good enough. let' s

David Scott

0:13:09 to 0:18:35( Edit History Discussion )
Speech By: David Scott

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