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Senate Proceeding on May 8th, 2008 :: 0:06:48 to 0:10:11
Total video length: 8 hours 11 minutes Stream Tools: Stream Overview | Edit Time

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Mitch McConnell

0:03:30 to 0:06:48( Edit History Discussion )
Speech By: Mitch McConnell

Mitch McConnell

0:06:36 to 0:06:48( Edit History Discussion )

Mitch McConnell: in leader team in the absence of senator reid. the presiding officer: without objection, so ordered. mr. durbin: thank you, mr. president. senator reid could not be here and asked me to come to the floor

Richard Durbin

0:06:48 to 0:07:00( Edit History Discussion )

Richard Durbin: if a response was necessary and a response is necessary. there are two fundamental different approaches for america's energy future between the democratic side and the republican side. the democratic

Richard Durbin

0:06:48 to 0:10:11( Edit History Discussion )
Speech By: Richard Durbin

Richard Durbin

0:07:00 to 0:07:13( Edit History Discussion )

Richard Durbin: side believes that, first, we have to do everything we can to protect the consumers of america from price gouging. we know what is happening. you cannot go to illinois, arkansas, kentucky, or colorado and not

Richard Durbin

0:07:13 to 0:07:25( Edit History Discussion )

Richard Durbin: run into people saying that they can't understand why gasoline prices are so high. we know that the price of a barrel of oil has gone up to record high levels because of high manipulation by the saudis,

Richard Durbin

0:07:25 to 0:07:36( Edit History Discussion )

Richard Durbin: opec and other countries. the republic approach to this totally ignores that. we know the oil companies across the united states, last week, reported record profits in the first quarter of this

Richard Durbin

0:07:36 to 0:07:49( Edit History Discussion )

Richard Durbin: year. since president bush came to office, the profits of the oil companies have more than quadrupled and the price of gasoline has more than doubled. does the republican approach even address this?

Richard Durbin

0:07:49 to 0:08:02( Edit History Discussion )

Richard Durbin: the answer is "no." we have, in the democratic approach, a windfall profit tax that says to the oil companies this is a limit beyond which you cannot go in gouging consumers and overcharging them for

Richard Durbin

0:08:02 to 0:08:14( Edit History Discussion )

Richard Durbin: your products. as airlines are faced into bankruptcy, as truckers cannot afford to fill their rigs on the highways, as the cost of energy is passed on to us in higher feud prices and the like, it

Richard Durbin

0:08:14 to 0:08:26( Edit History Discussion )

Richard Durbin: is absolutely unconscionable that the oil companies continue to show record profits, quarter after quarter, year after year, at the expense of our economy. the democrat approach deals with that.

Richard Durbin

0:08:26 to 0:08:38( Edit History Discussion )

Richard Durbin: we go to the fundamentals: the windfall profit tax says there's a limit to what you can take. beyond that, the government is going to tax you and make it clear that raising prices is not the answer.

Richard Durbin

0:08:38 to 0:08:51( Edit History Discussion )

Richard Durbin: second, we're going to stop putting more oil at high prices into the strategic petroleum reserve. if there was ever a time when we should not be taking oil off the market, this is that time. we also

Richard Durbin

0:08:51 to 0:09:03( Edit History Discussion )

Richard Durbin: provide in our bill for going after this opec coalition, the price fixing going on at the expense of the american economy. we deal with price gouging to make sure the companies that engage in it

Richard Durbin

0:09:03 to 0:09:15( Edit History Discussion )

Richard Durbin: know they will pay a heavy price for that kind of conduct. we go after speculation, if it is excessive, to try to make sure we fuel any fires of speculation that mate be adding- that might be adding

Richard Durbin

0:09:15 to 0:09:32( Edit History Discussion )

Richard Durbin: to the cost of energy. what do the republicans offer in return? drill, drilling, drilling. they don't understand one fundamental fact: the united states has within its grasp in our territory and

Richard Durbin

0:09:32 to 0:09:44( Edit History Discussion )

Richard Durbin: territory we control only 3% of the world's supply of oil. 3% -- each year we consume 25% or more of oil products. we cannot drill our way out of this situation. we have to stop price gouging on

Richard Durbin

0:09:44 to 0:09:54( Edit History Discussion )

Richard Durbin: consumers. we have to hold oil companies accountable. i think the republican approach does neither. i'm looking forward to this debate. i assume by early next week we will have a vote and the american

Richard Durbin

0:09:54 to 0:10:11( Edit History Discussion )

Richard Durbin: people will see where we stand. i yield the floor. the presiding officer: the senator from colorado. mr. allard: it is with great pleasure and pride that i rise to recognize and welcome guest chaplain

Wayne Allard

0:10:11 to 0:10:25( Edit History Discussion )

Wayne Allard: for the u.s. senate today, pastor brian severin, the pastor of victory christian fellowship church in greeley, colorado, served full-time ministry for 23 years and born and raised in northeast colorado

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