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Video archive of the US Congress

Senate Proceeding on May 8th, 2008 :: 3:21:20 to 3:44:31
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Byron Dorgan

3:19:31 to 3:21:20( Edit History Discussion )
Speech By: Byron Dorgan

Byron Dorgan

3:21:02 to 3:21:20( Edit History Discussion )

Byron Dorgan: oil. they buy oil and sell it. they never take possession. they're making money on both sides of the transaction because they're wagering, they're gambling. that is speculating and we have an orgy of speculation

Amy Klobuchar

3:21:20 to 3:21:33( Edit History Discussion )

Amy Klobuchar: on the futures market. we have people that testified that it ad 20 to $30 a barrel to a barrel of oil. should we sit back and watch a bubble develop and say, whatever the consequences, that's fine?

Amy Klobuchar

3:21:20 to 3:44:31( Edit History Discussion )
Speech By: Amy Klobuchar

Amy Klobuchar

3:21:33 to 3:21:52( Edit History Discussion )

Amy Klobuchar: the answer is, no, of course we should not. buy stock on margin, it will cost you a 50% margin requirement. you want to buy oil on margin, you pay 5% to 7%, we have investment banks neck deep in

Amy Klobuchar

3:21:52 to 3:22:07( Edit History Discussion )

Amy Klobuchar: the futures mark. why? because they're oil experts, do they want to own oil? no, no, they want to speculate on oil and make money. but the fact is that it is damaging this country's economy. we ought

Amy Klobuchar

3:22:07 to 3:22:20( Edit History Discussion )

Amy Klobuchar: to ring that -- wring that out of the commodity markets. we should increase margin requirements. it shard to do, but we ought to do that. we ought to when we see this kind of speculation damaging

Amy Klobuchar

3:22:20 to 3:22:30( Edit History Discussion )

Amy Klobuchar: our country by driving up oil prices and driving up gasoline prices, we ought to do something about it. second, we are now putting oil underground right now we're taking sweet, light crude oil off the

Amy Klobuchar

3:22:30 to 3:22:41( Edit History Discussion )

Amy Klobuchar: gulf of mexico and sticking it underground in something called the called the strategic petroleum reserve. i think that is fine. if we run into trouble, it is nice to have oil underground. our reserve

Amy Klobuchar

3:22:41 to 3:22:54( Edit History Discussion )

Amy Klobuchar: is 09% if you this administration is taking nearly 70,000 barrels a day, every single day and sticking it underground. they say, well, it doesn't affect the price. of course it affects the price. we've

Amy Klobuchar

3:22:54 to 3:23:10( Edit History Discussion )

Amy Klobuchar: had testimony before the energy committee that because it's a much more valuable subset of oil, called sweet, light crude it has as much as a 10% impact on the price of oil and gasoline. of course

Amy Klobuchar

3:23:10 to 3:23:22( Edit History Discussion )

Amy Klobuchar: it affects the price. i mean, i think it is just nuts for this country to be taking taking $124-barrel of oil and say, you know what let's do? let's stick it underground and save it for a rainy day. well,

Amy Klobuchar

3:23:22 to 3:23:33( Edit History Discussion )

Amy Klobuchar: i'll tell you what. it is a rainy day these that's what i you have to pay this price at the pump. it's a rainy day these days when you see four or five airlines go belly up because they can't afford

Amy Klobuchar

3:23:33 to 3:23:40( Edit History Discussion )

Amy Klobuchar: the fuel. it's a rainy day in this country when truckers call and say we're going to have to park the truck because we can't afford the fuel. ab an entire industry at risk. the fact is we need to

Amy Klobuchar

3:23:40 to 3:23:50( Edit History Discussion )

Amy Klobuchar: do something about it. i mentioned two things. both of which are tangible and real and both of which are causing this increase at leasting a significant part in my judgment of the increase in the

Amy Klobuchar

3:23:50 to 3:24:03( Edit History Discussion )

Amy Klobuchar: ramup of the price -- ramp up of oil and the price of gasoline. you kn ow, the president says, well, not much anybody can do. this is not a time to wring our hands and mop our brow and nash our teeth

Amy Klobuchar

3:24:03 to 3:24:15( Edit History Discussion )

Amy Klobuchar: and say there is not much anybody can do. this is a time to look at what is happening and try to respond to it. it is doing great damage to the economy. i swrund stand in the longer -- i understand

Amy Klobuchar

3:24:15 to 3:24:28( Edit History Discussion )

Amy Klobuchar: the longer term the things that we need to do. we're unbelievably dependent on overseas oil and saudi arabia and venezuela. we stick straws in this planet and suck oil out of the planet. every day

Amy Klobuchar

3:24:28 to 3:24:41( Edit History Discussion )

Amy Klobuchar: we suck out 85 billion barrels of oil. one fourth of that has to be used in this country. the appetite for oil is this. one fourth of all of the oil we pull out of the planet is used in this little

Amy Klobuchar

3:24:41 to 3:24:53( Edit History Discussion )

Amy Klobuchar: place called the united states of america. 60% of it we get outside of the country. 70% we use in vehicles. we've got a lot to do. we mandated an increase of 10 miles per gallon on a vehicle. we had

Amy Klobuchar

3:24:53 to 3:25:05( Edit History Discussion )

Amy Klobuchar: the law changed to allow us to go into 81 in the gulf of mexico to produce more oil and natural gas. frankly, we ought to open up more of the gulf ofexico that. is the greatest potential reserve

Amy Klobuchar

3:25:05 to 3:25:17( Edit History Discussion )

Amy Klobuchar: on the outer continental reserve. if you look at the gulf of mexico and california and the west coast, the greater potential reserves is in the gulf of mexico. i and three others introduced the legislation,

Amy Klobuchar

3:25:17 to 3:25:31( Edit History Discussion )

Amy Klobuchar: got it passed and opened up a portion of lease 181. we need to produce more, conserve more,. the presiding officer: dues more and we need to move into renewables. i understand that we have to do all of

Amy Klobuchar

3:25:31 to 3:25:43( Edit History Discussion )

Amy Klobuchar: that. but at the moment in the short run we've got to take specific steps that will put downward pressure again on pressures. john maynard said in the long run we're all dead. we can talk about the long

Amy Klobuchar

3:25:43 to 3:25:55( Edit History Discussion )

Amy Klobuchar: run. but in the short run what can we do that most americans understand is a very serious problem? that is the price of gasoline. and i'm just saying this, and there are those that disagree with me. you

Amy Klobuchar

3:25:55 to 3:26:08( Edit History Discussion )

Amy Klobuchar: look at the commodities market and you look at this orgy of speculation, and look at building of a bubble. wouldn't it be nice if someone looked at the bubble as it is built with respect to home mortgages

Amy Klobuchar

3:26:08 to 3:26:16( Edit History Discussion )

Amy Klobuchar: an home prices. we've seen a lot of bubbles, the tech bubble, the bubble in home prices, every bubble bursts, this one will. but in the mean time how many additional casualties on the side of the

Amy Klobuchar

3:26:16 to 3:26:24( Edit History Discussion )

Amy Klobuchar: road of american families, american businesses, american industries? how many casualties. the big integrated oil companies go to the get perma-grin. it is not just the major integrated oil companies,

Amy Klobuchar

3:26:24 to 3:26:36( Edit History Discussion )

Amy Klobuchar: it is the opec countries, they're going to the bank every day with our money because we're recycling this money to provide for a bank account for the suddennies and others and the other -- saudis an

Amy Klobuchar

3:26:36 to 3:26:46( Edit History Discussion )

Amy Klobuchar: others and -- and others and other major integrated countries. there is no justification for this price and this congress is readto act. senator reid and others have joined together. i'm a part of it to

Amy Klobuchar

3:26:46 to 3:26:59( Edit History Discussion )

Amy Klobuchar: deal with this issue of putting oil underground, stopping that in its track, ending spro. i introduced that bill a couple of month now. i think that our entire caucus is behind the proposition to

Amy Klobuchar

3:26:59 to 3:27:12( Edit History Discussion )

Amy Klobuchar: say let's ringhe speculation out of the futures market and sop the -- stop the insidious rise of the oil prices. we need to find more oil and use less to the extent that we can. it means more conservation

Amy Klobuchar

3:27:12 to 3:27:23( Edit History Discussion )

Amy Klobuchar: and production. in the mean time when markets don't work and people are doing things that have no common sense at all such as putting oil underground when it is $124 a barrel. this congress has a responsibility

Amy Klobuchar

3:27:23 to 3:27:36( Edit History Discussion )

Amy Klobuchar: to act and say, let's get things right. let's stand up on the side of the american driver, on the side of american business that's need this energy.~ you kw, one final poinl. the "wall street jthournal"

Amy Klobuchar

3:27:36 to 3:27:49( Edit History Discussion )

Amy Klobuchar: -- i guess it was this morning, maybe yesterday morning -- wrote one of those editorials that must make those folks grin like chess ire cats as they sit with their gray suits on with their horn-rimmed

Amy Klobuchar

3:27:49 to 3:28:01( Edit History Discussion )

Amy Klobuchar: glasses as they try to think about what they're going to write about the united states senate. and they said, did you see what dorgan and the united states senate did? the saudis want to buy from us

Amy Klobuchar

3:28:01 to 3:28:16( Edit History Discussion )

Amy Klobuchar: precision weapons from their own security. and we should say to them well, maybe then you need to be producing more oivment and, of course, the "wall street journal" had an apoplectic seizure over

Amy Klobuchar

3:28:16 to 3:28:29( Edit History Discussion )

Amy Klobuchar: that. well,. here are the -- well, here are the points. the saudis are producing 800,000 barrels a day less than they did two years ago. just two years ago. its not lost on them what this is doing

Amy Klobuchar

3:28:29 to 3:28:39( Edit History Discussion )

Amy Klobuchar: to price. it's not lost on them, or it shouldn't be, what this is doing to our country. they're pumping 800,000 barrels a day less than they did two years ago. and then they say to this administration,

Amy Klobuchar

3:28:39 to 3:28:52( Edit History Discussion )

Amy Klobuchar: well, we -- we'd like to buy precision and sophisticated weapons from the united states because we -- we have our strategic military concerns in our region. so maybe we say to the saudis, do you know

Amy Klobuchar

3:28:52 to 3:29:06( Edit History Discussion )

Amy Klobuchar: what? we have strategic concerns in our country as well. why are you pumping 800,000 barrels a day less? maybe if there's a partnership here, partnerships work both ways. i'm very concerned about arming

Amy Klobuchar

3:29:06 to 3:29:21( Edit History Discussion )

Amy Klobuchar: the middle east.mi i'm going to come and speak about that at some point later. but our point to the saudis and our point in the middle east was if you're pumping 800,000 barrel a day less and then sayg,

Amy Klobuchar

3:29:21 to 3:29:33( Edit History Discussion )

Amy Klobuchar: oh, by the way, let us buy what we need from you. our point is to say, let us buy what we need from you as well. so that's a long statement to say it's time for us to act. senator reid, i and many

Amy Klobuchar

3:29:33 to 3:29:51( Edit History Discussion )

Amy Klobuchar: others, senator klobuchar, all of us together have decided we're not going to sit here like potted plants. when something's happening in the futures market, when something is happening to take oil off

Amy Klobuchar

3:29:51 to 3:30:01( Edit History Discussion )

Amy Klobuchar: the supply and put it underground, then we have a responsibility to act. and i intend to be a significant part of that. if we have the markup this afternoon, i will intend to offer a couple of amendments

Amy Klobuchar

3:30:01 to 3:30:15( Edit History Discussion )

Amy Klobuchar: at that appropriations markup. i understand it may wbl canceled this afternoon. -- it may well be cans they would afternoon. a senator: would the senator yield? mr. dorgan: i would be happy to yield.

Amy Klobuchar

3:30:15 to 3:30:30( Edit History Discussion )

Amy Klobuchar: ms. klobuchar: first i wanted to thank senator dorgan dorgan for his leadership in this area. he was ahead of his time. he's been predicting what would happen. he's been very proactive about this.

Amy Klobuchar

3:30:30 to 3:30:40( Edit History Discussion )

Amy Klobuchar: but can you talk about this strategic reserve, which i know the petroleum reserve, there's some bipartisan support for doing this. is that correct? for stopping putting oil in there? mr. dorgan:

Amy Klobuchar

3:30:40 to 3:30:58( Edit History Discussion )

Amy Klobuchar: well, it is the case. i've introduced legislation here in the senate, 51 democratic senators, including senator obama and senator clinton, signed the letter to the president saying stopping sticking oil

Amy Klobuchar

3:30:58 to 3:31:10( Edit History Discussion )

Amy Klobuchar: underground. and then a cowl of weeks ago -- a couple of weeks ago, a republican colleague, senator hutchison, sent a letter to the white house saying we agree that you ought to stop sticking oil

Amy Klobuchar

3:31:10 to 3:31:24( Edit History Discussion )

Amy Klobuchar: underground. so i think thrrp 15 of them -- there were 15 of them, 14 or 15 of them. and senator mccain said out on the campaign trail, stop sticking oil underground. when you add that up, that's 67 people

Amy Klobuchar

3:31:24 to 3:31:35( Edit History Discussion )

Amy Klobuchar: in the united states senate. that's a veto-proof majority. ms. klobuchar: h much is it projected to save? isn't there some immediate impact we might see that's projected with savings per gallon? mr. dorgan:

Amy Klobuchar

3:31:35 to 3:31:50( Edit History Discussion )

Amy Klobuchar: sure, i mean, we don't know exactly what the savings will be. we do know this. if today 70,000 barrels of sweet, light crude, which is the most valuable subset of oil, were put back into this marketplace,

Amy Klobuchar

3:31:50 to 3:32:00( Edit History Discussion )

Amy Klobuchar: there are people who have testified that it could impact as much as 10% of the price of oil and gasoline. we tn would impact the price. some say, well, 70,000 barrels isn't very much given what

Amy Klobuchar

3:32:00 to 3:32:11( Edit History Discussion )

Amy Klobuchar: is used in a day. it's true, 70,000 barrels isn't all that much but this is sweet, light crude which is very different. we've had an economist named mr. vergler testify before the energy committee

Amy Klobuchar

3:32:11 to 3:32:22( Edit History Discussion )

Amy Klobuchar: and make that very point. so this is not irrelevant, this is important. and there are plenty of members of the senate who have now joined this, and my hope -- i just was informed that the markupstarting

Amy Klobuchar

3:32:22 to 3:32:33( Edit History Discussion )

Amy Klobuchar: at 2:00 this afternoon has been canceled. -- markupstarting at 2:00 this afternoon has been canceled. that's where i was going to offer this amendment. amendment i will expect to offer next week. but

Amy Klobuchar

3:32:33 to 3:32:40( Edit History Discussion )

Amy Klobuchar: we need to get this done. we cannot sit around and allow things to happen. we have to begin to make things happen, make good things happen for this country and for the economy. i yield the floor.

Amy Klobuchar

3:32:40 to 3:32:51( Edit History Discussion )

Amy Klobuchar: ms. klobuchar: mr. president? the presiding officer: the senator from minnesota. ms. klobuchar: yes, i ask to speak as if in morning business. e presid ing officer: without objection, so orderedment

Amy Klobuchar

3:32:51 to 3:33:05( Edit History Discussion )

Amy Klobuchar: ms. klobuchar: mr. president, i would like -- so ordered. ms. klobuchar: i would like to join my colleagues who have chosen to come to the floor and recognize and salute the 60th anniversary of the founding

Amy Klobuchar

3:33:05 to 3:33:20( Edit History Discussion )

Amy Klobuchar: of the modern state of israel. today is a great milestone for the people of israel and for all americans. ever since president truman recoized israel minutes after its birth on may 14, 1948, the united

Amy Klobuchar

3:33:20 to 3:33:33( Edit History Discussion )

Amy Klobuchar: states and israel have enjoyed a friendship based on values rooted in democracy and mutual strategic goals. israel's survival and success are a remarkable testimony to the vision that inspired its creation

Amy Klobuchar

3:33:33 to 3:33:45( Edit History Discussion )

Amy Klobuchar: six decades ago. and to the israeli people who have made that vision a reality. on this day of celebration, we must reflect on the course charted by the great leaders over the last six decades that have

Amy Klobuchar

3:33:45 to 3:33:57( Edit History Discussion )

Amy Klobuchar: made this milestone possible. through the journey, they have always been courageous and it has not always been easy. it has not always been a straight and smooth path. each step along the way has been

Amy Klobuchar

3:33:57 to 3:34:09( Edit History Discussion )

Amy Klobuchar: paved with the two fundamental and complimentary tenets of the israeli nation: resilience and faith. the existence of israel across these six decades, the way it has grown and flourished has provided security

Amy Klobuchar

3:34:09 to 3:34:24( Edit History Discussion )

Amy Klobuchar: and opportunity for its citizens. it has strengthened and enhanced jewish life around the world. and it has been a beacon of democracy that has made the entire world a safer, more hopeful place. i had

Amy Klobuchar

3:34:24 to 3:34:34( Edit History Discussion )

Amy Klobuchar: the honor, mr. president, of traveling to israel t years ago and seeing sphirs hand the the -- and seeing firsthand the strength and vitality of the country. i still remember the warm welcome i

Amy Klobuchar

3:34:34 to 3:34:45( Edit History Discussion )

Amy Klobuchar: received from the israeli people as well as the courage and pride they bring to everyday life. i was honored to meet with prime minister sharon just a few weeks before his tragic stroke, and i will value

Amy Klobuchar

3:34:45 to 3:34:57( Edit History Discussion )

Amy Klobuchar: the lessons forever that i learned from that conversation. today, america's and israel's interests in the middle east and around the world have never been so closely aligned. our common values and

Amy Klobuchar

3:34:57 to 3:35:07( Edit History Discussion )

Amy Klobuchar: objectives continue to drive us to meet the challenges we face and to pursue opportunities for greater peace and prosperity. we are in the midst of turbulent times with instability threatening to

Amy Klobuchar

3:35:07 to 3:35:16( Edit History Discussion )

Amy Klobuchar: spread across the middle east. but the people of israel must know that wherever forces of intolerance gather to endanger their safety or security, the united states wil stand beside them in defying

Amy Klobuchar

3:35:16 to 3:35:31( Edit History Discussion )

Amy Klobuchar: and defeating those foes.by . by continuing to support israel, mr. president, we support stability and democracy and we can make further progress toward peace in the region. so, mr. president, i ask that

Amy Klobuchar

3:35:31 to 3:35:45( Edit History Discussion )

Amy Klobuchar: my colleagues join with me in congratulating and celebrating with the people of israel on the 60th anniversary of the founding of their nation and that we renew our commitment to ensuring that we

Amy Klobuchar

3:35:45 to 3:36:02( Edit History Discussion )

Amy Klobuchar: will continue to celebrate each successive anniversary for decades to come. now, mr. president, i'm also going to speak on another topic which is somewhat related. it's about energy security and

Amy Klobuchar

3:36:02 to 3:36:18( Edit History Discussion )

Amy Klobuchar: it is about climate change and the potential economic value to our country. and the way it is related to israel, as we look at the fact that we spend $600,000 a minute on foreign oil, much of that

Amy Klobuchar

3:36:18 to 3:36:33( Edit History Discussion )

Amy Klobuchar: money going to countries that we might not want to be doing business with if we had a choice. an israel, just like our country, is very interested in developing alternative energy so that we can cut our

Amy Klobuchar

3:36:33 to 3:36:49( Edit History Discussion )

Amy Klobuchar: dependence on foreign oil and enhance our own security as well as israel's security. mr. president, last winter i visited the new headquarters of great river energy, one of the biggest electric

Amy Klobuchar

3:36:49 to 3:37:06( Edit History Discussion )

Amy Klobuchar: co-ops in minnesota to talk about renewable energy. eat river is building a new energy-efficient office complex in the suburb of maple grove, minnesota. but what i remember best about this day

Amy Klobuchar

3:37:06 to 3:37:21( Edit History Discussion )

Amy Klobuchar: is the huge wind turbine that towers over the building and the way its blades were rotating in those january winds. this is literally in the middle of a suburban shopping mall. it might seem odd that

Amy Klobuchar

3:37:21 to 3:37:31( Edit History Discussion )

Amy Klobuchar: a company would put a wind turbine in the suburbs of the twin cities, but, in fact, it's become a landmark for the commuters who drive past each morning and evening. it might seem even more odd that

Amy Klobuchar

3:37:31 to 3:37:44( Edit History Discussion )

Amy Klobuchar: an electric utility would erect the symbol of green energy in front of its new headquarter. but what great river understands and what that wind turbine symbolizes is that clean, alternative energy represents

Amy Klobuchar

3:37:44 to 3:37:59( Edit History Discussion )

Amy Klobuchar: a huge opportunity for our country country. great river is not alone among utility companies who can see the great future before us. exel energy, based in the twin cities and in colorado, already gets

Amy Klobuchar

3:37:59 to 3:38:12( Edit History Discussion )

Amy Klobuchar: more than 10% of its power from wind. it has pledged to generate 30% of its electricity from renewable sources by 2025 and reduce its carbon emissions by more than 20% over the next 12 years. in

Amy Klobuchar

3:38:12 to 3:38:24( Edit History Discussion )

Amy Klobuchar: fact, exel was supportive of our bipartisan state legislation that basically put in place one of the most aggressive renewable standards in the country. exel's c.e.o. dick kelly recently said that exel

Amy Klobuchar

3:38:24 to 3:38:42( Edit History Discussion )

Amy Klobuchar: intends to push it to the max. but it would be nice, he said, to have a policy at the federal level, a national policy, so we all know what the rules are. mr. president, as we prepare to debate

Amy Klobuchar

3:38:42 to 3:38:51( Edit History Discussion )

Amy Klobuchar: the landmark climate change legislation that will come before us in a few weeks, i hope we will keep these two examples in mind, because here's what they show us: global climate change represents

Amy Klobuchar

3:38:51 to 3:39:01( Edit History Discussion )

Amy Klobuchar: a world of challenges but it also represents a universe of opportunities for american business to develop new products and technologies, for consumers to save money on their energy bills, for america to

Amy Klobuchar

3:39:01 to 3:39:18( Edit History Discussion )

Amy Klobuchar: achieve greater energy security and independence. first, there is opportunities for consumers. the national academy of sciences has estimated that american motorists were able to cut their gasoline

Amy Klobuchar

3:39:18 to 3:39:27( Edit History Discussion )

Amy Klobuchar: consumption by almost 15% annually as a result of the last fuel economy standards that congress enacted in 1975. standards that also reduced the emission of greenhouse gases. the new cafe standards

Amy Klobuchar

3:39:27 to 3:39:41( Edit History Discussion )

Amy Klobuchar: that we adopted in december will not only further slow the emission of greenhouse gases, they will also save the average consumer as much as $1,000 a year at the gas pump. and we're developing the

Amy Klobuchar

3:39:41 to 3:39:52( Edit History Discussion )

Amy Klobuchar: technology to take these efficiencies even further and make savings at the pump even greater. the opportunities lie not only in producing cheaper and renewable sources of fuel, including cellulosic ethanol,

Amy Klobuchar

3:39:52 to 3:40:09( Edit History Discussion )

Amy Klobuchar: the next generation of ethanol, but in making our vehicles more efficient. increased efficiency is perhaps our greatest opportunity to stretch a family's energy dollar. $4-a-gallon gasoline stretches

Amy Klobuchar

3:40:09 to 3:40:27( Edit History Discussion )

Amy Klobuchar: a lot further than it will -- than it does when you take your car 50 miles instead of 25 per gallon. the next generation of hybrid cars as well as the development of cars powered by other renewable

Amy Klobuchar

3:40:27 to 3:40:44( Edit History Discussion )

Amy Klobuchar: sources, such as electricity or hydrogen, open a new world of opportunity for the american consumer, an opportunity for innovative american companies to be at the forefront, an opportunity to reduce our environmental

Amy Klobuchar

3:40:44 to 3:41:07( Edit History Discussion )

Amy Klobuchar: impact and to reduce our dependence on foreign oivment then there's electricity. if every american household replaced just one light bulb with a compact fluorescent bulb, the country would save $600

Amy Klobuchar

3:41:07 to 3:41:22( Edit History Discussion )

Amy Klobuchar: million in annual energy costs. the nation would save enough energy to light 3 million homes for a year and we wouldrevent greenhouse gas pollution equivalent to the emissions of more than 800,000 cars.

Amy Klobuchar

3:41:22 to 3:41:39( Edit History Discussion )

Amy Klobuchar: so if every american home just replaced one light bulb with an energy star qualified bulb, we would save more than $00 million in annual energy costs and prevent greenhouse gas equivalent to themission

Amy Klobuchar

3:41:39 to 3:41:54( Edit History Discussion )

Amy Klobuchar: of more than 800,000 cars. but there's also an opportunity for business here in addition to consumers. let me give you some examples. the safeway grocery chain decided recently to install solar panels on

Amy Klobuchar

3:41:54 to 3:42:09( Edit History Discussion )

Amy Klobuchar: 23 of its supermarkets to provide energy for heating, cooling, and electricity.~ they estimate that they will cut their electricity costs by 20% and that they will remove 12.6 million pounds of carbon

Amy Klobuchar

3:42:09 to 3:42:24( Edit History Discussion )

Amy Klobuchar: emissions every year. general electric, one of the biggest corporations in the world, has med aggressively into what it calls green products, such as energy-efficient appliances and components for wind turbines.

Amy Klobuchar

3:42:24 to 3:42:43( Edit History Discussion )

Amy Klobuchar: its sales of green products have doubled since 2005 to $12 billion, and the company aims for $20 billion of green product sales by 2010. this is our building a fridge to the next century, mr. president.

Amy Klobuchar

3:42:43 to 3:42:57( Edit History Discussion )

Amy Klobuchar: and in my home state, the state of minnesota, in the town of starbuck, minnesota, there is a small company called solar skies. there are just 10 employees at solar skies, but those 10 people decide take

Amy Klobuchar

3:42:57 to 3:43:11( Edit History Discussion )

Amy Klobuchar: a risk, to leave their jobs and go to work for a place that makes solar panels. these employees are devoted to the idea that we can create a new energy future for all of us. they believe in their

Amy Klobuchar

3:43:11 to 3:43:21( Edit History Discussion )

Amy Klobuchar: work and are now reaping the benefits of the opportunity created by this new green economy. when i visited them, they actually had me jump up and down on the solar panels, mr. president, to show

Amy Klobuchar

3:43:21 to 3:43:30( Edit History Discussion )

Amy Klobuchar: that they could withstand hail damage. i'm sure that they could welcome the presiding officer to do that as well, from the great state of montana. and clearly, the people at solar skies are not

Amy Klobuchar

3:43:30 to 3:43:46( Edit History Discussion )

Amy Klobuchar: the only ones to understand the opportunity. if you look at the leading indicator of american investment, venture capital, you will find that it reached $2.9 billion of investments in green technologies

Amy Klobuchar

3:43:46 to 3:44:03( Edit History Discussion )

Amy Klobuchar: last year, up 78% from a year earlier. clean technology is not only the fastest-growing portion of the venture capital market, it is now the third-largest category behind only biotech and computer

Amy Klobuchar

3:44:03 to 3:44:17( Edit History Discussion )

Amy Klobuchar: software. so today we have to ask ourselves, does the united states want to be a leader in creating the new green technologies and the new green industries of the future? are we going to sit back and

Amy Klobuchar

3:44:17 to 3:44:31( Edit History Discussion )

Amy Klobuchar: watch the opportunities pass us by? i'm determined that we will be a leader. as you know, this is my third speech on climate change. every week up to the debate i'm going to give one. the first was

3:44:31 to 3:44:45( Edit History Discussion )

an overview. the second one was about leadership and the needs to push this country forward and to be a world leader on this climate change issue and on technology. today -- today -- we are talking

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