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Senate Proceeding on May 10th, 2011 :: 0:41:05 to 0:54:15
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James Inhofe

0:40:47 to 0:41:08( Edit History Discussion )

James Inhofe: quorum call: mr. inhofe: madam president? the presiding officer: the senator from oklahoma. mr. inhofe: i ask unanimous consent that progress be vitiated. the presiding officer: without objection. mr. inhofe: and, madam president, it's been called to my attention that there are some people that are trying respond to the fact that we had such

James Inhofe

0:41:05 to 0:54:15( Edit History Discussion )
Speech By: James Inhofe

James Inhofe

0:41:09 to 0:41:30( Edit History Discussion )

James Inhofe: high prices of gasoline at the pumps. in a totally unrealistic way, in a way that is class warfare, in a way that doesn't make any sense to anyone when we have a solution to this problem that we've been talking about for a long period of time. the -- there are some who are trying to say that we're going to have to do something about

James Inhofe

0:41:31 to 0:41:51( Edit History Discussion )

James Inhofe: the -- the subsidies that are given to oil companies, about all of the amount the -- the -- what they've been doing over the -- over the years and all of a sudden they're the ones that are responsible for the high price of gas at the pumps. a c.r.s. report was requested by

James Inhofe

0:41:52 to 0:42:12( Edit History Discussion )

James Inhofe: my colleague, lisa murkowski that grew out of the frustration with the refrain that america has only 3% of the global oil reserves, and, therefore, under this view more drilling and production at home is futile. i think that president obama has said many times, with 3% of the world's oil reserves, the u.s.

James Inhofe

0:42:13 to 0:42:34( Edit History Discussion )

James Inhofe: cannot drill its way to energy security. well, it can. it's not 3%. the c.r.s. report came out later and showed -- showed -- and this is something that people don't want to believe, but it's out there and it is a fact that the united states of america has the largest recoverable reserves of

James Inhofe

0:42:35 to 0:42:55( Edit History Discussion )

James Inhofe: oil, gas, and coal of any country in the world. more than china, more than saudi arabia, more than anyone else. our problem is that we have a political problem and that is this administration -- and it goes right down democrat and republican lines, the democrats put 8% of america's federal

James Inhofe

0:42:56 to 0:43:16( Edit History Discussion )

James Inhofe: lands -- 83% of federal land off drilling. they have made some statements i will read to demonstrate very much they want to increase the price of gas at the pumps. the idea that you can do this through regulation and through trying to further tax the oil industry c.r.s. stated tax changes outline in the

James Inhofe

0:43:17 to 0:43:37( Edit History Discussion )

James Inhofe: president's budget proposal and i'm quoting from the c.r.s., the congressional review, it is completely nonpartisan, they say -- quote -- "it would make oil and natural gas more expensive for the u.s. consumers an likely increase foreign depends." ain't was very proud of a couple of the democrats over there. only two that came out that were

James Inhofe

0:43:38 to 0:43:59( Edit History Discussion )

James Inhofe: outspoken, senator landrieu from louisiana said -- quote -- "the administration has put forward draconian taxes on the oil and gas industry. it seems very contrary to our stated goal of being more energy sufficient. in the united states taxing this domestic industry would increase our dependence on foreign oil. so i want you to deliver ta

James Inhofe

0:44:00 to 0:44:21( Edit History Discussion )

James Inhofe: message again to the administration. we have bipartisan opposition to the increasing taxes on this industry. senator begich from alaska said -- quote -- "the president's proposal would cost thousands of jobs in alaska and across the country. energy companies are among the -- the businesses investing and creating jobs at a time when

James Inhofe

0:44:22 to 0:44:42( Edit History Discussion )

James Inhofe: our country needs them both and i will fight any major entities, et cetera. well, i think it should be pretty obvious without the democrats coming in, these two, and i appreciate the fact that they did, that you're not going to be able to reduce the price of oil at the pumps by further taxing the oil an gas industry -- and gas industry.

James Inhofe

0:44:43 to 0:45:03( Edit History Discussion )

James Inhofe: it's ludicrous to even think that anyone would suggest that you could increase taxes on the oil industry and the gas industry and somehow you're going to have energy more available and you're going to reduce the cost of gas at the pumps. you know, it's -- there is a way of doing this that i -- i think

James Inhofe

0:45:04 to 0:45:26( Edit History Discussion )

James Inhofe: is -- is -- is so simple. there's not a person in this country and certainly no one who serves in this body who back during his his or her elementary education didn't learn about supply and demand. here we are in the united states of america sitting on more gas an oil than any other -- and oil than any other country in the world and we are the only

James Inhofe

0:45:27 to 0:45:47( Edit History Discussion )

James Inhofe: country that doesn't exploit its own natural resources. we're the only country. now, if we did, we would be completely independent from the middle east. we wouldn't have to go outside of this continent to go -- to supply our needs. and people say, well, if you do that and you start developing then that's going to take a long time to do. it's going to be maybe eight or 10 years.

James Inhofe

0:45:48 to 0:46:08( Edit History Discussion )

James Inhofe: well, that would be fine because we were there saying that eight or 10 years ago. we could have done it then. that's not quite true. the economists have said that if we announce that we're going to go to these areas where we're not exploiting their own resources. i'm not talking about the gulf. i'm talking about the east coast, the west coast, i'm

James Inhofe

0:46:09 to 0:46:29( Edit History Discussion )

James Inhofe: talking about the north slope, anwr, our public lance where they are off -- lands where they are off limits for drilling. if we were to announce today that we are going to open up drilling and exploration and production in the united states of america, that price would drop tomorrow. it would drop immediately

James Inhofe

0:46:30 to 0:46:51( Edit History Discussion )

James Inhofe: because people would know that we have -- we are going to be able to use our own resources. you know, i hate to say t but somebody has got to say it. we have an administration that is so wrapped up in saying that one of these days we're going to have to have all of this green energy and all of that, that they themselves are on record saying that they don't want -- that they want to increase the

James Inhofe

0:46:52 to 0:47:12( Edit History Discussion )

James Inhofe: price of oil and gas. look what happened. the administration -- this is allen krueger, the department of the treasury. he said the administration believes it is no longer sufficient to address our nation's energy needs by finding more fossil fuels. the -- the obama treasury department said to the extent the lower tax rate encourages

James Inhofe

0:47:13 to 0:47:33( Edit History Discussion )

James Inhofe: overproduction of oil and gas, it is detrimental to long-term energy security. therefore, you know, we want to do away with oil and gas. and then here's the best one here. 9 energy secretary of president obama, steven chu, says -- "somehow we have to figure out how to boost the price of

James Inhofe

0:47:34 to 0:47:55( Edit History Discussion )

James Inhofe: gasoline to the levels of europe." we have an administration who wants to increase the price of gas, the price of gasoline at the pumps to be comparable to europe which is between $7.50 and $8 a gallon. and i think that obviously people would know that this is true. it wasn't long ago that president obama gave his energy speech.

James Inhofe

0:47:56 to 0:48:16( Edit History Discussion )

James Inhofe: in his energy speech, he said well, there is all this abundance of -- of clean gas that we can use. and then at the end of the speech, he said but we are -- we have some problems in -- in getting the gas out of the ground. he's talking about natural gas in this case, not about oil. and he says -- and so i happened to give the response at one of

James Inhofe

0:48:17 to 0:48:37( Edit History Discussion )

James Inhofe: the tv stations and i said -- you know, he says he wants natural gas. at the same time, he says he wants to end high drawling fracturing. let me tell you about hydraulic fracturing, madam president. the hydraulic fracturing started in the state of oklahoma, my state in 1948. it's a way of pumping fluids,

James Inhofe

0:48:38 to 0:48:58( Edit History Discussion )

James Inhofe: water primarily, into these tight formations, these tight formations mostly are down about a mile to two to three miles under the surface, and that will allow them to go in and get the gasoline. we have enough gasoline -- we have enough natural gas to take care of our needs for the next 100 years. we just need to use these systems that we have.

James Inhofe

0:48:59 to 0:49:19( Edit History Discussion )

James Inhofe: now, if you do away with hydraulic fracturing, then that means you're not going to be able to get any of the natural gas out of the system. you can't produce one cubic foot of natural gas without using hydraulic fracturing. now, what did we find out last week? steven chu, secretary chu is going to be in charge of the

James Inhofe

0:49:20 to 0:49:40( Edit History Discussion )

James Inhofe: study to see how dangerous hydraulic fracturing is. now, wait a minute, this is the same guy who said somehow we have to figure out how to boost the price of gasoline to the levels of europe. so i would only say this. we actually have three problems. we have the problem that we have all of this abundance we're not going after with fracturing. then you have to keep in mind once you get it, we have to refine it.

James Inhofe

0:49:41 to 0:50:02( Edit History Discussion )

James Inhofe: that's where the e.p.a. is coming in. i stood here at this podium for nine years talking about the problems that we have with cap-and-trade. the fact that we can't have a cap-and-trade system that is going to have the effect of costing the american people -- the estimates are between between $300 billion and and $400 billion a year.

James Inhofe

0:50:03 to 0:50:23( Edit History Discussion )

James Inhofe: that's supposedly for greenhouse gases. now, they tried -- the kyoto treaty way back in the 1990's and they tried seven different times on the senate floor to pass legislation that would have the same type of cap-and-trade as we would have if we had become a party to and ratified the kyoto treaty. now, the problem with that is

James Inhofe

0:50:24 to 0:50:44( Edit History Discussion )

James Inhofe: even if there are people out there -- and there are. there are a lot of people out there, a very large percentage of people in america, some 40%, believe that somehow the greenhouse gases are causing catastrophic global warming. even if that's -- even if that were true -- which it is not, but if it were true, it doesn't make any difference what we do

James Inhofe

0:50:45 to 0:51:06( Edit History Discussion )

James Inhofe: here in the united states of america. i admire our -- it was the director, the administrator of the environmental protection agency, lisa jackson, who was appointed by our -- by our president, president obama, because even though, yes, she is way off on the left wing, she is liberal and all that, but she -- when you ask her a direct

James Inhofe

0:51:07 to 0:51:27( Edit History Discussion )

James Inhofe: question, she gives an honest answer, and she gave honest answers. one of them was -- i asked her the question. i said at that time it was the markey bill, one of the cap-and-trade bills. i said in the event that we were to pass the cap-and-trade bill here in the united states, would that reduce emissions?

James Inhofe

0:51:28 to 0:51:49( Edit History Discussion )

James Inhofe: and her wouldn't, because that won't affect the united states of america. that's not where the problem is. the problem is in india and in mexico, china. china, right now they are cranking out two coal-fired generating plants every week in china. so it's going to continue there.

James Inhofe

0:51:50 to 0:52:11( Edit History Discussion )

James Inhofe: in fact, you could argue that it would even be more expensive -- it would be more expensive because -- or more polluting if you call co2 a pollution because our jobs would go to places like china where they do have this problem. they don't have any emission control. so you have the problem of refining it once you get it --

James Inhofe

0:52:12 to 0:52:32( Edit History Discussion )

James Inhofe: and i see my good friend from -- is on the floor. he is going to be speaking, i'm sure, on perhaps the same thing, but i only want to mention one thing, that the cap-and-trade agenda, since they were not able to get it passed, they are trying to do it through the environmental protection agency, through regulations.

James Inhofe

0:52:33 to 0:52:53( Edit History Discussion )

James Inhofe: lion oil based in el dorado, arkansas, recently testified before the house energy and commerce committee that it commits a $2 million expansion of its el dorado refinery in 2007 with 2,000 construction jobs, but its completion has since been stalled. as lion oil vice president steve cousins explained, and i'm

James Inhofe

0:52:54 to 0:53:15( Edit History Discussion )

James Inhofe: quoting now, "the uncertainty and the potentiality of prohibitive costs associated with possible cap-and-trade legislation and e.p.a.'s greenhouse gas regulations were the critical factor leading us to delay the completion." what i am saying is if we are -- and i believe we are going to be able to break down this barrier and overcome this -- this mentality that we should not be

James Inhofe

0:53:16 to 0:53:37( Edit History Discussion )

James Inhofe: developing our own resources, but then we also have to have a way of refining that. we can do it, it's within our reach, and we could bring down the price of oil and gas and certainly gasoline at the pump by tomorrow. if we were to announce that we were going to stop being the only country in the world that doesn't exploit its own resources, we go after the oil

James Inhofe

0:53:38 to 0:53:58( Edit History Discussion )

James Inhofe: and gas that is available in the gulf and the east coast and the west coast, our public lands as well as -- as the north slope of alaska, we could be independent from any dependency on the middle east. and with that, i believe the american people understand that. it goes right back to our elementary school education. it's supply and demand.

James Inhofe

0:53:59 to 0:54:15( Edit History Discussion )

James Inhofe: we have the supply in the united states of america. we've got to open up that supply so that we can use it, and obviously that would lower the price of gas at the pumps. with that, i floor. mr. sessions: madam president? the presiding officer: the

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