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Senate Proceeding on May 12th, 2011 :: 0:06:30 to 0:12:50
Total video length: 8 hours 26 minutes Stream Tools: Stream Overview | Edit Time

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Harry Reid

0:06:27 to 0:06:48( Edit History Discussion )

Harry Reid: the senate will be in morning business until 1:00 p.m. today. the republicans will control the first 30 minutes. the majority will control the next 30 minutes. following morning business, the senate will be in executive session to consider the nomination of michael urbanski to be united states district judge of the western district of virginia. there will be one hour of debate on that. at approximately 2:00 p.m. there

Harry Reid

0:06:30 to 0:12:50( Edit History Discussion )
Speech By: Harry Reid

Harry Reid

0:06:49 to 0:07:10( Edit History Discussion )

Harry Reid: will be a roll call vote on confirmation of the urbanski amendment. i'm also told that s. 953 is at the desk reading. the presiding officer: the clerk will report. the clerk: s. 953, a bill to authorize the conduct of certain lease sells in the outer continental shelf and so forth and for other purposes.

Harry Reid

0:07:11 to 0:07:31( Edit History Discussion )

Harry Reid: object to any further proceedings with respect to this bill. the presiding officer: objection is heard. it will be placed on the calendar. mr. reid: mr. president, as i speak, the heads of the five largest oil and gas companies in the world are testifying across the street. with the country watching these

Harry Reid

0:07:32 to 0:07:52( Edit History Discussion )

Harry Reid: extremely wealthy c.e.o.'s and extremely profitable corporations, they're trying to explain to the senate why they still need taxpayer handouts. i don't envy them because it's an impossible position to defend. think about this, in just the first three months of this year the oil indus made $36 billion in profits

Harry Reid

0:07:53 to 0:08:13( Edit History Discussion )

Harry Reid: alone. not revenues, profits. that's $12 billion a month, that's $3 billion a week. in anyone's book, that's pretty good money. meanwhile the american taxpayer is giving the same successful companies $4 billion a year.

Harry Reid

0:08:14 to 0:08:35( Edit History Discussion )

Harry Reid: so when you take these companies' profits and add them a handout, you, me, an every taxpayer gives them, america's saying to big oil you make $52 billion a week and we'll give you the 53 week for free. even in the strongest economies that seems unnecessary.

Harry Reid

0:08:36 to 0:08:56( Edit History Discussion )

Harry Reid: in this recovering economy it is downright indefensible. basically these tax breaks are such a hard thing to do that the big oil bosses, trying to defend them, is such a hard thing to do, mr. president, that they called for backup. most of our republican colleagues eager i will answered

Harry Reid

0:08:57 to 0:09:18( Edit History Discussion )

Harry Reid: the call publicly already. -- eager i will answered the call publicly already. there's something i learned in the courtroom a long time ago, when you try to defend the indefensible, you're left with not much of a case. that's why the republican defenders of big oil have resorted to making things up. they'll tell you without the

Harry Reid

0:09:19 to 0:09:39( Edit History Discussion )

Harry Reid: taxpayer-funded bonus, gas prices will go up. they say that because they though it's a scary thought. gas prices are already high. but there's a big problem with argument. it's falls. it's not true. -- it's falls, it's true true. big oil subsidies don't have a thing to do with the prices at the pump. a report released by the nonpartisan independent agency says as much.

Harry Reid

0:09:40 to 0:10:01( Edit History Discussion )

Harry Reid: experts at the congressional research service who wrote this report don't mention it just once, they write it over and over and over again. here's one way c.r.s. says it -- quote --"there's little reason to believe that the price of oil or gasoline consumers face will increase."

Harry Reid

0:10:02 to 0:10:22( Edit History Discussion )

Harry Reid: here's another and i quote -- "available output in prices should be unaffected." here's one more -- quote -- "taking away big oil's tax break an independent report says -- quote -- "we'll have no effect on the price of gasoline."

Harry Reid

0:10:23 to 0:10:43( Edit History Discussion )

Harry Reid: little reason to believe prices will increase, prices should be unaffected, no affect on the price of gasoline. their words, not mine. so the american people should know this, every time you hear someone defend taxpayer gifts to oil companies by scaring you about gas prices, they're not telling you the truth.

Harry Reid

0:10:44 to 0:11:04( Edit History Discussion )

Harry Reid: every time you hear someone say we need to find better uses for taxpayer money, but we also need to keep giving billions and billions of dollars of that same money to oil companies, how is it possible that both are true? i'm pleased to see some of my republican colleagues are coming around. the speaker of the house said

Harry Reid

0:11:05 to 0:11:25( Edit History Discussion )

Harry Reid: these companies should pay their fair share. yesterday the senior senator from arizona admitted that subsidies are likely unnecessary. even the former head of shell agrees. if we're serious about reducing the deficit, this is an easy place to start. it's, in effect, a no brainer,

Harry Reid

0:11:26 to 0:11:46( Edit History Discussion )

Harry Reid: mr. president. taxpayer giveaways are the epitome of wasteful spending. so this is the democrats idea. let's use the savings from the taxpayer giveaways to drive down the deficit, not drive up the oil company profits. there are no gimmicks in this legislation. it says let's apply this money

Harry Reid

0:11:47 to 0:12:07( Edit History Discussion )

Harry Reid: to the deficit. the c.e.o.'s and their companies are free to make as much money as they ethically can. they just don't need the taxpayer -- our country -- they don't need our help and the country can sure use those extra $4 billion a year. it's such an obvious solution

Harry Reid

0:12:08 to 0:12:28( Edit History Discussion )

Harry Reid: that should have happened years ago. but here we are, with one sign saying that black is black and the other side still insisting that black is blue. this debate would be a lot easier if republicans just came out and said what they really mean. they should simply say openly that they want to protect their friends in big oil. i don't agree with it, but

Harry Reid

0:12:29 to 0:12:50( Edit History Discussion )

Harry Reid: that's their right. instead they're peddling misinformation and scare tactics much the americans people should admit it and let the american peop representing their best interest. mr. mcconnell: mr. president? the presiding officer: the republican leader. mr. mcconnell: anyone who cares about the future of our country should pay attention to

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