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Senate Proceeding on Jul 23rd, 2008 :: 1:34:17 to 1:57:36
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Maria Cantwell

1:34:17 to 1:34:31( Edit History Discussion )

Maria Cantwell: fact, the president of the united states, on june 15, said -- quote -- "i readily concede that, you know, it's not going to produce a barrel of oil tomorrow, but it is going to change the psychology."

Maria Cantwell

1:34:17 to 1:57:36( Edit History Discussion )
Speech By: Maria Cantwell

Maria Cantwell

1:34:31 to 1:34:46( Edit History Discussion )

Maria Cantwell: so he's saying, "i readily concede that, you know, it's not going to produce a barrel of oil tomorrow, but somehow it's going to have a psychological impact. my colleague who'sho running for president

Maria Cantwell

1:34:46 to 1:35:03( Edit History Discussion )

Maria Cantwell: seemed to say a similar thing, "i don't see any immediate relief, but even though it will take some years, the fact that we are exploiting these reserves would have a psychological impact that i think is

Maria Cantwell

1:35:03 to 1:35:18( Edit History Discussion )

Maria Cantwell: beneficial." well, i think other people have seen -- in fact, senator mccain later said, or a senior advisor to him acknowledged in a news conference and call to reporters that new offshore drilling

Maria Cantwell

1:35:18 to 1:35:32( Edit History Discussion )

Maria Cantwell: would haveo immediate impact on supplies or gas prices. in fact, the white house went on to say the same thing. there is no -- there is not a real good short-term answer to high oil prices, and we've

Maria Cantwell

1:35:32 to 1:35:47( Edit History Discussion )

Maria Cantwell: been very explicit about that from the beginning. so i think it's safe to say that many people are confused about what's being discussed here on the floor. another white house spokesman said anyone out

Maria Cantwell

1:35:47 to 1:36:00( Edit History Discussion )

Maria Cantwell: there saying that something can be done overnight or in a matter of months to deal with the high prices of gasoline is trying to fool people. this is from the white house and from the republicans,

Maria Cantwell

1:36:00 to 1:36:14( Edit History Discussion )

Maria Cantwell: and somehow advocating that maybe there's a psychology advantage here, that somehow supply that we won't see until 2030 could have an impact and that maybe it would have a psychological impact today.

Maria Cantwell

1:36:14 to 1:36:30( Edit History Discussion )

Maria Cantwell: the issue is that we had a hearing this past week with many energy experts. in fact, the energy committee oil price round table. and for those of you who didn't attend, we had many of our colleagues

Maria Cantwell

1:36:30 to 1:36:47( Edit History Discussion )

Maria Cantwell: attend. two expert witnesses: daniel yergen, chairman of cambridge energy research associates and author of a very well-known book about oil; and roger darwin, an energy analyst at p.f.c. energy,

Maria Cantwell

1:36:47 to 1:37:00( Edit History Discussion )

Maria Cantwell: both firmly rejected -- firmly rejected -- the notion that the president's outer continental shelf withdrawal announcement of the moratorium somehow caused a drop in oil prices. they were asked that question,

Maria Cantwell

1:37:00 to 1:37:17( Edit History Discussion )

Maria Cantwell: and basically laughed at the suggestion that somehow lifting the moratorium had caused a drop in oil prices. and for those who want to talk about somehow that it's going to have a psychological effect,

Maria Cantwell

1:37:17 to 1:37:35( Edit History Discussion )

Maria Cantwell: i think that this chart really illustrates what's going on. we see here on the left that prices are forcing americans to basically consume less. basically th're using 800,000 fewer barrels of oil

Maria Cantwell

1:37:35 to 1:37:53( Edit History Discussion )

Maria Cantwell: than we did this time last year. but that has not had a psychological impact on the price, and we've not seen a lowering of the price. and we know that saudi arabia, here in the middle, at 500 barrels

Maria Cantwell

1:37:53 to 1:38:07( Edit History Discussion )

Maria Cantwell: a day, 500,000 more barrels a day, they are saying they're going to increase the supply. that announcement didn't have an immediate impact. in fact, we saw oil prices surge to $140 a barrel. so even

Maria Cantwell

1:38:07 to 1:38:23( Edit History Discussion )

Maria Cantwell: though these are so much more significant reduction in demand and increase in supply, some of my colleagues are arguing that by producing 200,000 barrels a day, which is what the outer continental shelf

Maria Cantwell

1:38:23 to 1:38:41( Edit History Discussion )

Maria Cantwell: drilling would get you, that somehow that's going to have a psychological effect. when this amount of reduction of consumption didn't and this amount of new supply didn't, that somehow by doing 200,000

Maria Cantwell

1:38:41 to 1:38:56( Edit History Discussion )

Maria Cantwell: barrels in 2030 that we are going to magically see a reduction in price. and i think what is clear is that it doesn't matter how many oil fields we have or how many holes we poke in the ground. it's

Maria Cantwell

1:38:56 to 1:39:12( Edit History Discussion )

Maria Cantwell: not going to bring down the price. only ending our addiction and providing americans with real energy solutions can do that. and i'm not the only one who believes that. the administration's own

Maria Cantwell

1:39:12 to 1:39:25( Edit History Discussion )

Maria Cantwell: energy department has said similar things. in fact, they have said access to the pacific and atlantic and eastern gulf regions would not have a significant impact on domestic crude oil and natural

Maria Cantwell

1:39:25 to 1:39:41( Edit History Discussion )

Maria Cantwell: gas production on prices before 2030. no impact before 2030. that's 22 years from now, and in 22 years we need to have a significant reduction in fossil fuel or our climate will be giving us a lot

Maria Cantwell

1:39:41 to 1:40:07( Edit History Discussion )

Maria Cantwell: more things to worry about than the price of oil. scientists are now telling us there's a 75% chance within five years the entire north polar ice cap will be completely disappeared within the summer

Maria Cantwell

1:40:07 to 1:40:17( Edit History Discussion )

Maria Cantwell: months and, according to tufts university, doing nothing about global warming will cost the united states economy more than 3.6% of gross domestic product or 3.-- or $3.8 trillion annually by by2,100.

Maria Cantwell

1:40:17 to 1:40:38( Edit History Discussion )

Maria Cantwell: what we're saying here is we're talking about all of this risk of drilling in the outer continental shelf. for what? what are we talking about? we're talking about something that is a fraction of the demand

Maria Cantwell

1:40:38 to 1:40:55( Edit History Discussion )

Maria Cantwell: of oil that the united states is going to need in the future. in fact, so many analyses have been done about this 21 million barrels that we are using today and what we will need in the future -- 22.6

Maria Cantwell

1:40:55 to 1:41:11( Edit History Discussion )

Maria Cantwell: barrels a day -- that the percent that we would get from the outer continental shelf drilling will be less than 1%. 1% of what the united states will need in the future. so we somehow are out here

Maria Cantwell

1:41:11 to 1:41:27( Edit History Discussion )

Maria Cantwell: talking about a proposal that is going to give us less than 1% of what the united states needs today. in fact, the energy information office continued on this discussion and said that drilling in the

Maria Cantwell

1:41:27 to 1:41:43( Edit History Discussion )

Maria Cantwell: outer continental shelf and lifting the moratorium, that under what the united states would need in the future for drilling, that these 200,000 barrels a day would have such a minimal impact on what the

Maria Cantwell

1:41:43 to 1:41:57( Edit History Discussion )

Maria Cantwell: united states needs. this particular chart shows you how much additional supply we will need. two million more barrels than what we are currently using, and this is what the outer continental shelf will give us,

Maria Cantwell

1:41:57 to 1:42:13( Edit History Discussion )

Maria Cantwell: only 200,000. it's not exactly as if this is i going to help us in the future. in fact, the energy information office continues to say, because prices are are determined on an international market

Maria Cantwell

1:42:13 to 1:42:29( Edit History Discussion )

Maria Cantwell: and because the impact of that, by the unitedtates, or basically any impact on average well head prices, that is expected to be insignificant. so because oil prices are determined on the international market

Maria Cantwell

1:42:29 to 1:42:42( Edit History Discussion )

Maria Cantwell: and any impact on average well head prices is expected to be insignificant. now, that's in response to the proposal of drilling in the outer continental shelf. so the math is simple. even if we drill in every

Maria Cantwell

1:42:42 to 1:42:57( Edit History Discussion )

Maria Cantwell: last corner of our nation, we would never be able to have an impact on world oil prices. the world price is always going to be set by others and leaving a critical aspect of our economy in the hands

Maria Cantwell

1:42:57 to 1:43:15( Edit History Discussion )

Maria Cantwell: of opec. so as long as we use a quarterer of the world's oil and have less than 2% of the world's oil reserves, facts that no amount of drilling can change, our country is vulnerable. it reminds me

Maria Cantwell

1:43:15 to 1:43:28( Edit History Discussion )

Maria Cantwell: of the old adage, if you're in a hole, stop digging. but we keep digging, digging towards a meager 200,000 barrels a day. and that 200,000 barrels assume that drilling off the coast of the atlantic

Maria Cantwell

1:43:28 to 1:43:40( Edit History Discussion )

Maria Cantwell: and pa sick is something that people will want to do. we've already heard that the risks are too great to various economies. ten billion barrels that are covered under the federal ban are off the coast

Maria Cantwell

1:43:40 to 1:43:52( Edit History Discussion )

Maria Cantwell: of california, a state where bipartisan opposition exists to further drilling. here is what governor schwarzenegger said recently, that -- quote -- "california's coastline is an international treasure,

Maria Cantwell

1:43:52 to 1:44:05( Edit History Discussion )

Maria Cantwell: and i do not support lifting this moratorium on new drilling off of our coast." the governor added -- quote -- "we are in this situation because of our dependence on traditional petroleum-based oil. the

Maria Cantwell

1:44:05 to 1:44:19( Edit History Discussion )

Maria Cantwell: direction our country needs to go in, and where california is headed is towards greater innovation and new technologies and new fuel choices for consumers. that is the way we will ultimately reduce

Maria Cantwell

1:44:19 to 1:44:31( Edit History Discussion )

Maria Cantwell: fuel costs and also protect our environment." i couldn't agree with the governor more. and, governor schwarzenegger is not alone in his straight talk because there are many citizens across the country

Maria Cantwell

1:44:31 to 1:44:47( Edit History Discussion )

Maria Cantwell: fm coastal states who also know the impact of what oil spills can have, that it can mean billions of dollars in economic loss. just ask the tens of thousands of people who lost their livelihood after

Maria Cantwell

1:44:47 to 1:44:59( Edit History Discussion )

Maria Cantwell: the exxon valdez. 6| some colleagues have made remarks that new technology makes spills from offshore platforms impossible. i mow the mr. president leader said recently -- i know the minority leader

Maria Cantwell

1:44:59 to 1:45:14( Edit History Discussion )

Maria Cantwell: said recently -- quote -- "there was not a single reported example of spilling in the gulf of mexico during the katrina hurricane." well, i respectfully would ask the minority leader if he has seen

Maria Cantwell

1:45:14 to 1:45:30( Edit History Discussion )

Maria Cantwell: the president's own report on lessons learned on the federal response to katrina. this is a copy of the cover of the report. it says "hurricane katrina caused at least ten oil spills, releasing the same quanity

Maria Cantwell

1:45:30 to 1:45:47( Edit History Discussion )

Maria Cantwell: of oil as some of the worst oil spills in u.s. history." so, there it is. a report that basically says it caused ten oil spills releasing the same quanity of oil as some of the worst oil spills in u.s.

Maria Cantwell

1:45:47 to 1:46:07( Edit History Discussion )

Maria Cantwell: history. and the report goes on to say -- quote -- "all told more than 7.4 million gallons of oil pored into the gulf region waterways, over two-thirds of the amount spilled during" -- basically the same

Maria Cantwell

1:46:07 to 1:46:26( Edit History Discussion )

Maria Cantwell: as the amount during america's worst oil disaster, the exxon valdez tanker off of alaska. now we know there are areas of the gulf -- this is an example, a photo, from a satellite picture of what happened

Maria Cantwell

1:46:26 to 1:46:40( Edit History Discussion )

Maria Cantwell: in katrina september 2, 2005. it shows you the various areas of oil spills that did, in fact, happen. so all i'm saying about that is that although there are oil risks the fact of the matter is our

Maria Cantwell

1:46:40 to 1:46:54( Edit History Discussion )

Maria Cantwell: nation and its potential for recoverable oil supply and infrastructure challenge makes us look at this problem and say that we need to move off of oil. that's why we need to move on to other things.

Maria Cantwell

1:46:54 to 1:47:09( Edit History Discussion )

Maria Cantwell: it is not to say that you can't have environmentally responsible oil-and-gas recovery. many of m senate colleagues did support in 2006 opening up more of the gulf of mexico waters after president

Maria Cantwell

1:47:09 to 1:47:23( Edit History Discussion )

Maria Cantwell: bush issued presidential directive stopping some of the drilling previously en-- endorsed by the previous administration. in hindsight opening up the gulf seemed to be another lesson in how we aren't

Maria Cantwell

1:47:23 to 1:47:36( Edit History Discussion )

Maria Cantwell: going to help impact the price. back when we opened up six million acres in lease 181, many oil companies promised this was going do have a dramatic effect for new production. it was going to be incredible

Maria Cantwell

1:47:36 to 1:47:53( Edit History Discussion )

Maria Cantwell: find and the price was $57 a barrel. we look at it today and look at what has happened six months later and the price of oil has gone up dramatically so obviously that didn't help us this impacting

Maria Cantwell

1:47:53 to 1:48:06( Edit History Discussion )

Maria Cantwell: the price of oil and with the prices so high why did the oil companies bid on only 200 million acres of the 500 million acres recently put out forbid in the gulf of mexico? -- for bid in the gulf of

Maria Cantwell

1:48:06 to 1:48:23( Edit History Discussion )

Maria Cantwell: mexico? not utilizing the existing leases is a pattern and many are not using 83% of the o public offshore lands they have tied up in leases. that is larger than the states of new york and alabama.

Maria Cantwell

1:48:23 to 1:48:40( Edit History Discussion )

Maria Cantwell: that is just sitting idle. this chart shows that 83% of the leased areas offshore are not producing energy and the oil companies are only choosing to use this area in the green. so why don't we hear

Maria Cantwell

1:48:40 to 1:48:52( Edit History Discussion )

Maria Cantwell: more about why they aren't choosing to drill? it don't make sense given what the price is. we, obviously, have heard from them that every single available drill rig, drill ship, is being used right

Maria Cantwell

1:48:52 to 1:49:03( Edit History Discussion )

Maria Cantwell: now and you can't go and drill when you dent have the equipment -- when you don't have the equipment and according to the house of representatives there are 100 billion barrels of conventional

Maria Cantwell

1:49:03 to 1:49:17( Edit History Discussion )

Maria Cantwell: oil under federal lands today. that is how much is already there in existence on land that can be leased. it is already there. it is already available. but clearly the oil companies can't or don't

Maria Cantwell

1:49:17 to 1:49:33( Edit History Discussion )

Maria Cantwell: believe it's in their financial interests not to utilize this vast amount of public lands they have. the fact of the matter depending on oil companies to get us out of this mess, i think, is exactly

Maria Cantwell

1:49:33 to 1:49:49( Edit History Discussion )

Maria Cantwell: what has gotten us into this mess. it is not a viable solution. we need to break our addiction to oil. the question is, what can we do? what can we do today to help bring back supply and demand

Maria Cantwell

1:49:49 to 1:50:05( Edit History Discussion )

Maria Cantwell: into balance? last week, dr. yergin at the session said "if americans took aew precautionary steps within driving, including properly inflighting their tires, demand for oil would decrease by 600,000

Maria Cantwell

1:50:05 to 1:50:24( Edit History Discussion )

Maria Cantwell: to 700,000 barrels per day." that's something we can do now. not in 10 years, not no 20 years but now. there are many things wnge can do now to reduce our dependence on oil. in fact, more efficient

Maria Cantwell

1:50:24 to 1:50:40( Edit History Discussion )

Maria Cantwell: tires is one at 300,000 barrels per day; keeping your car tuned and running efficiently, 400,000 barrels a day; including more commuting with other passengers; keeping tires properly inflated, 200,000;

Maria Cantwell

1:50:40 to 1:50:56( Edit History Discussion )

Maria Cantwell: and other ideas. but one thing that isn't going to have an immediate impact any time soon, not in the next five years or the next continue years or until 2030 is more offshore drilling. so these are the

Maria Cantwell

1:50:56 to 1:51:09( Edit History Discussion )

Maria Cantwell: things we should be working aggressively on. that's why these are solutions that are, in my opinion, low hanging fruit. drivers are desperately seeking any measurehey can have to lower prices at the

Maria Cantwell

1:51:09 to 1:51:26( Edit History Discussion )

Maria Cantwell: pump. that's why the bush administration should, i believe, speed up its rulemaking on a provision that established fuel efficiency tire labeling. we need a national campaign of public awareness to

Maria Cantwell

1:51:26 to 1:51:40( Edit History Discussion )

Maria Cantwell: show consumers when they properly inflate their tires -- i'm forgiving away gas gages at the stations and to make sure there is an education program if in place, you can help consumers today. according to

Maria Cantwell

1:51:40 to 1:51:56( Edit History Discussion )

Maria Cantwell: tests by consumers union, choosing the right tires and maintaining the proper pressure can save consumers $100 on today's gas prices. to me it is critically point we do things like this that we can

Maria Cantwell

1:51:56 to 1:52:10( Edit History Discussion )

Maria Cantwell: do thousand that will help consumers to give them relief. the debate over drilling highlights generational change we actually need in congress. americans know it. they know that many of our institutions

Maria Cantwell

1:52:10 to 1:52:22( Edit History Discussion )

Maria Cantwell: and safety nets are not working when it comes to this issue. think of what a difference we would be in if the last eight years had been used more aggressively to build a clean energy future that

Maria Cantwell

1:52:22 to 1:52:38( Edit History Discussion )

Maria Cantwell: our country desperately needs. for example, we cou wld have been investing more in plug-in hybrid electric vehicles that would have a tremendous impact on oil addiction. the pacific northwest lab

Maria Cantwell

1:52:38 to 1:52:59( Edit History Discussion )

Maria Cantwell: found our current electricity structure could support 70% of america's passenger vehicle fleet. that's right: 70% of our flight today could be support -- fleet today could be supported by an electricity bridge

Maria Cantwell

1:52:59 to 1:53:21( Edit History Discussion )

Maria Cantwell: if we got plug-in hybrid into the marketplace and fully utilizing the grid would displace 6.5 million barrels of oil a day equivalent to 50% of what we import and cut our greenhouse gas emissions by

Maria Cantwell

1:53:21 to 1:53:39( Edit History Discussion )

Maria Cantwell: 20%, so we could reduce imports by 50% and cutting greenhouse gas emissions by 20%. so that's what we think should have been the solution. if you take that juvment just compared to the oil, it is 32 times

Maria Cantwell

1:53:39 to 1:53:56( Edit History Discussion )

Maria Cantwell: the savings of what the proposal for outer continental shelf drilling would be. that's 32 times the savings. obviously, i think, quite significant impact. the study also found that charging a plug-in

Maria Cantwell

1:53:56 to 1:54:11( Edit History Discussion )

Maria Cantwell: hybrid at the current national electricity rate would cost the equivalent of just $1 a gallon. imagine that, instead of paying the fuel prices you pay today at $4 instead of $1 to plug-in your car, it woul have

Maria Cantwell

1:54:11 to 1:54:27( Edit History Discussion )

Maria Cantwell: such an unbelievable impact on the american consumer and the economy a opportunity. well, obviously, we could have gotten a lot faster with plug-in hybrid in the last eight years. obviously there is

Maria Cantwell

1:54:27 to 1:54:42( Edit History Discussion )

Maria Cantwell: were more that we could do now in making sure that the $20 billion in clean energy investments are saved. i don't think it's too late to get the extender package and have 42,000 megawatts of planned

Maria Cantwell

1:54:42 to 1:54:57( Edit History Discussion )

Maria Cantwell: renewable energy projects in 45 states go forward. that's the equivalent to 75 baseload electricity generation stations. i hope we can see progress on that bill because by lessening the demand on natural

Maria Cantwell

1:54:57 to 1:55:14( Edit History Discussion )

Maria Cantwell: gas and passing clean energy incentives we can lower the cost to consumers and save them on their electric bills. to say nothing of what new england is facing with the high price of fuel for their

Maria Cantwell

1:55:14 to 1:55:35( Edit History Discussion )

Maria Cantwell: home. under the baucus extender bill consumers can utilize $500 in tax insentives -- incentives to make their homes more efficient lowering home heating bills by 20%. so that is a huge opportunity

Maria Cantwell

1:55:35 to 1:55:49( Edit History Discussion )

Maria Cantwell: for us moving forward if we would just pass this legislation legislation. so, mr. president, i don't know how were time i have left. the presiding officer: there are 6 1/2 minutes urging on the majority side. ms.

Maria Cantwell

1:55:49 to 1:56:03( Edit History Discussion )

Maria Cantwell: cantwell: in wrapping up, the solutions i just talked about are solutions we can do now. they are near term, things that help us on thrg energy efficiency. if you look at what options we have

Maria Cantwell

1:56:03 to 1:56:23( Edit History Discussion )

Maria Cantwell: for the future, this is what drilling in the moratorium can save us in barrels of oil by 2030. less than a million barrels a day. here is what efficiency in automobiles, in trucks, and in the measures

Maria Cantwell

1:56:23 to 1:56:39( Edit History Discussion )

Maria Cantwell: i described in the last few minutes can do in saving us on energy and oil consumption. so we have to get off of this 27-year debate and get on to an energy future that will help make america more

Maria Cantwell

1:56:39 to 1:56:51( Edit History Discussion )

Maria Cantwell: secure. we must move faster. we must move further past the old energy policies, past the convoluted object and on to the united states becoming an energy leader. we know countries are already doing it.

Maria Cantwell

1:56:51 to 1:57:05( Edit History Discussion )

Maria Cantwell: let's make sure we have learned the lessons from our global neighbors about the changes they made. let's commit to a real energy strategy on renewables. it's something that america deserves. it's something

Maria Cantwell

1:57:05 to 1:57:16( Edit History Discussion )

Maria Cantwell: that we need to pass as soon as possible. i thank the president. i yield the floor. the presiding officer: the senator from virginia is recognized. mr. webb: mr. president, how much time is -- the

Maria Cantwell

1:57:16 to 1:57:36( Edit History Discussion )

Maria Cantwell: presiding officer: five minutes for the senator from virginia, the majority time. mr. webb: i will do my best. i wanted to speakor a few minutes today why i believe it is not only appropriate but

James Webb

1:57:36 to 1:57:53( Edit History Discussion )

James Webb: important for us to be focusing on the issue of speculation separate from the larger issues that confront us in our energy policies as a way to address the most serious problem and the most fixable problem

James Webb

1:57:36 to 2:04:14( Edit History Discussion )
Speech By: James Webb

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