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Senate Proceeding on Jul 24th, 2008 :: 3:00:35 to 3:05:04
Total video length: 7 hours 59 minutes Stream Tools: Stream Overview | Edit Time

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Sherrod Brown

3:00:35 to 3:00:52( Edit History Discussion )

Sherrod Brown: the absence of a quorum. ~ quorum call: mr. brown: nad? the presiding officer: the senator from ohio. mr. brown: thank you, madam president. i just speak for no more than five minutes on the energy bill. excuse

Sherrod Brown

3:00:35 to 3:05:04( Edit History Discussion )
Speech By: Sherrod Brown

Sherrod Brown

3:00:52 to 3:01:02( Edit History Discussion )

Sherrod Brown: me, madam president. i ask unanimous consent to vitiate the quorum call. the presiding officer: without objection. mr. brown: i was in the house of representatives and during that time, all of us

Sherrod Brown

3:01:02 to 3:01:17( Edit History Discussion )

Sherrod Brown: have noticed that when there's a spike in oil prices, as there has been obviously intermittently for decades in this country, you could always ascribe the price in oil prices to one of several things.

Sherrod Brown

3:01:17 to 3:01:28( Edit History Discussion )

Sherrod Brown: either there was a major fire at a refinery or there might have been a a -- an outage on a pipeline somewhere in our country. it might have come from the oilil price -- the oil price spike might

Sherrod Brown

3:01:28 to 3:01:43( Edit History Discussion )

Sherrod Brown: have come from something like hurricane katrina,ne some major natural disaster in our country that caused disruption of oil supplies. or it may have come from an international incident, where there

Sherrod Brown

3:01:43 to 3:01:55( Edit History Discussion )

Sherrod Brown: would be a disruption, again, a disruption in oil getting to our country, someom major i nternational incident. so it's either been a pipeline -- api refinery fire, a pipeline outage or a katrina-type

Sherrod Brown

3:01:55 to 3:02:11( Edit History Discussion )

Sherrod Brown: incident, disaster, or some interruption in foreign ei oil supplies coming s to this country. and that's what it used to be. the huge increase in oil prices, the fact that since george bush and dick

Sherrod Brown

3:02:11 to 3:02:23( Edit History Discussion )

Sherrod Brown: cheney came to the white house, two oilmen in the white house, oil has gone from $30 a barrel to quadruple thatha number. gasoline prices hgaave gone from roughly, yi believe, for m,ore than a couple

Sherrod Brown

3:02:23 to 3:02:36( Edit History Discussion )

Sherrod Brown: dollars a d gallon, less than that backt then, to about double that now. that's -- that's been for different reasons, and it's pretty clear because there hasn't been a major -- there hasn't been a --

Sherrod Brown

3:02:36 to 3:02:47( Edit History Discussion )

Sherrod Brown: a -- a major outage of a pipelineel or refinery fire or a disruptionio because of katrina or because of a foreign international incident, that something else has happened. and that's why this -- senator

Sherrod Brown

3:02:47 to 3:03:00( Edit History Discussion )

Sherrod Brown: reid's legislation is on the floor today, this week, because we know that part of the reason for prices doing what they've done is certainly there's t been n more demand from china and india,

Sherrod Brown

3:03:00 to 3:03:11( Edit History Discussion )

Sherrod Brown: but t hat doesn't accountsn for the doubling andou tripling of prices when, in w fact, this is -- so much of this is about -- about the issues of -- of what the gaming of the system by the oil industry,

Sherrod Brown

3:03:11 to 3:03:21( Edit History Discussion )

Sherrod Brown: whether it's price fixing in some sort oft wayhat the justice department should go after or mrostly what this bill is about is speculation. and it's cleard that -- that -- that that kind of hanky-panky has

Sherrod Brown

3:03:21 to 3:03:33( Edit History Discussion )

Sherrod Brown: gone on in the oil market.ke you just don't have to look very far to figure that out, that it's not just a question of supply and demand. and -- and the other thing compounding this, even though

Sherrod Brown

3:03:33 to 3:03:44( Edit History Discussion )

Sherrod Brown: i hear my friends on m the republican side of the aisle talk about we need to do more drillingil -- and i'm tbien that, too -- and i'm fine with that too -- but the fact is there ares 68 million

Sherrod Brown

3:03:44 to 3:03:55( Edit History Discussion )

Sherrod Brown: acres oliut there, 2 1/2 times the size of my state, the state of o ohio, 2 1/2 times th e number of acres as the state of high high,h 68 million acres out there -- state of ohio, 68 million acres out

Sherrod Brown

3:03:55 to 3:04:07( Edit History Discussion )

Sherrod Brown: there that the oil companies have leases on yetet they're not drilling in thosos 68 million acres. so if they really are committed to producing more oil to bring prices down, they would begin drilling

Sherrod Brown

3:04:07 to 3:04:19( Edit History Discussion )

Sherrod Brown: in far more of those acres than they talk about drilling in. so why should we, again, in this institution, in the senate, as in the house i saw for years, why should we buckle to the oil industry,

Sherrod Brown

3:04:19 to 3:04:30( Edit History Discussion )

Sherrod Brown: why should big oil always have its way here, why should wall street always have its way here? that's why senator reid's bill on speculation is so important. empowering the commodity futures trading commission,

Sherrod Brown

3:04:30 to 3:04:42( Edit History Discussion )

Sherrod Brown: empowering the justice department to go after trhe oil industry on -- on price gouging. it's clear we need a more aggressive federal government, a more aggressive administration. but all you've got

Sherrod Brown

3:04:42 to 3:04:53( Edit History Discussion )

Sherrod Brown: to do again is, loo k, we've had two oilmen in the white house. looks what's happened in these eight years to oil prices. i again say -- i beseech my colleagues to support senator reid's speculation

Sherrod Brown

3:04:53 to 3:05:04( Edit History Discussion )

Sherrod Brown: bill. and i beseech the president to be more aggressive with this justice department to go after the oil companies who are price gouging and to empower the commodity futures trading di commission to go

3:05:04 to 3:05:18( Edit History Discussion )

after wall street on some of this speculation. it's pretty clear that -- that that's the biggest reason for these price increases and it's i important that the federal government get behind efforts

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