Senate Proceeding on Jul 24th, 2008 :: 7:04:37 to 7:31:16
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6:54:23 to 7:04:37( Edit History Discussion )
Speech By: Jon Kyl

7:04:20 to 7:04:37( Edit History Discussion )

Jon Kyl: 60 votes if we need that, and maybe a lot more than that. my hope is we get it out to the house, we get it passed as soon as possible and get this desperately needed money to the states. madam president,

7:04:37 to 7:04:49( Edit History Discussion )

Maria Cantwell: with that, i yield the floor. a senator: madam president? the presiding officer: the senator from new hampshire is recognized. mr. gregg: thank you, madam president. i wanted to pick up on what the senator

7:04:37 to 7:31:16( Edit History Discussion )
Speech By: Maria Cantwell

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Maria Cantwell: from vermont was saying because i feel very strongly that we do w need to move forward with additional funding for liheap, the low-income energy assistance program. in fact, i've offerede an amendment to

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Maria Cantwell: this -- or have filed an amendment -- i haven't offered it because no amendments have been allowed by the majority party. but i have filed an amendment with the energy bill, which is the logical place

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Maria Cantwell: that we should put the liheap language, which would do three things. double the amount of money to low income heating assistance, increasing it by $2.5 billion. and that is what we need in order to make sure

7:05:35 to 7:05:50( Edit History Discussion )

Maria Cantwell: that we go into this winter with enough money to take care of the increased prices for energy, according to the energy office in new hampshire. secondly, it would add $523 million to the weatherization

7:05:50 to 7:06:06( Edit History Discussion )

Maria Cantwell: program. i think weatherization makes a lot of sense because it takes homes which lose a lot of their energy through lack of adequate windows or adequate insulation and helps those homes, especially

7:06:06 to 7:06:19( Edit History Discussion )

Maria Cantwell: low-income individuals. further, it does something which i think is important which is that liheap has directed low-income people, but middle-income families today with the cost of energy doubling

7:06:19 to 7:06:31( Edit History Discussion )

Maria Cantwell: and tripling, really have a serious problem. folks who are working for a living but are still on a fairly tight budget or a fixed income, they're really going to get hit hard this winter when their energy

7:06:31 to 7:06:45( Edit History Discussion )

Maria Cantwell: bills double, triple may be. this bill sets up a tax credit dealing with the first $1,000 for an individual who is purchasing energy at fairly moderate income levels so it doesn't benefit high-income

7:06:45 to 7:07:00( Edit History Discussion )

Maria Cantwell: sreufpltdz it allows people to the extent they buy home to heat their homes, take that tax credit to assist them in the effort of reducing the cost of that oeufplt all of this is paid for. my bill

7:07:00 to 7:07:08( Edit History Discussion )

Maria Cantwell: is entirely paid for. what you're talking about here is buying a consumable product for today -- oil to heat your home -- and then, unfortunately, if you don't pay for it, you're passing the bill

7:07:08 to 7:07:18( Edit History Discussion )

Maria Cantwell: for that oil on to our children and grandchildren by adding to the debt of the united states. and that's not fair. our children and grandchildren are going to have their own tough time heating their

7:07:18 to 7:07:33( Edit History Discussion )

Maria Cantwell: homes. they don't need to have the debt that's included in paying for that program. so, my bill is entirely paid for by eliminating a tax -- what i consider to be an inappropriate tax break for basically

7:07:33 to 7:07:48( Edit History Discussion )

Maria Cantwell: large integrated oil companies known as section 199. this tax break was not directed at those companies originally when it was passed and it shouldn't be there. it is being taken of. it is not needed

7:07:48 to 7:08:02( Edit History Discussion )

Maria Cantwell: when oil is selling for $120 a barrel and efforts to produce oil are significant enough just by the cost of the marketplace. i think this is an important point to make, that we need to have a comprehensive

7:08:02 to 7:08:15( Edit History Discussion )

Maria Cantwell: approach here relative to people who are going to be impacted this winter, and it needs to be a paid-for approach. that's why i made the suggestion. i also feel strongly that if the majority leader

7:08:15 to 7:08:27( Edit History Discussion )

Maria Cantwell: calls up the bill which he filed, which is the bill from senator sanders in de an attempt, basically to take down the energy bill so that we're not going to debate that any longer, that that's not

7:08:27 to 7:08:40( Edit History Discussion )

Maria Cantwell: the right app roach. because the real way you get to the issue of energy and the cost of energy for low-income people in new hampshire this winter and for moderate income this winter is to bring down

7:08:40 to 7:08:52( Edit History Discussion )

Maria Cantwell: the overall price of energy. how do you do that? you produce more and you consume less. we on our side of the aisle have a series of ideas as to how you should produce more. use the oil in the outer

7:08:52 to 7:09:06( Edit History Discussion )

Maria Cantwell: continental shelf. drill in the outer continental shelf. use oil shale. we have 2 trillion barrels of oil shale sitting there, more reserves and all in saudi arabia and many of the middle eastern

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Maria Cantwell: countries combined. use those resources. bring them on the market. take away the impediments which we as a congress -- the democratic congress specifically -- have put in the way of using outer continental

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Maria Cantwell: shelf oil. there is language which has passed this congress, which was put in by the democratic congress which says you can't drill in the outer continental shelf. there is language which says you

7:09:29 to 7:09:41( Edit History Discussion )

Maria Cantwell: can't use oil shale from wyoming, colorado and utah. that language should be removed so that those sources of oil can be used. and once you show the world that we are willing to bring on-line as

7:09:41 to 7:09:56( Edit History Discussion )

Maria Cantwell: a nation additional production from our resources, that will reduce the price of energy, because these prices which we're seeing today are speculative prices based on what they expect to occur in the

7:09:56 to 7:10:11( Edit History Discussion )

Maria Cantwell: future and they expect the man t to goto up but supply to stay stable, to not gsto up. well, if we prove that we're willing to bring more supply on line, we're willing to use other sources such as nuclear

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Maria Cantwell: to redues our reliance onel oil, that will cau se these prices to come down. that's the most significant thing we could do. if we could bring the price of a barrel of oil dow to $100 even that

7:10:24 to 7:10:38( Edit History Discussion )

Maria Cantwell: would tremendously take pressure off people buying home heating bill. this energy bill we're relating on. this has to be complete pw-fd we move on to senator stkarpbdz bill. in the debate of this

7:10:38 to 7:10:53( Edit History Discussion )

Maria Cantwell: -- sanders bill. in the debate of this bill we should take up a liheap amendment which i suspect will be offered from our side of the aisle. at the same time we shouldim take up these other ithdeas

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Maria Cantwell: of expanding the use of our reserves as a nation on the outer continental shelf in the oil shale reserves, using nuclear power. expanding these reserves. why? because that will cause the price of oil to

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Maria Cantwell: come down. in addition, the secondary benefit of this, of course, is that we won't be buying energy from people who don't like us. we won't be buying energy from iran if we're producing moore american

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Maria Cantwell: oil. so clearly this is whaoerbd we should do. there will be an amendment promoting the use of electric cars and development of electric batteries. promoting more conservation ideas, promoting

7:11:31 to 7:11:46( Edit History Discussion )

Maria Cantwell: more renewable ideas. these are initiatives which need to be pursued. more importantly they need to be discussed and a genuine bill needs to go out of this congress. a bill such as the majority leader hasad

7:11:46 to 7:12:00( Edit History Discussion )

Maria Cantwell: presented which deals woepbl one small sliver of the problem which is the potential for speculation. it does nothi dng to increase supply and it does nothing to increase conservation, the two things

7:12:00 to 7:12:14( Edit History Discussion )

Maria Cantwell: we nd to do in order to get the price of oil down. the simple fact is this bill should be available and open to amendment. to basically sidetrack this bill, to throw it in the ditch so we can't go forward

7:12:14 to 7:12:29( Edit History Discussion )

Maria Cantwell: with amendments which deal with bringing on more oilng shale, which deal with nuclear power, which deal with more conservation, i'm not going to vote for something that tries to accomplish that. i'm

7:12:29 to 7:12:43( Edit History Discussion )

Maria Cantwell: going to vote to try to make sure that wet come out of this debate with a comprehensivepr policy, something that drives this country towards creating more amo supply that's american-created, while

7:12:43 to 7:12:58( Edit History Discussion )

Maria Cantwell: at the same time using less. madam president, how much time do i have left? the presiding officer: senator, you have 7 minutes. the senator has used 8 minutes, and there are 22 minutes left. mr. gregg:

7:12:58 to 7:13:19( Edit History Discussion )

Maria Cantwell: i believe i i have 10av minutes. if the chair would advise me when i've i cleated 10 minutes, i will do that. awe ail do that. mr. gregg: on another topic. we're going to take up tomorrow, hopefully,

7:13:19 to 7:13:31( Edit History Discussion )

Maria Cantwell: the housing bill. this is anxtraordinarily important piece of legislation. it's a big leap for those of us who are fiscal conservatives to say that the government should step into arena as aggressively as

7:13:31 to 7:13:44( Edit History Discussion )

Maria Cantwell: this bill suggests we do. unfortunately it is a necessary stefplt it accomplishes two things which arere absolutely critical. today there are a lot of people losing their homes through foreclosure

7:13:44 to 7:13:56( Edit History Discussion )

Maria Cantwell: as a result of taking part in what i was known as the subprime lending process and having their arms reset, their mortgage rates reset. et this bill sets up a process where people who live in their primary

7:13:56 to 7:14:12( Edit History Discussion )

Maria Cantwell: residence, who have the wherewithal, the ability to pay a reasonable phorpt can re -- mortgage can restructure that mortgage so they can afford it and so they don't lose their home and there isn't

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Maria Cantwell: a foreclosure. that is very important not only to those individuals but it is important in the marketplace to start some activity in the area of mortgage lending and sales. secondly, this bill addresses

7:14:35 to 7:14:49( Edit History Discussion )

Maria Cantwell: the fundamental strength of the financial institutions. we have financial institutions in this country which are a bit unstable. unstable. we need to make sure 245 they're stable. why? because

7:14:49 to 7:15:05( Edit History Discussion )

Maria Cantwell: these institutions such as freddie mac and fannie mae are essentially at the center of the strength, whether we like it or not, of our banking industry. and we need to set up a process so the marketplace

7:15:05 to 7:15:16( Edit History Discussion )

Maria Cantwell: knows these institutions are going to survive and be able to have the capital and wherewithal to continue to lend and continue to have the market turn over mortgages so that you can have liquidity

7:15:16 to 7:15:26( Edit History Discussion )

Maria Cantwell: in the lending markets. this is critical. now, some will argue that it may be expensive. my argument is that we don't take this step, we know it will be expensive. -- the presiding officer: the senator

7:15:26 to 7:15:43( Edit History Discussion )

Maria Cantwell: used ten minutes. mr. gregg: thank you. we know we'll be paying a massive price. so although i donon like the idea from a concept, as a phafrt practice, this is something we're simply going to have

7:15:43 to 7:15:56( Edit History Discussion )

Maria Cantwell: to do in order to assure the fiscal solvency and resilience of our credit markets. madam president, i appreciate the curt sift chair and yield the floor. mr. sessions: madam president? the presiding

7:15:56 to 7:16:07( Edit History Discussion )

Maria Cantwell: officer: the senator from alabama is recognized. mr. sessions: madam president, i appreciate my colleagues, and i thank senator gregg for his insights into housing and other matters and with regard

7:16:07 to 7:16:24( Edit History Discussion )

Maria Cantwell: to liheap, potential legislation, i respect the fact that he desires it to be paid for and not be one more addition to the public debt. but as a senator who has believed that for the 12 years i've been

7:16:24 to 7:16:39( Edit History Discussion )

Maria Cantwell: here that this nation needed to produce more oil and m gas at home and have been frustrated so often by my colleagues frequently from the northeast, i must have to say, who have been opposed all production

7:16:39 to 7:16:54( Edit History Discussion )

Maria Cantwell: offshore, they've opposed oil production in alaska, they have opposed coal-to-liquid thefplt opposed oil shale production and other avenues of production, that they -- and they have favored, my colleague

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Maria Cantwell: from vermont, the junior senator on the energy committee together, he declared we needed more geothermal, we needed more wind and we needed more solar, we needed renewable energy forms, which i certainly

7:17:16 to 7:17:32( Edit History Discussion )

Maria Cantwell: support in every way possible. yet, it's odd to me that those very same persons, very same persons now walk in blithely into the united states senate and want the taxpayers of america to subsidize the

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Maria Cantwell: northeast so that they can buy more dirty fuel oil to heat their homes with.| people who objected to the production of oil and gas for year after year. now, i just have to say that. i know people

7:17:48 to 7:18:04( Edit History Discussion )

Maria Cantwell: in the northeast are hurting. people all over country are hurting. my home county, a little county i grew up in in alabama, according to "the new york times," according to a national survey found that

7:18:04 to 7:18:19( Edit History Discussion )

Maria Cantwell: they spend a larger percentage of their income on gasoline than any other county in america because the incomes are low in the rural areas and they have to drive a long distance to work. primarily

7:18:19 to 7:18:35( Edit History Discussion )

Maria Cantwell: those from the factors cited. it makes sense to me. are we going to subsidize people in wilcox county? who gets subsidized? whatwh wee need, without any doubt, colleagues, what we needd iss an energy

7:18:35 to 7:18:51( Edit History Discussion )

Maria Cantwell: policy that will bring down these prices. we need an energy policy that makes sense. not subsidizing the dirtiest oil of all, really, burning heating oil in an individual home. some of the -- and we

7:18:51 to 7:19:05( Edit History Discussion )

Maria Cantwell: ought to be thinking about things that could actually work like cleaner, natural gas. making those pipelines available throughout the country instead of blocking every attempt to expand a pipeline

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Maria Cantwell: or maybe expanding nuclear power in the northeast and other places in the country so that more of our homes could be converted to clean electricity produced by nuclear power that produces not one drop

7:19:22 to 7:19:33( Edit History Discussion )

Maria Cantwell: of global warming gases or atmospheric pollution. so i just would say that. and i'vean got to say that i am disappointed that the majority leader has decidedded that -- decided that he did not have

7:19:33 to 7:19:50( Edit History Discussion )

Maria Cantwell: time, i believe were his words, to deal with energy. and, therefore, he's filled the tree using a parliamentary procedure that means that we would go home a week earlier than we expected to go home.

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Maria Cantwell: not stay in session nextt week. not talk about energy. the things that the american people care about. they care about energy and the economy and the economy is adversely affected by high energy

7:20:03 to 7:20:19( Edit History Discussion )

Maria Cantwell: costs. that's what we need to be doing right now. i think that this idea that the majority leader can fill the tree and control the amendments and so we're not able really to enter into a debate

7:20:19 to 7:20:33( Edit History Discussion )

Maria Cantwell: about how to confront the energy crisis this nation is experiencing is a very extraordinary departure from our classical history here. in 2005, 2006 we had an energy debate. we passed an important energy

7:20:33 to 7:20:48( Edit History Discussion )

Maria Cantwell: bill. the republicans had the majority at that time. i believe it was 15 days of debate and 20 or 30 amendments were offered and many more than that were accepted without a full vote. then last year

7:20:48 to 7:21:02( Edit History Discussion )

Maria Cantwell: the democratic majority allowed an energy debate that improved our cafe standards and -- and it passed overwhelming ly. i voted for that. and i think it was 10 full days of debate and many votes cast

7:21:02 to 7:21:22( Edit History Discussion )

Maria Cantwell: on amendments and quite a number of amendments accepted. so why would we not do that now when we're facing an even more severe case is? that's -- severe crisis? that's the question i would say. so

7:21:22 to 7:21:37( Edit History Discussion )

Maria Cantwell: i would note to my colleagues that energy crisis are having a very real impact on the lives of our constituents. according to triple a, the average price of regular unleaded gasoline was $3.04 this

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Maria Cantwell: morning, as a result the typical erican family with two cars is paying approximately, and we've calculated this out according to average miles driven, paying paying $1,260 more this year for the

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Maria Cantwell: same number of gallons of gasoline they were purchasing last year. that amounts to a -- a 10 -- $105 per month increase in expenditures for that family. now, remember people have paid their taxes, they

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Maria Cantwell: had their social security withheld, they paid their insurirance, they paid their house payment, and all the basic expenses. you only have a certain amount of money. if you want to know why the american

7:22:20 to 7:22:34( Edit History Discussion )

Maria Cantwell: people are unhappy, it's because they're paying an extra $105 per month for the same amount of gasoline they were purchasing before and when they realized a big reason for that is because of a systematic

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Maria Cantwell: action by congress to block production of clean american energy, i think they're going to be unhappy with us. in fact, they already are unhappy with us in popularity of congress at an all-time low

7:22:44 to 7:22:53( Edit History Discussion )

Maria Cantwell: and i think on this energy question, we deserve the criticism. now, i've got to say. i have promoted more production for years and i've warned against this -- this problem. as a result of our policies,

7:22:53 to 7:23:07( Edit History Discussion )

Maria Cantwell: we are now importing well over 60% of our fuel. that amounts to $500 billion to $700 billion in american wealth that has been transferred out of this country. to foreign nations. and they're using it as

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Maria Cantwell: venezuela is doing right now with chavez being in russia to close a $2 billion arms deal. basically our money from the high prices of oil, he's taking in more money than he knows what to do with.

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Maria Cantwell: he's now off shopping to buy weapons that hopefully he won't, but possibly he will use to destablize south america since he sees himself following in the footsteps of fidel castro, his hero. this is not

7:23:47 to 7:24:03( Edit History Discussion )

Maria Cantwell: a good thing. so i've offered legislation, mr. president -- madam president, that would open up the -- an area in the gulf of mexico on the alabama side of the alabama florida line cled the stovepipe

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Maria Cantwell: that has large amounts of oil and gas in it. it is shallow water, so the wells can be drilled in a fashion that they can sit onn the bottom. the teep drilling that we're -- deep drilling that we're

7:24:18 to 7:24:29( Edit History Discussion )

Maria Cantwell: doing today, you have to have a ship that the waters are so deep, you can't anchor the ship, it has to sit in place by g.p.s. and have propellers around it so it can hold steady. and the drilling

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Maria Cantwell: can go on. this will be cheaper and quicker to bring on board. i've offered legislation that would require the department of energy to look at the incentives we've created to see which ones are working

7:24:40 to 7:24:53( Edit History Discussion )

Maria Cantwell: and to make a recommendation how to utilize our subsidies, our incentives and prohibitions in a way that effectively maximizes our energy capacity in this country making us less dependent on foreign oil

7:24:53 to 7:25:04( Edit History Discussion )

Maria Cantwell: oil. and, madam president, i just believe strongly that we need more efficiency. we need to use less energy. we need to have a breakthrough, and i believe we will. and in my home state, i believe we're going

7:25:04 to 7:25:14( Edit History Discussion )

Maria Cantwell: to see within the next few months a breakthrough on the conversation of cellulose to biodiesel or ethanol, and that could be a big help to us. and certainly be more productive than that ethanol we're

7:25:14 to 7:25:30( Edit History Discussion )

Maria Cantwell: obtaining from corn today. i see my colleague, the distinguished senator from arizona here. i want to say more, but would just conclude by saying, i believe that we need to act. our soldiers in iraq work

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Maria Cantwell: seven days a week, 12, 15 hours days. their lives are at risk. the majority leader says, we don't have time? that we need to recess a week earlier than we projected and we can't possibly spend time

7:25:45 to 7:25:58( Edit History Discussion )

Maria Cantwell: during august. we need to be home at recess dealing with the number one issue facing the american people in this country. i believe that is wrong policy. i think we need to say so. and i believe there

7:25:58 to 7:26:10( Edit History Discussion )

Maria Cantwell: are large numbers of democratic members of this congress, this senate who will support more production that's safe and carefully done that will help us deal with the crisis we are facing. but we can't

7:26:10 to 7:26:18( Edit History Discussion )

Maria Cantwell: make progress unless we're able to vote and debate. and that's being denied at this time. i thank the chair and would yield the floor. mr. kyl: madam president? the presiding officer: the senator from

7:26:18 to 7:26:35( Edit History Discussion )

Maria Cantwell: arizona is recognized. mr. kyl: thank you, madam president. i associate myself with the remarks my colleague from alabama a moment ago. and i will speak to the reliance of the united states on other

7:26:35 to 7:26:48( Edit History Discussion )

Maria Cantwell: countries around the world for too much of our petroleum and natural gas supplies and what that does to the united states to make us dependent, toes cost us more -- to cost us more money, to reduction

7:26:48 to 7:27:03( Edit History Discussion )

Maria Cantwell: our flexibilitynd actions around the world. and also the point that every time they want to rattle tir sabres to create instability in the world, what that does to the markets is to reflect that instability

7:27:03 to 7:27:15( Edit History Discussion )

Maria Cantwell: in higher prices. so these very countries that we'd like not to make so s much money off of their oil supply, if they want to make a little more, all they have to do is create a little trouble in

7:27:15 to 7:27:25( Edit History Discussion )

Maria Cantwell: the world and it raises the price because the markets go haywire for a little while. i will talk about that in a moment. i reflected on a comment a colleague of mine made some time ago and i don't

7:27:25 to 7:27:41( Edit History Discussion )

Maria Cantwell: mean disrespect to the other side of the aisle, he said that republicans have an approach to problems, taxation, litigation. sometimes we like to laugh about that because it is unfortunately too true. and

7:27:41 to 7:27:55( Edit History Discussion )

Maria Cantwell: i thought how does this apply to energy and sure enough, it does. they, of course, tried taxation and it failed. trying to raise taxes on oil companies, that it would never be reflected by consumers

7:27:55 to 7:28:06( Edit History Discussion )

Maria Cantwell: and the prices we pay. they tried litigation against opec. there is no way that we could use the t opec nationings, what we ought to do is produce more in the united states, not telling the opec

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Maria Cantwell: nations that they have to produce more. they pretty strained in terms of where they are in their production right nowti in any event and we are not as the king of saudi arabia reminded president bush

7:28:25 to 7:28:40( Edit History Discussion )

Maria Cantwell: not tooongg ago. and thehe third thing has to did with regulation and it is the bill pending before us right now. this is the democrat approach. let's regulate the people who buy and sell the contracts

7:28:40 to 7:28:55( Edit History Discussion )

Maria Cantwell: for oil and natural gas and the like. now, ofoue, we already have regulation, it is called the commodity futures trading corporation or the cftc. and today we got some news that demonstrates that this

7:28:55 to 7:29:07( Edit History Discussion )

Maria Cantwell: body is doing its job and can do its job and to extent that there is illegal manipulation in the mark, the cftc can stop it. they announced today after a year of investigation, where they had stopped

7:29:07 to 7:29:17( Edit History Discussion )

Maria Cantwell: a -- a company that was allegedly illegal manipulating the market, that they are going to take legal action against them and the department of justice, i think, may be looking at it from a criminal aspect

7:29:17 to 7:29:36( Edit History Discussion )

Maria Cantwell: as well. both democrats an republicans have a-- and republicans agreed that one of the things that we need to do is to ensure that the cftc has all of the money it needs and the personnel it needs

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Maria Cantwell: to continue to do the job we've given it to do to make sure that the people are not abusing the process. that's the good part of regulation. the bad part would be define as the democrat legislation

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Maria Cantwell: does, who good traders are and who bad traders are. and not let the bad traders trade. something that was just debunked yesterday in a study -- an interagency study, including by the cftc which

7:30:12 to 7:30:31( Edit History Discussion )

Maria Cantwell: concluded that speculation was not the problem. that the reason for the price increases at the pump is, of course, the law of supply and demand. not enough supply for the demand that exists out there.

7:30:31 to 7:30:46( Edit History Discussion )

Maria Cantwell: today, another diversion was created. and i want to reiterate this one more time. because it involves a friend of mine. my colleague from arizona, john mccain and he was grossly misquoteed this morning

7:30:46 to 7:31:03( Edit History Discussion )

Maria Cantwell: by senator reid and others who have tried to suggest that he's not for offshore drilling. i think eve rybody knows that john mccain supports more offshore drilling. as a matter of fact, could we put

7:31:03 to 7:31:16( Edit History Discussion )

Maria Cantwell: the other chart up here first? let me just quote one of many things that i could refer to from his website. i have a great deal of information in which he makes it very clear that he is for more offshore production.

7:31:16 to 7:31:26( Edit History Discussion )

Chuck Grassley: among other things in june of this year he said, for example, "opponents of domestic production chinning to their position even as the price of foreign oil has doubled and doubled again. every year we are

7:31:16 to 7:49:35( Edit History Discussion )
Speech By: Chuck Grassley