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Senate Proceeding on Jul 25th, 2008 :: 1:03:24 to 1:07:39
Total video length: 5 hours 44 minutes Stream Tools: Stream Overview | Edit Time

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Amy Klobuchar

0:47:21 to 1:03:24( Edit History Discussion )
Speech By: Amy Klobuchar

Amy Klobuchar

1:03:11 to 1:03:24( Edit History Discussion )

Amy Klobuchar: increases. i understand, mr. psident, that we have a market-based economy. it's fine for companies to make money on the products they sell. they should. but when we're dealing with the well-being of

Thomas Carper

1:03:24 to 1:03:36( Edit History Discussion )

Thomas Carper: sick patients, babies, and the elderly and everyone in between, we know that something's wrong here. these companies can't be allowed to make money off the backs of little babies that have holes in

Thomas Carper

1:03:24 to 1:07:39( Edit History Discussion )
Speech By: Thomas Carper

Thomas Carper

1:03:36 to 1:03:52( Edit History Discussion )

Thomas Carper: their hearts. i hope yesterday's hearing is a starting point for addressing the problems that accompany such enormous priceus increases. problems that have been plaguing our doctors, our insurance companies,

Thomas Carper

1:03:52 to 1:04:06( Edit History Discussion )

Thomas Carper: our medicare and medicaid programs, and most importantly our patients for far too long. thank you, mr. president, and i yield the floor. a senator: mr. president? the presiding officer: the senator from

Thomas Carper

1:04:06 to 1:04:14( Edit History Discussion )

Thomas Carper: delaware. mr. carper: good morning, mr. president. i appreciate the opportunity to talk for a f few minutes about the, really two subjects. first of all, the legislation, one or two pieces of legislation

Thomas Carper

1:04:14 to 1:04:29( Edit History Discussion )

Thomas Carper: that came before us today dealing with speculation in the oil markets. i want to talk a little bit about that and maybe a word or two, if time permits, on the housing legislation which we've just taken

Thomas Carper

1:04:29 to 1:04:46( Edit History Discussion )

Thomas Carper: another step forward toward enacting. on this chart that we see, a couple of numbers mentioned. in a moment i hope it will become clear why they are relevant to this argument with respect to oil

Thomas Carper

1:04:46 to 1:05:02( Edit History Discussion )

Thomas Carper: prices. the first number is 25%. we consume as nation today this week, this month, this year roughly 25% of the oil that's consumed on our planet. 25%. but, we have, within this nation onshore and

Thomas Carper

1:05:02 to 1:05:12( Edit History Discussion )

Thomas Carper: offshore, less than 5% of the world's oil reserves. and when people wonder why prices are running up, thi is one of the reasons. when people say we ought to just simply drill, whether it's in the arctic

Thomas Carper

1:05:12 to 1:05:25( Edit History Discussion )

Thomas Carper: national wildlife refuge or on the outer continental shelf, drilling is part of the answer, not necessarily in those places, but drilling is part of the answer. but when you have, when you're consuming

Thomas Carper

1:05:25 to 1:05:35( Edit History Discussion )

Thomas Carper: 25% of the world's oil every day and we have less than 5% of the world's known oil reserves, there's a mismatch here. and that suggests to, among others, that t. boone pickens, a long time renowned texas

Thomas Carper

1:05:35 to 1:05:49( Edit History Discussion )

Thomas Carper: oil man, that this is a problem we can't just drill ourselves out of. and while drilling is part of the solution, it is by no means the entire solution. what we need is a comprehensive strategy. i

Thomas Carper

1:05:49 to 1:06:05( Edit History Discussion )

Thomas Carper: want to talk a little bit about that this morning. we've had any number of hearings in recent weeks, actually in recent months here in this senate that focus on why are oil prices, why are gas prices

Thomas Carper

1:06:05 to 1:06:18( Edit History Discussion )

Thomas Carper: going up? i keep coming back to three major reasons. and the first of those is supply and demand. there's a limited amount of oil that's being produced. the nations that have most of it in their control

Thomas Carper

1:06:18 to 1:06:32( Edit History Discussion )

Thomas Carper: don't want to produce a whole lot more. they don't want to increase supply dramatically. demand, meanwhile, continues to rise. we're a country where we're in love with our cars, trucks, and vans. for

Thomas Carper

1:06:32 to 1:06:44( Edit History Discussion )

Thomas Carper: every 1,000 americans in this country today, there are about 800 vehicles. pretty amazing isn't it? 800 vehicles for every 1,000 people would live here. in china, for every thousand people who

Thomas Carper

1:06:44 to 1:06:57( Edit History Discussion )

Thomas Carper: live in china, they have 16 karz, trucks and vans. i don't know that they want to get to 800 right away, but they're going to have a lot more than 16 per thousand. they may have 116, 216, 316. but

Thomas Carper

1:06:57 to 1:07:08( Edit History Discussion )

Thomas Carper: they want -- they want to be able to have their own vehicles, and they are adding dramatically to the number of vehicles on the road. that, along with the growth of the economy in other aspects of the

Thomas Carper

1:07:08 to 1:07:18( Edit History Discussion )

Thomas Carper: economy in china. places like india have seen a dramatic increase in demand, and we're going to continue to see that, that increase in demand. a second thing that's going on here is the drop in the

Thomas Carper

1:07:18 to 1:07:28( Edit History Discussion )

Thomas Carper: value of the dollar. the dollar today is not worth what it used to be. friends of mine came back from traveling in europe and tell me how unfortunate they felt in having gone this year instead of

Thomas Carper

1:07:28 to 1:07:39( Edit History Discussion )

Thomas Carper: about three or four years ago because the value of the dollar has dropped by roughly a third against most of the european currencies. in fact, it's dropped dramatically in currencies around the world.

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