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Senate Proceeding on Aug 1st, 2008 :: 0:10:19 to 0:25:49
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Chuck Grassley

0:08:59 to 0:10:19( Edit History Discussion )
Speech By: Chuck Grassley

Chuck Grassley

0:10:07 to 0:10:19( Edit History Discussion )

Chuck Grassley: that people on this side of the aisle want to move things along. i ask ... mr. grassley: i ask unanimous consent that the committee on finance be discharge ed from further consideration of s. 3322

Robert P. Casey, Jr.

0:10:19 to 0:10:26( Edit History Discussion )

Robert P. Casey, Jr.: and the senate proceed to immediate consideration. i ask unanimous consent that the grassley amendment at the desk be agreed to, the bill as amend amended be read a third time and passed, the motion

Robert P. Casey, Jr.

0:10:19 to 0:25:49( Edit History Discussion )
Speech By: Robert P. Casey, Jr.

Robert P. Casey, Jr.

0:10:26 to 0:10:36( Edit History Discussion )

Robert P. Casey, Jr.: to reconsider be laid on the table, and a bill be held at the desk pendle ingdl further house action. the presiding officer: is there objection?e mr. durbin: reserving the right to object, mr. president,

Robert P. Casey, Jr.

0:10:36 to 0:10:47( Edit History Discussion )

Robert P. Casey, Jr.: this was the same request that was made last night. but on behalf of senator baucus, the chairman of the senate finance committee, i object. the presiding officer: objection is heard. the senator

Robert P. Casey, Jr.

0:10:47 to 0:10:59( Edit History Discussion )

Robert P. Casey, Jr.: from pennsylvania is recognize ed. mr. casey: mr. president, thank you very much. i rise this morning to talk about an issue that we've talked a lot about here on in the senate for weeks and now months

Robert P. Casey, Jr.

0:10:59 to 0:11:10( Edit History Discussion )

Robert P. Casey, Jr.: literally and we haven't reached a resolution on it, and that's the question of energy and gasoline and what's been happening to our economy, what's been happening to our families. there's plenty

Robert P. Casey, Jr.

0:11:10 to 0:11:24( Edit History Discussion )

Robert P. Casey, Jr.: of blame to go around. i'm not here to do that today. but i do think that nilg that we talk about -- but i do think that anything that we talk about and certainly anything that we legislate on has to

Robert P. Casey, Jr.

0:11:24 to 0:11:34( Edit History Discussion )

Robert P. Casey, Jr.: pass two tests. one fest is will it provide short-term relief to families or short-term help to the economy? and will it help long-term? and if it doesn't pass the short short-term and/or the long-term

Robert P. Casey, Jr.

0:11:34 to 0:11:44( Edit History Discussion )

Robert P. Casey, Jr.: test, we shouldn't be doing t and that's kind of the frame of what i wan to use to talk about some of the issues that i'm going to raise this morning. mr. dorgan: mr. president, would the the senator

Robert P. Casey, Jr.

0:11:44 to 0:11:55( Edit History Discussion )

Robert P. Casey, Jr.: yield for a unanimous consent request? mr. casey: sure. mr. dorgan: i apologize. i ask unanimous consent that i be recognize ed following the senator from pennsylvania. the presiding officer: is there objectionob??

Robert P. Casey, Jr.

0:11:55 to 0:12:09( Edit History Discussion )

Robert P. Casey, Jr.: mr. dorgan: i ask unanimous consent i be recognize ed for 20 minutes. the presiding officer: without objection, so ordered. mr. casey: i thank the senator from north dakota what i promised i would do.

Robert P. Casey, Jr.

0:12:09 to 0:12:22( Edit History Discussion )

Robert P. Casey, Jr.: thanyou very much. so i wanted to talk about this in terms of short-term and long long-term, because one thing that's been missing from this debate, frankly, on both sides is sometimes not nearly enough honesty.

Robert P. Casey, Jr.

0:12:22 to 0:12:35( Edit History Discussion )

Robert P. Casey, Jr.: a lot of charges and counter countercharges, a lot of finger-pointing and not enough progress. and i think for one party or the other in the senate to blame the other is really not productive, nor is

Robert P. Casey, Jr.

0:12:35 to 0:12:47( Edit History Discussion )

Robert P. Casey, Jr.: it accurate. so let's talk about short-term and long-term. there are some things we can do short-term to help this problem. no one here has a magic wand to say, if we take this action, gas prices

Robert P. Casey, Jr.

0:12:47 to 0:12:56( Edit History Discussion )

Robert P. Casey, Jr.: are going to go down in the next couple of weeks. noin who says that anyone who says that is probably not telling the truth, maybe not even in the course of the next couple of months. but there are

Robert P. Casey, Jr.

0:12:56 to 0:13:09( Edit History Discussion )

Robert P. Casey, Jr.: some things we should try to do in the short short-term before we abandon that and say, all we can do is look to the long-term, which we know is renewable energy and all of those strategy ies p but

Robert P. Casey, Jr.

0:13:09 to 0:13:20( Edit History Discussion )

Robert P. Casey, Jr.: let's talk about the short-term. i think yesterday, a number of senators -- i think the total is 36; i stand corrected if i am wrong about that. but at least 35 or 36 united states senators wrote to

Robert P. Casey, Jr.

0:13:20 to 0:13:32( Edit History Discussion )

Robert P. Casey, Jr.: the president. united states -- wrote to the president of the united states and i'd ask that the letter regarding the strategic petroleum reserve, that that letter be made part of the record. the presiding

Robert P. Casey, Jr.

0:13:32 to 0:13:45( Edit History Discussion )

Robert P. Casey, Jr.: officer: warped. -- the presiding officer: without objection, so ordered. mr. casey: i won't read the whole letter, but here's how it starts, "dear mr. president: we're writing today to urge you

Robert P. Casey, Jr.

0:13:45 to 0:13:58( Edit History Discussion )

Robert P. Casey, Jr.: to use your emergency authority to immediately release oil from the strategic petroleum reserve reserve." it goes on later in that paragraph to say, "a similar a announcement made by your father

Robert P. Casey, Jr.

0:13:58 to 0:14:13( Edit History Discussion )

Robert P. Casey, Jr.: father, president george h.w. bush in 1991 led to oil prices -- led oil prices to decline within a day of the announcement announcement, even though the actual release of oil did not occur for two weeks.

Robert P. Casey, Jr.

0:14:13 to 0:14:30( Edit History Discussion )

Robert P. Casey, Jr.: " so when that happened in 1991, oil prices went down very rapid rapidly. the same happened in -- with this president bush after -- in the aftermath of hurricane katrina. so what we ask is that

Robert P. Casey, Jr.

0:14:30 to 0:14:46( Edit History Discussion )

Robert P. Casey, Jr.: the president, he doesn't need congress, he doesn't need to get a consensus here in washington. the president has the authority today -- today -- to rlts release oil from the strategic petroleum

Robert P. Casey, Jr.

0:14:46 to 0:15:00( Edit History Discussion )

Robert P. Casey, Jr.: reserve. so the letter towards the end says, "we ask that you take immediate action to begin to implement this modernization of the reserve by release ing 70 million barrels of light sweet crude oil,

Robert P. Casey, Jr.

0:15:00 to 0:15:14( Edit History Discussion )

Robert P. Casey, Jr.: about 10% of the current reserve inventory." so i'm quoting in part from the letter, but the point is, the president of the united states today -- today -- has the -- all the power and the authority to

Robert P. Casey, Jr.

0:15:14 to 0:15:26( Edit History Discussion )

Robert P. Casey, Jr.: take that action. will it be a magic wand? no. will it immediately lower oil prices? probably not. but it has the potential because of the precedence of what happened before, the recent history on

Robert P. Casey, Jr.

0:15:26 to 0:15:36( Edit History Discussion )

Robert P. Casey, Jr.: this, to bring down prices. so that's something that's short short-term that the president could do right now. i hope he would do that. but let's talk about long-term. one thing we all agree upon here

Robert P. Casey, Jr.

0:15:36 to 0:15:49( Edit History Discussion )

Robert P. Casey, Jr.: here, both sides of the aisle, we can fight and we can point fingers and we can have argument arguments and debates, and it's okay to debate. but one thing we all agree on, no matter what party we're

Robert P. Casey, Jr.

0:15:49 to 0:16:01( Edit History Discussion )

Robert P. Casey, Jr.: in -- and this is something the american people understand in their gut; they get this and they understand this -- we have to take steps now that we should have taken 10 years ago or maybe 20 or 25 years

Robert P. Casey, Jr.

0:16:01 to 0:16:14( Edit History Discussion )

Robert P. Casey, Jr.: ago that we didn't take to reduce our dependence on foreign oil and to get to this question of re renewables. and we had that chance a couple of times in the last 18 months. we had that chance just

Robert P. Casey, Jr.

0:16:14 to 0:16:29( Edit History Discussion )

Robert P. Casey, Jr.: a few days ago, but it was blocked. a lot of people in this body voted for it. we didn't get enough ves. but here's what was blocked. let me just run threw through a quick list because sometimes when

Robert P. Casey, Jr.

0:16:29 to 0:16:43( Edit History Discussion )

Robert P. Casey, Jr.: these votes votes occur we forget that was voted on and here's what was blocked a couple of days ago. a new consumer tax credit for the purchase of plug-in electric vehicles to move that tax credit

Robert P. Casey, Jr.

0:16:43 to 0:16:55( Edit History Discussion )

Robert P. Casey, Jr.: from $3,000 to $5,000. plug-in electric vehicles. that was blocked. a one-year extension of wind power tax credit. that was blocked. a three-year extension of bio biomarks geothermal and other re renewable

Robert P. Casey, Jr.

0:16:55 to 0:17:07( Edit History Discussion )

Robert P. Casey, Jr.: energy tax credits. that was blocked. an extension of the 30% in investment tax credit for solar energy. that was blocked. an extension of the 10% in investment tax credit for fuel cells. that was blocked.

Robert P. Casey, Jr.

0:17:07 to 0:17:21( Edit History Discussion )

Robert P. Casey, Jr.: a five-year extension of the tax deduction for energy-efficient commercial buildings. we know we have do that. that was blocked. a three-year extension of a tax credit for energy-efficient appliances.

Robert P. Casey, Jr.

0:17:21 to 0:17:31( Edit History Discussion )

Robert P. Casey, Jr.: that was blocked. so on issue after issue that get those this question of reducing our dependence on important oil, getting off of oil generally, not just foreign oil but getting off the depennce on

Robert P. Casey, Jr.

0:17:31 to 0:17:47( Edit History Discussion )

Robert P. Casey, Jr.: oil, all of these renewable energy strategy ies that everybody in the country knows we got to do, they were blocked here a couple of days ago and we should remind people who are paying attention

Robert P. Casey, Jr.

0:17:47 to 0:17:56( Edit History Discussion )

Robert P. Casey, Jr.: to this that that actually happened. now, we have a debate currently about speculation. i am not going to spend a lost time on that. it is not a magic wand. i've said that b but it is one of the ways,

Robert P. Casey, Jr.

0:17:56 to 0:18:07( Edit History Discussion )

Robert P. Casey, Jr.: probably more long long-term than short-term, but it is one of the ways that we have to provide some relief long long-term. so these are strategy ies that whether it's speculation, crack cracking down

Robert P. Casey, Jr.

0:18:07 to 0:18:18( Edit History Discussion )

Robert P. Casey, Jr.: and providing more sunlight -- that's all we're asking for is to say if you want to make a lot of money in the market and we've got a commodity commodities future entity that regulates your conduct,

Robert P. Casey, Jr.

0:18:18 to 0:18:30( Edit History Discussion )

Robert P. Casey, Jr.: we want to give them the authority to provide sunlight to that trans transaction. that's all we're asking. that's all we're asking on speculation. so speculation passes maybe both but at least one of

Robert P. Casey, Jr.

0:18:30 to 0:18:41( Edit History Discussion )

Robert P. Casey, Jr.: the short short-term/long-term -- one of that two-part test. this letter to the president on the strategic petroleum reserve, that certainly passes the short short-term test that we can get some

Robert P. Casey, Jr.

0:18:41 to 0:18:54( Edit History Discussion )

Robert P. Casey, Jr.: short-term help. not a magic wand but it can provide some help. so what else do we need to talk about? we've been talking and talking a will the about drilling. let's put some facts on the table. some

Robert P. Casey, Jr.

0:18:54 to 0:19:05( Edit History Discussion )

Robert P. Casey, Jr.: of these facts haven't been on the t able. it's important to do that. i know that there are a lot of people out there saying, if we could just drill, we could have some relief provided. i would

Robert P. Casey, Jr.

0:19:05 to 0:19:19( Edit History Discussion )

Robert P. Casey, Jr.: argue -- and i think there's a lot of evidence to show this -- that the drilling argument put forth by the other side doesn't pass the short-term test and doesn't pass the long long-term test. doesn't

Robert P. Casey, Jr.

0:19:19 to 0:19:33( Edit History Discussion )

Robert P. Casey, Jr.: pass either test. and we know that. here's the -- here's the -- here here's part of what should be on the table in terms of facts. all these -- all these years since the president has been in of

Robert P. Casey, Jr.

0:19:33 to 0:19:43( Edit History Discussion )

Robert P. Casey, Jr.: course, the price of goose lean has gone up n my home state of pennsylvania, people are paying more in a year, almost $2 $2,800 more for gasoline than they were when the administration started. okay? now that's

Robert P. Casey, Jr.

0:19:43 to 0:19:58( Edit History Discussion )

Robert P. Casey, Jr.: just a fact. we know the price of gasoline has gone up. everyone understands that. but while the price of gasoline was going up over the last couple of years, guess what else was going up? and this

Robert P. Casey, Jr.

0:19:58 to 0:20:10( Edit History Discussion )

Robert P. Casey, Jr.: hasn't been talked about much. a 361% increase in oil drilling. so we've increased oil drilling a lot. some might argument that we've never drilled more. a 361% increase in oil drilling since

Robert P. Casey, Jr.

0:20:10 to 0:20:25( Edit History Discussion )

Robert P. Casey, Jr.: the president came into office and yet the price of gasoline has gone up at the same time. so this idea that oil drilling has been restrictd restricted or limited is just contrary to the facts.

Robert P. Casey, Jr.

0:20:25 to 0:20:39( Edit History Discussion )

Robert P. Casey, Jr.: so how can that be? if the other side keeps talking about drilling leading to relief relief, how can it be that we've had that increase? and whether you measure it by the increase in drilling or the leases

Robert P. Casey, Jr.

0:20:39 to 0:20:54( Edit History Discussion )

Robert P. Casey, Jr.: -- we've had a dramatic increase in the number of lease leases. so that's fact number one. 361% increase in oil drilling since the administration started started. here's another fact. 79% of america's

Robert P. Casey, Jr.

0:20:54 to 0:21:10( Edit History Discussion )

Robert P. Casey, Jr.: recoverable oil reserves are already open for drilling. 9% are open-- --79% are open, open for business right now. so there's plenty of drilling going on. in fact it's accelerated and yet the price of

Robert P. Casey, Jr.

0:21:10 to 0:21:27( Edit History Discussion )

Robert P. Casey, Jr.: gasoline has gone up. and the 24% versus 3% argument that i and others have made. "the washington post" made -- had a chart on sunday, sunday, july 27, page a-8. and they have a chart right there. this

0:21:27 to 0:21:43( Edit History Discussion )

chart in red.~ it reads very simply "the percent of the world's oil consumed in the united states by 2007, 24.4%." so we are consuming more of the world's oil and it is up to 24%. so if you want to drill

Robert P. Casey, Jr.

0:21:43 to 0:21:57( Edit History Discussion )

Robert P. Casey, Jr.: your way to that 24% of the world's oil, because that's what the other side's saying, then we must be, i guess, hoping to produce enough to get there. well, we know that america has only 3% of the

Robert P. Casey, Jr.

0:21:57 to 0:22:11( Edit History Discussion )

Robert P. Casey, Jr.: world's oil reserves. so no matter what we do on drilling. even if we add to the massive drilling due to the massive increase that we've had in drilling, it's not going to get us to 24.4% consumption.

Robert P. Casey, Jr.

0:22:11 to 0:22:25( Edit History Discussion )

Robert P. Casey, Jr.: so that's why we have to get to renewables. so when we say -- when people across america say we can't drill our way out of it. it is not just a nice, little phrase, it's the truth. you can't get to

Robert P. Casey, Jr.

0:22:25 to 0:22:39( Edit History Discussion )

Robert P. Casey, Jr.: 24.4% if you only have 3% of the reserves no matter what you do on drilling. and, finally, and i won't spend a lot of time on this, but it's relevant to the discussion. you know, one party here that

Robert P. Casey, Jr.

0:22:39 to 0:22:53( Edit History Discussion )

Robert P. Casey, Jr.: hasn't really checked in in the debate to give us a little help are the oil companies. you know, members of the house and senate are debating and sometimes fighting. the american people are arguing

Robert P. Casey, Jr.

0:22:53 to 0:23:07( Edit History Discussion )

Robert P. Casey, Jr.: about this. all the way this debate's going on, all the way, guess who's getting our tax money, tens of billions, and guess who's also doing pretty well in their quarterly profits, big o. and i've said

Robert P. Casey, Jr.

0:23:07 to 0:23:20( Edit History Discussion )

Robert P. Casey, Jr.: it before and i'll stay again, president kennedy was right, once in a while we have to ask ourselves, what can we do for our country? and i have to ask mr. big oil, what are you doing for your country?

Robert P. Casey, Jr.

0:23:20 to 0:23:35( Edit History Discussion )

Robert P. Casey, Jr.: while we're having this debate and while everyone's frustrate bid gas prices -- frustrated by gas prices an rightfully so, what is -- and rightfully so, what is big oil doing? exxonmobil released

Robert P. Casey, Jr.

0:23:35 to 0:23:46( Edit History Discussion )

Robert P. Casey, Jr.: their quarterly profits, one quarter almost $12 million in profits. and we're giving them tax breaks. so they've got all the drilling they need. they're getting our tax money, and their quarterly profit

Robert P. Casey, Jr.

0:23:46 to 0:23:59( Edit History Discussion )

Robert P. Casey, Jr.: is $11 billion and they're not checking. in they're not saying -- or we're not saying to them by legislation, we want to do, it i want to do it, but we don't have enough votes on the other side.

Robert P. Casey, Jr.

0:23:59 to 0:24:12( Edit History Discussion )

Robert P. Casey, Jr.: to say, you know what, mr. big oil, with $11 billion in profits and lots of tax breaks over the years now, you've got enough. you've got enough tax breaks, you've got enough places to drill. you've

Robert P. Casey, Jr.

0:24:12 to 0:24:29( Edit History Discussion )

Robert P. Casey, Jr.: got enough. it's time for mr. big oil to give a little. to help us a little. until they check in and until they help the american people or until we force them to help the american people, we're

Robert P. Casey, Jr.

0:24:29 to 0:24:42( Edit History Discussion )

Robert P. Casey, Jr.: going to be missing a lot of opportunities. so i think, mr. president, i'll conclude with this. i think that we should continue this important debate and i'm happy that -- i'm happy that the majority leader

Robert P. Casey, Jr.

0:24:42 to 0:25:00( Edit History Discussion )

Robert P. Casey, Jr.: who i think has shown great leadership on this issue, has continued to work in a bipartisan way and wants to have a summit, a meeting with both parties. that's important to get something done. i think

Robert P. Casey, Jr.

0:25:00 to 0:25:12( Edit History Discussion )

Robert P. Casey, Jr.: we can. but if -- if we don't start dealing with facts and start dealing with that test, what will help us short term? but more importantly, what will help us long term? and that is renewables. until we get

Robert P. Casey, Jr.

0:25:12 to 0:25:34( Edit History Discussion )

Robert P. Casey, Jr.: to the question of renewables and until more people on the other side start voting to incentivize the creation of renewable sources of energy, we're not going to make much progress on this. so i think

Robert P. Casey, Jr.

0:25:34 to 0:25:49( Edit History Discussion )

Robert P. Casey, Jr.: we need to focus on that test. and we need to make sure that we're working in a bipartisan way to try to bring some relief to american families. mr. president, i yield the floor. a senator: mr. president?

Byron Dorgan

0:25:49 to 0:26:02( Edit History Discussion )

Byron Dorgan: the presiding officer: the senator from north dakota is recognized. for 20 minutes. mr. dorgan: mr. president, i come today as a united stateste senator, but also as the cochairman of the congressional

Byron Dorgan

0:25:49 to 0:44:40( Edit History Discussion )
Speech By: Byron Dorgan

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