Judd Gregg: “I rise to discuss further this issue of energy which is, of course, a massive and important priority for us as a nation…”

“I rise to discuss further this issue of energy which is, of course, a massive and important priority for us as a nation and for people simply trying to get through the day--driving to work or whatever they have to do that uses energy--with the price of gasoline at over $4 a gallon and, at least in my part of the country, the fear of oil prices next winter--which is the primary source of heating fuel for us in New England--being well into the middle $4 price range and potentially higher. That is something most people find almost inconceivable but, more importantly, it is extremely hard to afford and it puts a tremendous amount of pressure on the family budget. The question becomes: How do we address this as a culture and how do we address it as a Congress? We have had a proposal brought forward by the other side of the aisle which seems to ignore the concept of supply and demand and turns basically to trial lawyers and to taxes to try to address how you produce more energy. That is unlikely to encourage or to address this issue in a positive way. The simple fact is to set up an American procedure where you are now allowed to sue Saudi Arabia or the Gulf Emirates or Iran over their production of oil is cutting off your nose to spite your face. These are independent nations.…”