Pete Domenici: “the Senate passed one of the most important bills it has considered this year. We passed legislation that I believe is…”

“the Senate passed one of the most important bills it has considered this year. We passed legislation that I believe is the most important thing we can do in the near-term to stabilize our energy prices and expand our energy supply. This is American can-do legislation. With this bill, we are bringing vast reserves of American energy onshore from the American real estate that we own out in the ocean. We are doing it safely, cleanly, and responsibly. We are bringing this clean energy onshore so our businesses can prosper, our farmers can prosper, and American families can have much needed relief from high energy costs. Right now, energy is on all of our minds. Oil prices continue to climb because of instability in oil rich regions. Today, oil hovers at just below $75 a barrel. Natural gas prices are climbing because of the intense heat in many regions of our country. This week, the price jumped 11 percent in 1 day, and right now it is at $8.05 per million Btu--that price is four times higher than it was 6 years ago. Let me tell you why Americans care so much. Between 1999 and 2005, the price of natural gas in the United States increased by 289 percent. At the same time, we lost over 3 million U.S. jobs in the manufacturing sector. The heat wave gripping our Nation has made energy supply and energy prices a topic of real concern for all of us.…”