Pete Domenici: “I want the Republicans to know I have changed my mind over the past 3 or 4 weeks, and it is simply because the price of…”

“I want the Republicans to know I have changed my mind over the past 3 or 4 weeks, and it is simply because the price of oil is now up to $125 a barrel--perhaps in real dollars $110. I think for 7 months to stop filling SPR could have a chance of reducing the price by a small amount. Make no bones about it now, this is no big energy policy. This is one little thing we can do, and I think we ought to go ahead and do it. I know there are some who take the fact that we need a big reserve very seriously, and they think we ought to continue to fill it even more than we are, and I respect those views. But with reference to this amendment, by Senator Dorgan, I think we ought to support it and at least do one positive thing. It was in our bill, incidentally, as one of a number of positive things we would do, including Alaska, which is complained so much about. It would produce a million barrels permanently, more or less. This is 70,000 barrels one time--so we understand. I yield the floor.”