Our report, which was issued by myself and Senator Coburn last month, concludes that the huge number of wheat futures contracts being purchased by derivative dealers selling commodity index instruments have, in the aggregate, constituted…

Senator Coburn talked about West Texas intermediate. That contract has converged, and it has a different contract design than this contract.

Isn't the real reason that there is no problem with price convergence in Cushing, Oklahoma, is because if you have your name on that barrel of oil, you better be there in Cushing because delivery is going to happen?

So it would seem to me that there is no question that there is a direct relationship of index funds and the long-held positions that would account for some of this non-convergence.

But we do have more corn that is out there and more contracts, right?

So delivery does have a lot to do with some of this lack of convergence?

If you do all those things, won't this money go to an overseas market?

Perhaps the green jobs that the Waxman-Markey proponents are referencing aren't actually U.S. jobs, but jobs in China.

Cap-and-trade will not result in net job creation any more than it will result in reduced energy costs.

I think if we go down this path, it is going to be bad. And African-Americans are going to pay, and Hispanics, are going to pay a disproportionate share.

We could become energy sufficient in a matter of 1 year if were to open up the opportunities and exploit our own resources in this country.

I just applaud her for her honesty in response to the question that I asked.

I think if you are going to enter the NAACP paper in the record, I want to enter the actual resolution.

If Brazil does not import a drop of oil in the next 15 years, they are going to be OK.

The bill authorizes an international offsets program that allows our industries covered under the cap, including the manufacturing and refinery and other energy intensive industries, to indirectly pay for offset projects that originate in…

I think it is going to have net loss and ill effect on the United States.

Nowhere in that resolution do they endorse in any way any type of a cap-and-trade bill.

The surveys I saw, I was involved in working on this legislation, showed that it would generate 84,000 net new jobs in California.