We need to build confidence about new supplies both North America and internationally.

But you extend the life of conventional fuels. They're cleaner. They're safer. But they go on longer.

I want to explore a little bit more on this issue on where we are with spare capacity.

Thank you. I appreciate the fact that you have come all the way to be part of the testimony this morning. Very credible panel. You have certainly enhanced that credibility. We appreciate that.

I'm going to ask you a more specific question, if I may.

Our oil imports have declined from 60 percent in 2005 to the latest number I've seen in your numbers, Howard, 44 percent.

We recognize that there are a lot of different factors that are driving up the fuel costs.

including, Senator Murkowski, in Alaska with respect to TAPS which we need to get on

U.S. oil production is up 20 percent since 2008, over 1.1 million barrels a day.

I think your focus on spare capacity really goes to the heart of the matter.

I think realistically we know that there are no quick and easy answers to the fact that we are seeing significantly high prices at the pump.

I just want you to know that we want to continue that moving forward and would ask that you would make that information available to my office.

I want to thank you for your service. In the three years that you have been there under the Obama Administration, we have seen dramatic improvement on the SBA as an advocate for small business.

I want to share the concern that Senator Snowe has raised on the efficiencies of our credit programs to help small business.

I am going to ask you to advise one of my bankers in their efforts to comply with the record keeping requirements of the Volcker Rule.

Another way--an additional way to deal with our growing deficit is to grow the economy.

In my view, the Congress and the administration has failed to do much of anything about the deficits.

The only--I think, Mr. Chairman, the only other question I would ask is, this is a question that Senator Kirk asked me to ask in regard to taxpayers being made whole in their investments and the rescue of Freddie Mac and Fannie Mae.