Political Quotes

“yesterday I took the floor and discussed the problems associated with the price of oil and our increased dependence on imports from Iraq and the regime of Saddam Hussein. Yesterday, I told this body that oil had peaked at its highest price in 10 years. I am here today to tell you that oil has peaked for the second time in 2 days with the highest point in 10 years--$37.86 a barrel. There is a reaction occurring. It is rather interesting. I am going to discuss it briefly because my intention today was to talk about natural gas. Natural gas, as many of us will remember, 9 months ago was about $2.16. Deliveries in October are in the area of $5.40, a 44-percent increase in a relatively short period of time. The administration is reacting. The news today tells us that there is going to be a recommendation from the Vice President to open up the Strategic Petroleum Reserve to set up a heating oil reserve. There are a couple of things that are pending. One is the reauthorization of SPR in the EPCA bill, which is currently being held by a Member on the other side of the aisle. The administration is asking us to release the authority by passing EPCA. We are going to have to take care of that little matter first. But let's talk a little bit about the Strategic Petroleum Reserve because it is probably the most misunderstood issue on the burner today.…”