On the recordMay 3, 1996
So, is it not rather ironic that suddenly we are looking for relief from Saddam Hussein who just a few years ago we tried to put in a cage because he was a threat? He was a threat to the world supply of oil. He must be laughing, saying, ``Ain't America great? Here they are, needing the contribution of Iraqi oil on the market.'' What a curious set of events. I can recall in 1971, Senator Dole, Senator McClure, Senator Simpson, Senator Metzenbaum and myself met with Saddam Hussein. It was clear at that time when we were over in Baghdad that he intended to try to control the supply of oil. The problem is, nobody believed it at that time. But here we are today, looking to Iraq to come back on line so we might relieve our dependence on imported oil. Mr. President, in the Washington Post today, Charles Krauthammer has a very interesting article. It is entitled, ``A Nation of Crybabies.'' In answer to the question of why the price is increasing, he responds by saying: ``How about--a wild guess--because supply is down and the demand is up?'' Why is the supply down? He says the country raised the speed limit. He says the sport utility roadsters are using more and more gas. He also says that crude oil production has dropped 32 percent in the last 25 years, and we will not allow drilling in the Arctic National Wildlife Refuge for fear of disturbing the mating habits of the caribou. He goes on to say more about supply: U.S. crude oil production is in serious decline. We know that.…
Source
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