Henry Waxman said "I must say that we've heard comments on the floor and in committee on this bill that it's going to allow us to become less dependent, maybe not even dependent at all, on Saudi Arabia; that we'll be able to be self-sufficient and have lower prices because of this pipeline. But the truth of the matter is that some economists believe that this oil pipeline will bring oil to Texas, and that oil will either be refined or shipped as crude oil to China. It doesn't help us to have any excess oil if it's going to be picked up and shipped to China. I think that we need to always have in mind that the United States of America uses 25 percent of the world's oil resources and we have 2 percent of the source of those resources--the reserves--here in the United States. We are always going to be dependent on imported oil unless we start moving away from oil itself. I thank the gentleman for yielding." @ PoliticalQuotes.com

On the recordJuly 26, 2011

I must say that we've heard comments on the floor and in committee on this bill that it's going to allow us to become less dependent, maybe not even dependent at all, on Saudi Arabia; that we'll be able to be self-sufficient and have lower prices because of this pipeline. But the truth of the matter is that some economists believe that this oil pipeline will bring oil to Texas, and that oil will either be refined or shipped as crude oil to China. It doesn't help us to have any excess oil if it's going to be picked up and shipped to China. I think that we need to always have in mind that the United States of America uses 25 percent of the world's oil resources and we have 2 percent of the source of those resources--the reserves--here in the United States. We are always going to be dependent on imported oil unless we start moving away from oil itself. I thank the gentleman for yielding.

Said by

Henry Waxman

Democratic · California

Source

govinfo.gov

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