Political Quotes

“The speculation issue, this morning we had a fellow from the Connecticut Petroleum Retailers Association come in and talk to us about speculation. You and I didn't have enough time to put this together, we talked about this beforehand, because we were both taken by the information he provided. It is really not new information, but it is very interestingly put on the issue of speculation. Forgive me, general public and forgive me, Ms. Speier, but I just decided to put this together on the back of this Make It in America chart because America was taken to the cleaners in 2008. This is what happened to the price of a barrel of oil in 2008. Now keep in mind in 2008 the wars were going on, but there was no real change in the wars. In March of 2008, a barrel of oil cost $70 a barrel in the United States, and I guess worldwide also. So March of 2008, it was $70 a barrel. Nothing happened, no big change. The Straits of Hormuz were not shut down; Venezuela and Nigeria and other countries continued to pump oil, as they had before. But between March of 2008 and July of 2008, what's that, 4 months, 5 months, the price went from $70 a barrel to $147 and gasoline was very close to $5 a gallon. So oil went from $70 to $147--doubled, doubled in price--in just a period of time from March, April, May, June until July of 2008. And then the speculators broke and the price plummeted between July to November to $32 a barrel. Now this has nothing to do with the production of oil around the world.…”