Political Quotes

“This is the final amendment to H.R. 992, which will not kill the bill or send it back to committee. If adopted, the bill will immediately proceed to final passage, as amended. My amendment is a simple, straightforward improvement that I believe both sides can agree is absolutely necessary and that I believe is also supported by the majority of the American people. If my amendment passes, it will ensure that the American people, consumers, families, and businesses are protected from reckless speculation that is driving up the price of gas at the pump. Specifically, my amendment ensures that nothing in this act would limit the ability of regulators to go after excessive speculation and manipulation of oil and biofuels. It simply clarifies that bank regulators have the authority to stop manipulation in the commodity markets. This amendment also protects the wallets and pocketbooks of all Americans by ensuring that banks will not be given a free pass to destabilize commodity markets and drive up energy prices for all Americans at the pump. Mr. Speaker, as you know, speculation in the energy sector is a very real, a very present, and a very serious problem. Volatility in oil markets since 2008, and more recently in biofuels, leads to dramatic price swings, causing pain for every American who depends on gasoline at the pump. In September, The New York Times reported that prices for biofuel credits had recently surged 20-fold in just 6 months.…”