On the recordMay 10, 2011
I would just point out that it is skewing the statistics and not accurate to say that the U.S. only has 2 percent of the world's oil reserves. When you look at Btus, energy production, we have more energy available in this country than any other country in the world; and looking at oil specifically, we have 145 billion barrels of recoverable oil, according to the CRS. So that is much larger than what some people say. On the point of whether the President has taken a position, this is the Statement of Administration Policy on this bill, and there is no veto threat in here. So if we are fortunate to see this bill not just pass the House but the Senate as well, I am sure the White House will seriously consider this, and I would be hopeful that it would be signed into law. Madam Chairman, I yield back the balance of my time. The Acting CHAIR. The question is on the amendment offered by the gentleman from Florida (Mr. Hastings). The question was taken; and the Acting Chair announced that the noes appeared to have it.
