Chris Murphy: “Ms. Wasserman Schultz, just to put it in real stark terms here, 2002 to 2008, the oil industry we are talking about…”

“Ms. Wasserman Schultz, just to put it in real stark terms here, 2002 to 2008, the oil industry we are talking about here, goes from $6.5 billion in profit, that is pretty good, you are going to take that, that is a good year, to 2008, $36.9 billion in profit. We still haven't figured out why that is. Why is it that the oil industry and the drug industry are two of the most profitable industries in the world? Because they cornered the market, right? You have got to take that drug. You have got nowhere else to go. If that drug keeps you alive and nobody else makes that drug, you have got to buy that drug. If the only thing that gets you from point A to point B is the product that Exxon and Chevron and BP make, then they can charge whatever they want. So we can talk about the margins here. We can talk about producing a little more. But, in the end, the reason why they get to just basically decide whatever they want, they can make $6.5 billion one year and $36.9 billion the next year, it is up to them, because they know whatever they charge, we will pay, because we have no alternative.”