On the recordJuly 27, 2022
Madam President, reserving the right to object, here is what the Senator from Texas is saying: It is fine to sell to China so long as you are a big American oil company and profiting off of it. That is the bottom line. The Senator had the chance to endorse the policy that would have stopped all American exports to China. If the priority is to not enrich the Chinese Government, then let's enact that policy. What Senator Cruz is essentially saying is that if the end result is massive profits for the oil company, then we are just going to look the other way. Then we are just going to look the other way. The strategic petroleum reserve? No, we are going to keep that oil here. That can't go to China. That would be an immoral abomination if the Chinese got their hands on that oil. But if the end result is that oil companies get to pad their profits by selling oil to the Chinese, well, then that is fine. Well, then, that is fine. So let's be 100 percent clear in what is happening here. If your priority is not selling oil to China, then let's make that the policy. Let's make that the policy. But that is not the priority. The priority is to make sure the oil companies can make as much money as possible. ExxonMobil expects to make $10 billion in profit--not revenue, in profit--in the second quarter of this year. So I don't apologize for a second for making my priority the people of this country, not the profits of the oil companies.…
Source
govinfo.gov




