John Mica: “Oh, good. So I can tell this story, Madam Chairman. This reminds me of sitting on a committee coming here, and this took…”

“Oh, good. So I can tell this story, Madam Chairman. This reminds me of sitting on a committee coming here, and this took over some time. We always hear about high drug prices, and I sat on the committee, and everyone was railing about the price of vaccination drugs. So we dragged in the drug companies to sit them down, and I remember this guy who represented a drug company, and this was an investigative hearing. And he showed a little vial, and he said, this vial of vaccine, this medicine, only costs about $2 to produce. So we hammered him. It only cost $2 to produce, but he said that the liability on it was reaching $30, so $30 and increasing. So then we dragged in the insurance company. 'You're charging them $30 for this vaccine?' We hammered them. So they left. And then the next thing we knew was we weren't producing any vaccine in the United States because no one would insure it. So the next hearing we held--remember this, now, folks--the next hearing we held was on its now being produced in Great Britain and we had some bad batches. Well, we hadn't sent enough FDA inspectors over to inspects the batches there. Folks, these aren't the answers: additional taxation, additional regulation, chasing business off our shores. And the same thing isn't going to happen with energy. The American people get it. I just read the poll. It doesn't take a lot, folks. They know if you increase the supply, the price will go down. And we have the capability of doing that.”