On the recordOctober 9, 2015
I thank Ranking Member Pallone for yielding the time. I rise in strong opposition to H.R. 702. The bill is an irresponsible giveaway to Big Oil at the expense of America's national security, at the expense of American consumers, and our longstanding policy of working towards energy independence. Now, our current policy is not a ban. You can call it a ban, but it is not a ban. It allows and promotes oil exports to strategically important allies, to places in the national interest. It is a smart policy. But now Big Oil wants free rein to ship America's natural resources to countries not in our national interest. This bill will eviscerate our thoughtful policy. Despite assertions that the oil will go to allies in Europe and elsewhere, that is not supported by the facts. Who is most likely to benefit? Experts say China. The Energy Information Administration projects that China's oil consumption will double over the next 2 decades. China has been very aggressive all across the globe in exploiting and locking down natural resources. They have gone to Africa. They have gone to South America. While we have been fighting battles in Afghanistan, they have been locking down contracts for natural resources in Afghanistan. At the same time that America is dealing with Chinese cyber espionage and their geopolitical confrontations with our allies and the U.S., why would we help China gain a strategic foothold on America's natural resources?…
