On the recordJune 14, 2011
I was listening to the previous speaker's arguments, and I'm glad to hear that he's concerned about the U.S. Navy's energy supplies, and I was going to ask him, if he had been kind enough to yield to me, whether he was in favor of us starting to develop our own energy resources here in the United States. We've got a tremendous amount of energy that our Creator has given us here in this country off the northern coast of Alaska, in the Western United States, in the gulf coast, and certainly, I would like to see the oil prices drop. The best way to get those oil prices to come down to a reasonable level is for us to start developing our own energy resources here in this country. Certainly, our oil and natural gas resources need to be developed, clean coal energy, alternative sources of energy, nuclear energy, all these other things. And I just hear all this pontification from my colleagues on the other side about the CFTC and the oil speculators. The best way to make the oil speculators lose money, which they would do when they increase the prices of oil by speculating on future prices, is by producing more oil here in this country. We've got a tremendous amount of uncertainty with all the things that are going on in the Middle East today, and that causes speculators to think the price of oil is going up. Now, I'm not one who's here arguing for the speculators by any means. I believe in the marketplace.…





