On the recordMarch 28, 2012
reserving the right to object, I believe the shipbuilding industry in Arizona is about the same size as it is in Illinois, so I don't come to this issue with any particular hometown or home State view, and I am open to the Senator's suggestion. But I would say at this moment we are clearly focused on doing one thing; that is, eliminating the $4 billion annual subsidy to the five big oil companies that registered $137 billion in profits last year. Moving to this measure was voted favorably by 92 Senators, and we are trying to move this to a vote. Perhaps we can move to another issue--the ones the Senator is proposing--at another time, but at this point, I have no other alternative but to object. The PRESIDING OFFICER. Objection is heard. Mr. McCAIN. Mr. President, I always enjoy a little dialog between myself and the Senator from Illinois. I hope he would have the same passion concerning all subsidies, including the outrageous and disgraceful subsidies that--and there is a lot of solar in the State of Arizona--a lot of solar. I will stop here, but if we are going to repeal the gas and oil subsidies, let's repeal them all. Let's repeal them all. I am not sure--again, the logic that says that if we are able to immediately reduce the cost of oil by repealing the Jones Act, which then would reduce the cost of transportation, would then reduce the cost of gasoline--why should we out of hand reject such a motion or an effort to do so?…





