On the recordMay 20, 2008
And because I'm enjoying this type of debate, I will concede the dollar price. But let me tell you why, if we had our own resources, if we were drilling our own oil, isn't it criminal that we're relying on imported crude oil to fund our energy needs? Wouldn't it be better to use American dollars to drill on American soil in American land on American OCS? Then we wouldn't have to worry about the dollar, because an American dollar is an American dollar is an American dollar. And we wouldn't have to worry about our trade imbalances because we import all of this crude oil. Now, to point two, the speculators. Do you know why they're bidding the price up? Because we won't open supply. They're taking a position that I am going to bid this up, and you know what? Those dummies in Congress, they're not going to open up more supply. So what I hold is going to cost more in the future. It's a futures market. It's risk management. They're betting about our inability to go here. Billions of barrels of oil, trillions of cubic feet of natural gas. We won't go there. They're betting against us going there.
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