Political Quotes

“Imagine that you are a banker reviewing a corporate loan application. Over the last decade, competition has eroded this company's market share. They slashed prices in response; they burned through their cash. 250 similar companies have gone bankrupt since 2014. Would you make that loan? This is today's U.S. fossil fuel industry. Since 2010, coal demand is down 45 percent. Natural gas prices are down 40 percent. Oil prices are down 45 percent. Shale producers have chewed through $342 billion of free cash flow. Exxon just wrote off $20 billion in value. Wells Fargo booked $121 million in sector losses. And yet, the Office of the Comptroller of the Currency has recently proposed a rule to mandate that banks provide ``fair access to capital'' to this sector. They would force you to use your balance sheet to take on excessive risk without commensurate return. They would reduce our financial stability and raise our energy costs. I look forward to a full-throated and bipartisan condemnation of the OCC's attempt to use, dare I say, socialist tools to prop up an industry that is unable to succeed in the rough-and-tumble world of free-market capitalism. ____________________”