Political Quotes

On the recordJune 23, 2008
I would point out that the 41 million acres that the Chair of the committee alluded to is actually 41 million acres under water. According to the latest statistics, that represents some 80 percent of the proven reserves that are available in terms of offshore waters. So I don't know where the gentleman gets his statistics, but I would think after we pass this Responsive Government Act, that we could sit down and work out some legislation that would rescind those leases that are currently being banked by leaseholders and the consequences of which are reducing the supply of oil and gas so that as the demand increases, naturally the price explodes. We cannot afford to have given away our natural resources to major oil companies and have them sit on it and do absolutely nothing, because the gentleman is right, and he well knows it, that the American people are hurting.
Said by
Bill Delahunt
Massachusetts

Editor's note · Context

Discussing offshore oil and gas leases and their impact on supply and prices.

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