Ed Markey: “I thank the gentleman. So last year the oil industry made $137 billion in the United States. This year, of course…”

“I thank the gentleman. So last year the oil industry made $137 billion in the United States. This year, of course, heading to $5 a gallon gasoline. They're tipping American drivers upside-down so fast that they'll probably make $200 billion. They've got to raise about another $40 billion to pay for this transportation bill. They could take away the $4 billion in tax breaks each year over 10 years, $40 billion that they give to ExxonMobil. They really don't need that money. The taxpayers shouldn't have to pay twice, once at the pump and then once as taxpayers. So they could have solved all of this just by taking away the oil tax breaks. But here's what they do: They say, one, we can drill for shale in Colorado and Wyoming. And we know that Shell Oil and the Department of Interior say that there is no commercially available technology. Two, they can drill in the Arctic refuge, but we know that there are no votes in the Senate to make it possible for that to happen. And three, their next proposal is to drill off of the beaches of California and Florida for oil--off the beaches. The Republicans are lining up themselves in these States to say I want to make the amendment to make sure we don't do that. So, none of this is going to happen in terms of the revenues that they say they're going to generate. These are phantom revenues from phantom drilling that's never going to happen. Moreover, they want to export the natural gas out of our country. Well, let me tell you what T.…”