Pete Domenici: “You do not need consent. Madam President, he has a right to modify it; is that not right? The PRESIDING OFFICER. That is…”

“You do not need consent. Madam President, he has a right to modify it; is that not right? The PRESIDING OFFICER. That is correct. The amendment is so modified. The amendment (No. 805), as modified, is as follows: On page 208, after line 24, add the following: SEC. 303. SENSE OF THE SENATE REGARDING MANAGEMENT OF SPR. (a) Findings.--Congress finds that-- (1) the prices of gasoline and crude oil have a direct and substantial impact on the financial well-being of families of the United States, the potential for national economic recovery, and the economic security of the United States; (2) on June 13, 2005, crude oil prices closed at the exceedingly high level of $55.62 per barrel, the price of crude oil has remained above $50 per barrel since May 25, 2005, and the price of crude oil has exceeded $50 per barrel for approximately \1/3\ of calendar year 2005; (3) on June 6, 2005, the Energy Information Administration announced that the national price of gasoline, at $2.12 per gallon, could reach even higher levels in the near future; (4) despite the severely high, sustained price of crude oil-- (A) the Organization of Petroleum Exporting Countries (referred to in this section as ``OPEC'') has refused to adequately increase production to calm global oil markets and officially abandoned its $22-$28 price target; and (B) officials of OPEC member nations have publicly indicated support for maintaining oil prices of $40-$50 per barrel; (5) the Strategic Petroleum Reserve (referred to i…”