Pete Domenici: “on Monday, I came to the Senate floor and discussed the rising price of gasoline and the additional increases that will…”

“on Monday, I came to the Senate floor and discussed the rising price of gasoline and the additional increases that will result from the Boxer bill. These are not talking points. They are facts from several economic studies done by the EIA, the EPA, and many other groups. Later today I will speak on the accomplishments we have already had in working together to advance policies that will strengthen our energy security and reduce our greenhouse gas emissions. We have not been asleep. We have done quite a bit. I will also speak about the bill before us and the many concerns I have about its effectiveness, or lack thereof. Right now, I want to speak on the impact this bill will have on the American economy. Like many Senators, I believe global climate change is a great challenge that our Nation should address. I joined Senator Bingaman in expressing that sentiment in a bipartisan Senate resolution 3 years ago. That does not mean anybody has produced a bill or legislation that matched up, in my opinion, with the concerns. The way we are doing it in this bill is one way. It has never worked any place it has been tried. I do not know why it should be expected to work in America. I have great respect for the Senators who have drafted cap-and-trade legislation, but I remain deeply concerned about the steep costs and dire consequences this bill will have on our Nation's economy. I am troubled it will have very little, if any, environmental benefit.”