Political Quotes

“Madam President, I would like to speak this morning on an issue that I believe is of great importance to our economy and to our national security. In recent weeks, we have seen political turmoil in Libya and Egypt and Tunisia and throughout the Middle East and other North African nations. Only time will tell what the outcome of these historic events will be. What is clear, however, is that there is, once again, disruption in the worlds's petroleum supplies as a result of the turmoil in this region of the world, and American consumers and businesses are feeling the brunt of it. In the United States, we have seen the price of gasoline and other petroleum products increase dramatically. The pain is particularly sharp at the pump. Over the last few weeks, retail gasoline prices have risen to more than $3.50 a gallon. They are expected to rise to more than $3.70 a gallon during the peak summer driving season and, of course, they could go substantially higher. This is a reflection of what is happening in the crude oil commodity markets around the world. In fact, the Energy Information Administration's latest forecast of the average West Texas spot price for the remainder of this year increased from $93 a barrel to more than $100 a barrel. The EIA expects continued tightening of world oil markets in the next 2 years in light of the events in North Africa and in the Middle East.…”