Lee Terry: “I strongly oppose this amendment. This is a poison pill, especially the way that this amendment is worded. Now, the…”

“I strongly oppose this amendment. This is a poison pill, especially the way that this amendment is worded. Now, the reality here is when this infrastructure of the pipeline is completed to U.S. refineries that are expanding to be able to accept this additional crude from Canada, we will have a reliable supply of at least 700,000 barrels per day--not relying on the Middle East as the gentlelady from Texas just spoke about, wherein the Arab Spring provided great uncertainty of which speculators took advantage. But the reality here for the U.S. markets is that we won't have to deal with that uncertainty if we continue to take steps like the Keystone XL pipeline. Once again, a reliable resource of 700,000 to 1.3 million barrels per day will only deflate prices at the pump. {time} 1700 That's what the American citizens want. They want stability and reduced prices at the pump. It is a bogus argument to say that this pipeline is going to lead to an increase at the pump. It just doesn't make sense. Now, what I believe is a strained conclusion of a comment made by a TransCanada employee that they can actually charge more, well, the reality is heavy crude is heavily discounted when compared to a sweet or lighter crude that is easier and less costly to refine. So there is a discount in there.…”