Harry Reid: “the chairman of the Energy and Water Committee entered into the Record this evening a news article that was printed…”

“the chairman of the Energy and Water Committee entered into the Record this evening a news article that was printed earlier this year in the Wall Street Journal. The news article says a great deal about the debate that is taking place here tonight. We can talk about all the jobs that mining produces--and there are over 100,000 of them in the United States alone--we can talk about all the direct and indirect income that it generates for States, but the most important thing that I think brings this in proper perspective is to look at what is happening to mining today. "Gold-Mining Firms Act to Meet Price-Slump Challenge." The price of gold has dropped precipitously. The price of gold is low. As indicated in this article, "[Mining Companies] Reduce Costs, Scratch New Mines, With No Quick Relief in Sight." The article says, among other things: Mining companies are slashing costs and tearing up plans for new mines as the price of the precious metal continues to slide to three-year lows. . .[the prices] plunged to $353.40 an ounce . . . The skidding price is enough to turn many high-cost mines into money-losing duds and spoils the economics of many planned projects. Dennis Wheeler, chairman and chief executive officer of Coeur D'Alene Mines, which is headquartered in Coeur D'Alene, ID, says, "No question, * * * you will see fewer new gold mines." This is a quote from this article.”