Political Quotes

“This amendment prohibits fossil fuel companies that have engaged in stock buybacks over the last decade from leasing land for oil production, particularly with respect to the strategic reserve. I sat here for much of today and listened to many of my colleagues, particularly those on the opposite side of the aisle, introduce amendments and legislation that conveniently benefit the fossil fuel industry while fearmongering about things like the Green New Deal and positive climate action, to which I say: Boo. Last year, four of the major oil companies, Shell, Chevron, BP, and ExxonMobil posted record profits totaling $75 billion. Speaking of $75 billion, yesterday it was announced that Chevron will spend $75 billion on buying back their own stock after reaping record quarterly profits in 2022, driving up their own stock prices and padding CEO compensation. This reckless Wall Street profiteering at the public's expense and the planet's expense should have consequences. In this bill, the Republican majority seeks to give away even more sensitive land for oil and gas development without even the pretense of a guarantee that it would even lower gas prices. This amendment is simple. Companies who engaged in stock buybacks in the last 10 years should be prohibited from leasing new land for oil and gas production. Mr. Chair, I urge adoption of the amendment, and I yield back the balance of my time.”