On the recordJanuary 27, 2015
I thank the Chairman for yielding. Mr. Speaker, right now, today, about 50 percent of Russia's revenue comes from taxes on oil and gas. About 80 percent of that resource goes through the Ukraine. The Ukrainian people are under tremendous pressure, as are other European allies, by the Russians. Regardless of where U.S. natural gas is shipped, increasing supply and competition in the global marketplace will help provide international consumers with greater choice. In fact, a representative of the U.S. State Department made a similar statement on the benefits of U.S. natural gas exports at a January 8, 2015, Atlantic Council forum. This is from the State Department: Now, where the gas will go doesn't matter. The fact that we have approved exports of natural gas has already had an impact on Europe. Just the fact that America is getting into the game has put the Russians on notice that our friends and allies and people that they are currently putting under pressure--the Ukrainians and others--are going to have a choice, and it is going to make a different conversation happen at the table. Mr. Chairman, I hope that helped clarify it.
