Hon. Michael G. Oxley: “while I understand the sentiments and the security concerns of the Members here today on this ports issue, I feel…”

“while I understand the sentiments and the security concerns of the Members here today on this ports issue, I feel strongly that free trade is a core American value that is worth fighting for. I look forward to making the case for free trade and for economic engagement with our moderate Arab allies here today. But first, let's consider what we are and are not voting on today. The U.S. Congress cannot stop this sale, as this provision would seek to do. We simply do not have jurisdiction beyond our shores. In fact, the sale has already happened and the shareholders will be paid over the next couple of weeks. While I appreciate the desire of Members to stop the sale, the fact is that this language does nothing of the sort. I'm not sure what the goal is. The language certainly does not stop the purchase by Dubai Ports World, and--even more important--does nothing to improve the security of our ports. I would argue that this provision does not improve our security but will damage us economically, militarily, and diplomatically. It seems as if we are operating in a fact-free zone here. The facts are that companies based in many other countries are already managing most of the Nation's ports. Will we be seeking to overturn these contracts next? The fact is that no American company chose to bid on Peninsular and Oriental. There is only one American company large enough to take on this kind of contract, and my understanding is that firm is already at capacity.…”