Tim Ryan: “And one of the issues that was brought up today by the President that we want to discuss--and I very much appreciate you…”

“And one of the issues that was brought up today by the President that we want to discuss--and I very much appreciate you making the presentation as to the other side of the debate that our friends made over the last hour. But a couple of the points that were made on the other side is that, well, if we go offshore, you go into the Outer Continental Shelf region, it's deep water, it's going to cost $2 billion just to maybe get into the well. Well, when you look into the profits from 2007 for the oil companies, $123 billion in profits last year. So the reason they give that they have to increase the price is because it is expensive to get into some of this deep water; no one is disputing that fact.”