On the recordMarch 8, 2012
I urge opposition to this amendment. I wish to outline just very briefly why. First, under this amendment the oil is not going to be going to the United States. This oil is going to be going to the export market, and the TransCanada application to the Canadian Government showed this beyond any question. The Canadian oil companies expect to reap as much as $3.9 billion more in annual revenue from the higher prices they can tap once their oil reaches the gulf coast. It competes at the same price as other oil supplies on the global market--no protection for workers, no protection on the environment, and, I believe, higher prices for American businesses and American consumers. I urge my colleagues to vote no on the amendment. The PRESIDING OFFICER. The question is on agreeing to amendment No. 1537.
