let me start by discussing briefly what happened in 2005. Then-President George W. Bush spoke to the American Society of Newspaper Editors. It was at their convention in 2005. Then, as now, energy was a very important issue--obviously, central to our economy. President George W. Bush made some very important remarks, in my view, at that convention. I would like to read briefly what President Bush said to the convention. On energy, he said: One of the initiatives I will push, again, is to get an energy bill out. I will tell you with $55 oil we don't need incentives to oil and gas companies to explore. There are plenty of incentives. What we need is to put a strategy in place that will help this country over time become less dependent. It's really important. It's an important part of our economic security, and it's an important part of our national security. George W. Bush was right then, and he is just as accurate today. His comments with respect to the importance of an energy bill to our economic security and national security, in my view, is indisputably accurate. Because the President, who of course comes from oil country and has been an oil man himself, took this position, I thought it important to look at that in the context of where we were headed in terms of our country's energy policy. We had a hearing back then, in 2005. We had all the major oil companies with us that day, their executives.…
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