Political Quotes

On the recordJune 14, 2000
With $60 oil, people are not going to be able to afford to go on vacation, people will not get out to have recreation, people will not be running motorboats, people will not be having vehicles out there driving. I want to tell my colleagues, if it does not scare them when oil can go from $10 a barrel to $32 a barrel in a few short months because foreign countries like Iran and Iraq can manipulate this country, if that does not scare my colleagues in the future, I do not know what does. We have the ability in this country in environmental and sound ways to produce a lot more of our oil. If we produce 60 percent of our oil instead of 48 percent of oil, we would be less dependent on these unstable parts of the world. I think that is a greater threat to our economic future and the defense of this country than any other foreign power. I think the energy crisis that is looming out there and our vulnerability to it, and there is no reason that we cannot have $40 oil in a month. We can have $50 oil in 2 months. All they have to do is slow down what they are going to sell us, and we are vulnerable; and there is nothing we can do about it. And until we become more self-sufficient and get people we can purchase oil from that are our friends that we can trust, we better be investing in our own security and our ability to produce energy.
Said by
John W. Peterson
Pennsylvania

Editor's note · Context

Discussing the economic impact of oil prices and the need for energy independence.

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