Kevin Brady: “Well, if the gentleman would yield, can we talk a little more about how the loss of energy in America from this…”

“Well, if the gentleman would yield, can we talk a little more about how the loss of energy in America from this moratorium drives up fuel prices, makes us more dependent? Because I don't think most people realize, as you said, the Gulf of Mexico is a key generator of oil and natural gas for America. But it actually is very key to keeping OPEC from controlling energy prices throughout the world. OPEC controls about 40 percent of the world's oil supply. And what happens is, when what we need as the world gets to about within 2 to 3 percent of everything that's produced, OPEC then has amazing leverage to drive those prices up for American families and workers. The Gulf of Mexico is our relief valve. That's where we produce energy and gas here in America. But because we have that producing, OPEC doesn't have the leverage that it historically has. But with this moratorium, as you said, the energy supply isn't today. The shortage is in 2011 and 2012, which we know from the last time. When energy went to $4 a gallon, we saw the devastating impact on American energy, American prosperity, our economy and jobs. Man, the average families and small businesses just suffered. We're going to see more of that in the future.”