Pete Sessions: “first I would like to share in the gist of the remarks of Senator Wyden, that OPEC is a cartel. They meet to decide how…”

“first I would like to share in the gist of the remarks of Senator Wyden, that OPEC is a cartel. They meet to decide how much production they will allow. The reason they do that is to control the price of oil in the world marketplace. By controlling the amount they produce, they control the price. It is a cartel price, it is not a free market price. They call themselves a cartel. In effect, they meet to decide how much they are going to tax the American consumer. That is because the value of the oil on the global marketplace is disconnected to the cost of its production throughout the world. I think we should do what we can with ethanol and other alternative fuels to reduce our dependence on foreign oil, both for our economy, as well as for our national security. My amendment has to do with crop insurance. I truly believe it is an amendment that will be a good-government amendment that will allow us to test an idea that came from farmers themselves and could, indeed, create a situation in which crop insurance works better in America than it currently does.”