Ted Poe: “Mr. Speaker, where I come from in southeast Texas, that area of the State is called the energy capital of the world. We…”

“Mr. Speaker, where I come from in southeast Texas, that area of the State is called the energy capital of the world. We have numerous refineries, petrochemical plants, and hundreds of offshore rigs. Energy byproducts from these areas are shipped all over the country, even to States that won't allow refineries and, heaven forbid, those offshore rigs near their shores. This is a tax bill, and Economics 101 says when you tax something, you get less of it. Now, we will get less energy because of this bill. This tax bill will discourage energy independence. It will increase gasoline prices; it will discourage American exploration; it will increase dependence on foreign countries and OPEC; it will cost Americans jobs, especially those in my district. It takes money and invests it in alternative energy. Investment is a politically correct word for Federal subsidies for special interest groups. Alternative energy is necessary, but this bill doesn't do that, and this bill breaks a contract this government signed. Now we want to legalize contract breaking with oil companies like they do in Bolivia and Venezuela. So if this bill passes, Americans need to get their checkbooks out because Americans are going to pay more at the pump. Americans always have to pay.”