On the recordFebruary 15, 2012
I thank my colleague. Mr. Chairman, oil companies are running a multi-million dollar lobbying campaign to approve the Keystone pipeline, a pipeline the owner itself says the price of oil in middle America to go up, not down. Here's what the oil company, TransCanada, said in its own application: Additional producer revenues are possible if the Keystone pipeline also relieves the oversupply situation in the Midwest. It goes on to say: The market prices of Canadian heavy crudes should rise in the Midwest. This gives new meaning to the phrase ``voodoo economics.'' Only in a party bought and paid for by the Koch Brothers would politicians have the audacity to claim that raising oil prices in America will lower gas prices help consumers or improve national security. Our amendment prevents oil companies from gouging American consumers by requiring that any oil pumped through the Keystone pipeline stay in America which is, ostensibly, the avowed purpose of the pipeline.
