Political Quotes

“I yield myself the balance of my time. The assertion is made that this violates contracts. I want to be very specific: current law says that when the debt is paid back, the contracts that are entered into expire. Therefore, we are not violating any contracts because on October 1 that will happen. Secondly, the pricing mechanism. I pointed out in opening remarks that the three refiners are the ones that are benefiting, and this chart shows how. This is what they are paying, the blue line. That's the bottom line. The red line is the market price. The yellow in between is what the refiners are accruing as far as profits are concerned. We're simply saying the market ought to dictate who gets that benefit, and that's precisely what H.R. 527 does. So this amendment simply prolongs the yellow, if you will, on this chart longer, and only three companies benefit by that. I don't think that's good for the taxpayers because the taxpayers are the ones that are failing or getting the low end of the deal with that yellow line. So while I understand where the gentleman is coming from, and I respect him for bringing this issue to the floor--it is good to have a debate on it--no contracts are violated under current law. I urge my colleagues to reject this amendment. I yield back the balance of my time. The Acting CHAIR. The question is on the amendment offered by the gentleman from Pennsylvania (Mr. Dent).…”