Energy Markets Emergency Act of 2008

ENERGY MARKETS EMERGENCY ACT OF 2008 -- (House of Representatives - June 26, 2008)

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Mrs. MYRICK. I thank the gentleman for yielding.

I support this bill, and if there is a problem with speculators, yes, we need to get to the bottom of it, but we also need to look at our supply and start using our own resources. Yes, it may be a stopgap to take us on to alternatives, which I totally support because there are a lot of things out there that will work and will stop our dependence on foreign oil. This is a national security issue, and that's what bothers me so much because right now, we are totally dependent on people who don't like us for our oil. And what that does is put money in their pocket that they are using against us to finance terrorism. It makes no sense. We have to look at supply, and we have to look at our own supply.

I have a bill that is the Deep Ocean Energy Resources Act, and very simply, it allows us to drill off the Outer Continental Shelf because it's estimated there is a lot of supply out there. And it lets the States decide if they want to do it, and they share in the revenue.

We have got to get serious about this, and we need to get moving now, not wait. There are a lot of bills out there that could be on the floor, but we need to ensure our energy and national security with serious bills. Supply, we need to look at nuclear, and expand that.

We need all the alternatives on the table because that's the only thing that's going to solve the problem. We can't just put band-aids on it. We have to address it in a serious manner.

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