MAKING EMERGENCY SUPPLEMENTAL APPROPRIATIONS FOR ECONOMIC RECOVERY FOR THE FISCAL YEAR ENDING SEPTEMBER 30, 2008--MOTION TO PROCEED -- (Senate - September 26, 2008)
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Mr. ALLARD. Mr. President, I rise in opposition to the stimulus package. This stimulus package attempts to overturn an oil shale agreement that was reached in the continuing resolution.
This is more of the same shoddy process we have seen from the majority party throughout the entire Congress. If the purpose of this amendment is to stimulate the economy, why would we attempt to place one of the largest potential deposits of oil in the world out of reach?
This provision would maintain the status quo of sending $700 billion annually to the likes of Hugo Chavez, if we enacted this provision. Not only are we sending American dollars abroad, but we are sending American jobs after them. It is ironic that something that is supposed to stimulate our economy would, in fact, hurt us.
This Congress has already passed a stimulus proposal as well as a supplemental disaster appropriations bill, and we are going to vote on a $700 billion Wall Street bailout. We must realize that the United States does not have a blank check to spend unlimited amounts of taxpayer money.
It is premature to consider the stimulus package before we fully know what our other obligations are going to be. This do-nothing and drill-nothing Congress is out of touch with the people who put them in office.
Earlier this week we saw the largest single-day jump in oil prices in history. How did Democrats in Congress react? They attempted to extend the ill-conceived moratorium on oil shale regulations. This moratorium places over 800 billion barrels of potentially recoverable oil out of reach. That is an energy source larger than the proven reserves of Saudi Arabia. Let me repeat that again. We are talking about an energy source larger than the proven reserves of Saudi Arabia.
The Democratic-controlled Congress is completely ignoring the needs of our Nation. It is not only unfortunate but also insulting to the American people who are struggling to pay these high fuel prices at the gas pump.