COMPREHENSIVE AMERICAN ENERGY SECURITY AND CONSUMER PROTECTION ACT -- (House of Representatives - September 16, 2008)
Mr. DeFAZIO. I thank the gentleman.
The oil and gas industry contributed $166 million to the Republicans since 1990, 75 percent of their political contributions. Fact: When President Bush took office, gas cost $1.47 a gallon. Today gas costs $3.79 a gallon in my district. Fact: In 2002, the oil companies made $30 billion in profits. In 2008, it's projected they will make an unbelievable record $160 billion in profits, every penny of that extracted from American consumers and American small businesses and borrowed from overseas, putting us in huge trouble.
The oil companies took care of their Republican cronies and the Republicans legislated on their behalf. When they controlled everything, the House, the White House and the Senate, they passed the so-called energy bill. It took them 5 years to write it. And they passed it. We're living with the consequences, which is the huge increase in profits and the huge increase in prices to consumers.
The choice is clear. Do we pass a bill written by Democrats who are not beholden to Big Oil, or do we pass another Republican bill, those who legislated this mess in the first place? Do we break our dependence on fossil fuels and mandate renewal energy, or do we ignore the ravages of global warming, drill, dig, burn and borrow our Nation to debt and dust?
Today I will vote for energy independence, sustainability and affordable energy prices. Many of my Republican colleagues will vote yet again for bigger oil company profits. Congratulations to the Grand Old Oil Party. They're very consistent.