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The Hill's Congress Blog: If Progress is Made on Energy Issue, Markets Will Respond Quickly

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Date:
Location: Washington, DC


Right now the Republicans are taking the only action available to them in light of the fact that Speaker Pelosi closed down the floor. The normal procedure would have been to allow us to have our 5 minutes to discuss the issue, but that was blocked. Likewise, the normal course of events we would have liked to have had would be a real debate on this in committee, but each and every time there was even a shot of discussing this [the Democrats] blocked it. We're taking the only other alternative that we can think of to make sure the people's voices can be heard.

Regarding the November election, I have always been optimistic about the Republican party's chances. Normally when i say it to people they would laugh, but I think this has been a real turning point. I think this gives you a great issue to work for the American public on. Right now, I think the American public is clearly seeing democrats are anti energy, anti production, in favor of higher costs of living all across the board.

As they said at the press conference today, for the rich and elite, this is merely an inconvenience. For the middle class its a great hardship, and for the poor it is outright devastating. For the poor, for union workers, those who are in automobile manufacturing - right now they have to be scratching their head wondering where is that Democratic party that said they were looking out for the little guy - they're nowhere to be found today, certainly nowhere to be found on floor with us.

I think the market would respond fairly quickly if we were to make progress here. I would anticipate that if we passed a bill that would actually accomplish something, we'd see a fairly immediate reaction because that's how the markets respond. People who invest in futures markets are looking to see what the price is today. If they anticipate in 2, 3, 5, 10 years from now there will be more oil,the futures market would be immediately impacted.


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