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Mr. SCALISE. I thank my colleague from Utah for yielding.
Mr. Speaker, I couldn't disagree more with the comments that were made by the minority leader from California. What we are talking about here are high gas prices that people are paying at the pump today and why we are in this situation. We are in this situation because of this administration's policies that have shut off the American energy supply.
This is supply and demand. Why do prices go up? Well, gee-whiz, if the President of the United States says by policy we are going to close off billions of barrels of known reserves in America, what do you think that does to prices? Do you think that actually lowers prices? Of course, as you are seeing prices skyrocket at the pump, it is because of these policies. That is why we have seen the price of gasoline more than double since Barack Obama has been in office.
So, Mr. Speaker, what we are bringing today and what this rule addresses is the ability to start opening up some of those known areas here in America, because, again, our demand continues to increase for oil here in this country, and while the President is out tilting at windmills, the prices at the pump continue to skyrocket because the President is saying run those jobs off to foreign countries, like Brazil.
He is bragging that he wants to create more energy jobs in Brazil. We are saying, Mr. President, we have thousands of jobs here in America that we can create today. We have got billions of dollars that are being sent to foreign countries, many of whom don't like us, by the way. We can bring those dollars back. And, by the way, that can also help us pay down the national debt that is out of control right now. And that is what this bill addresses.
And what's their answer on the other side? The President is talking about raising taxes on American energy, and the minority leader from California just emphasized it. She talked about a $30 billion tax increase on American energy production. You want to talk about a warped policy? Look at what their plan is.
We're saying let's open up supply. Let's create jobs in America. I have seen it in south Louisiana. We have lost over 13,000 jobs in the energy industry just because of the President's policies in the last year, where he shut down production and said you can't go back to work drilling safely for known oil in America. But he wants to run those jobs off to foreign countries. So that is what is happening.
We saw one of the deepwater rigs go to Egypt just in the last few months. So an employer is saying, I want to take a thousand jobs and it's better to do business in Egypt because of these radical American policies on energy right now. So we are trying to turn that around and say let's actually explore for energy here in America, creating thousands more jobs in America and bringing in billions more dollars that pay down our deficit.
Their answer is raise $30 billion in taxes and, you know, go talk about Big Oil. Big Oil is not going to pay that. Big Oil is leaving. They are going to foreign countries. It is our local energy producers here in America who will pay that tax. And you know what that ends up equating to? That means higher prices at the pump, $30 billion in higher prices at the pump, because of their policy.
And they're bragging about it. They're saying, let's raise taxes on American energy. By the way, their bill doesn't apply to energy that is produced in Saudi Arabia. So what do you think is going to happen?
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Mr. SCALISE. Now more oil is going to be coming in from Saudi Arabia because of their policies.
We have got to reverse this radical approach and actually create jobs in America, create energy in America and bring down the skyrocketing price of gasoline at the pump, and it can all be accomplished with this legislation here today that I strongly support.
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