Adaptation to Changing Crude Oil Markets

Floor Speech

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Mr. FLORES. Mr. Chairman, I rise in strong support of H.R. 702.

H.R. 702 results in five key benefits:

Number one, it benefits the American consumer with resulting overall lower energy prices. This particularly benefits lower-income and lower-middle-income Americans, providing greater financial security for these hardworking families.

Number two, it benefits the American producer and allows them to further reinvest in our domestic energy infrastructure, furthering our energy security and American jobs.

Number three, it benefits our geopolitical standing and strengthens ties with our global friends and allies, and it hurts those countries like Russia, Iran, and Venezuela who are opposed to American interests around the world.

Number four, it benefits the downstream refining community, as lower prices will stimulate volume demand for refined products. This volume gives them more financial capital to hire skilled American workers and to reinvest in their operation.

Number five, it strengthens our national defense by enhancing the Maritime Security Program, which supports a robust Merchant Marine for use by our military during times of international crisis.

These are five critical reasons why everybody wins after we lift the ban.

The President has threatened to veto this commonsense bill, and hardworking American families all over this country should ask: Mr. President, why are you putting the interests of Iranian terrorists ahead of the interests of hardworking American families?

Mr. Chairman, I strongly urge my colleagues to reject the Amash amendment and to support H.R. 702.

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