Oil Prices are a National Security Issue

OIL PRICES ARE A NATIONAL SECURITY ISSUE -- (House of Representatives - July 26, 2006)

(Mr. DAVIS of Tennessee asked and was given permission to address the House for 1 minute.)

Mr. DAVIS of Tennessee. Mr. Speaker, Congress cannot afford to wait another day to address our Nation's energy crisis. Record gas prices are not only causing pain for American consumers every time they pull up at the pump, but high prices are also seriously threatening our national security.

Consider $5 a barrel increase for a barrel of oil. That translates into $85 million that goes directly to Iran every week, which can then be sent to Hezbollah or to support the escalating sectarian violence in Iraq.

Neither the Bush administration nor congressional Republicans have done enough to wean us off foreign oil. For 5 years now, we have refused to come up with bold new ideas. Instead, their answer last year was to give oil and gas companies $20 billion in tax breaks and subsidies.

The former top aide to Secretary of State Rice told The New York Times yesterday, I do not think any of us have done a terribly good job of thinking through, and how far behind the eight ball we are on these issues.

For 5 years now, Washington Republicans have been unwilling to think outside of the box for fear that they will irritate their special interest friends in Big Oil. I think it is time that we lead America in a new direction.

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