Madam Chairman, I move to strike the last word. Madam Chairman, I come to the floor in appreciation of the underlying intent of both the amendment and the underlying bill as well. But I am mindful of…
Madam Chairman, I move to strike the last word.
Madam Chairman, I come to the floor in appreciation of the underlying intent of both the amendment and the underlying bill as well.
But I am mindful of the fact, as I come from the great State of New Jersey and as we think about the issue at hand, and that is our beaches and the shores generally, I was just talking with someone recently that due to the high cost of energy and the high cost of
gasoline, a lot of my constituents, quite honestly, won't be able to even enjoy the Jersey shore this summer, to ``go down below,'' as we call it, down to the Jersey shore to enjoy it and enjoy whatever improvements that this amendment, which I support, and the underlying bill, which I support, would bring to us.
So the point I just want to spend a moment on is the fact that while we debate these tertiary issues, the fundamental issue that folks back in my district are concerned about is how are we going to afford in the first place to get about our State of New Jersey, to get to the shore, to enjoy our vacation, to enjoy the beaches if Congress is not doing anything whatsoever to address the high cost of gasoline and to address the high cost of energy in the State of New Jersey and the rest of the country as well.
Here we are now in the ides of April, the middle of April. This is about, let's see, 12, 13, 14, 15, the 16th month now into this, the 110th Congress under the Democrat leadership. And we have to ask ourselves one seminal question, one basic question: What has the 16th month of Democrat leadership brought us in a whole host of areas? And I will get to the energy issue in a minute.
Well, we see in the area of food prices, my constituents also tell me that the price of food, when they go to the A&P or the grocery stores every day, whatever the store is, are going through the roof. The housing crisis. We will go to any committee here. I serve on the Financial Services Committee. We know we are in a terrible housing crisis right now, a subprime crisis affecting credit markets across the country. Fuel costs I have already mentioned. A recession. You know, for the first time in years, we're talking about an economic recession. For all the time that the Republicans were in control of this House and in control of this government, we saw that they were in booming economic times. Sixteen months now into the 110th Congress in a Democrat leadership, off the map on food costs, housing costs, into recession. If that has happened in 16 months, we wonder what will happen if they have another 16 months.
So I would ask whether this Congress could do what my constituents are asking us to do. Maybe address these issues such as beach issues and where we can go on vacation, but can we do those after we get to the more seminal issues, the more fundamental issues, issues that strike at the heart of where America is living right now, issues that strike at, well, their pocketbook and where their money is really going to right now, and that is energy costs.
The other day I just drove out in my driveway of my house. I went down to the main road. And there at the gas station, the price of a gallon of diesel fuel was $4 a gallon. Amazing. $4 a gallon. That means that truckers--those same truckers who have to get down to the Jersey Shore to bring supplies and what have you for vacationers who want to enjoy the beaches and what have you--truckers, I am told, have to spend upwards of $1,000 to fill up their diesel tanks in their trucks to get about our State.
New Jersey is a commuter State. New Jersey is a hub State, a transportation State. Unless Congress is ready to commit itself to really fundamentally look at the underlying causes of the high cost of energy, of the high cost of gasoline, of the high cost of diesel fuel, unless we are ready to work across both sides of the aisle on these issues, these other issues will come to naught, will be of little importance to my constituents if they are stranded at home, if their husbands or their wives don't have jobs because they can't afford to put gas into the car or diesel into the trucks.
So I just come to the floor to raise these issues now and ask that, as important as these beach issues are, can we not really begin to address what the constituents are addressing?
Later on in the evening, I would like to say that there are some solutions, there are some solutions that the American public would like us to begin to address. There are some answers to the fundamental reasons of why the price of gasoline and diesel fuel is going through the roof. There are some basic changes that Congress, this Congress, could be making right now to the energy supply in this country that would help to drive down the cost of energy in this country so that Americans, families in my district and in yours, will be able to address this problem and not have a problem of high energy cost anymore.
Madam Chairman, I appreciate the comments by the sponsor, and I support the commonsense approach to this amendment as well.
Coming from the great State of New Jersey, who has had when it comes to beach issues over the last 20-some odd years, during which time I had the privilege of serving in the State legislature and had to deal with some of the same issues that are being dealt with right here and now, I appreciate what is being done this evening with regard to realtime recovering and realtime information coming in. New Jersey, I think, is literally on the cutting edge of this information right now. New Jersey is on the cutting edge, having addressed these issues over the last decade, and I appreciate what is being attempted to be done for the rest of the country as well.
That being said, I just want to reiterate my point that I made earlier this evening that here we are back in Congress again this week, and a lot of people are asking me back in the district, what are some of the major issues that you will be working on when you return to Washington this week?
At a town hall meeting and discussions back over the weekend, I gave them a breakdown, this being one of them. And they asked me, wait, you are going to be talking about beach issues? You are going to be talking about some of these other suspension bills we had earlier in the week and I anticipate having later on in the week?
But each time, no matter where I was, my constituents asked me the same question: Well, when is Congress going to begin the debate, when is Congress going to begin the discussion, whether it is in committees or on the floor or elsewhere, to try to address the problem that is really hitting us the hardest here back at home in the Fifth Congressional District, that is the top of the State of New Jersey, the issue that is hitting us the most in the pocketbook here in the great State of New Jersey? And, of course, what they were referring to is the price of energy.
We have just gone through a little bit of a cold snap in the State of New Jersey, as other parts of the country have as well, so for that reason we have seen the use of home fuel oil go up, naturally. It is a scary thing now when you see the delivery truck come to your house to deliver oil to fill up your oil tank, because you know as soon as that man is done delivering that 100 gallons or 250 gallons to your tank in your basement or in the ground or what have you, he is going to hand you a bill at the end of that delivery, and that bill can wipe out your savings for the week, wipe out the dollars that you may have planned to set aside to buy food, to buy medicine, to pay other expenses you were looking forward to have to spend that week.
So the people are asking, when are we going to be doing something? Unfortunately, we are still not doing it right now. Here we are, 16 months into a Democrat-controlled Congress, and still nothing has been done about it.
I refer back, just to give a little element of time to all this, to the chart I have right up here in front of us, to the fact that we do not have a Democrat energy policy to try to address these seminal issues, major issues that are affecting us. Take a look at what the prices are and the result of not having an energy policy to address this.
As this chart shows, the price of a barrel of crude oil when the Democrats came to power just 16 months ago was $58.31 cents a barrel. Fifty-eight bucks a barrel. Here we are less than 2 years later, a year-and-a-half later, and the price of a barrel of crude oil today is $113 a barrel. It is because of that huge increase in the price of the barrel that you and I have to pay so much when that man comes to deliver the fuel oil for our house or when we go down to the gas station as well.
Fifty-three cents on the dollar when you buy gas at the gas station or are buying fuel oil for your house is the price of crude oil. So when you wonder why it is that you are paying so much at the pump or you are paying so much for delivery to your house, it is because it has gone from 58 bucks to 113 bucks. Not over the last 10 years. Not over the last 6 years, or something like that. Not over the period of time when the Republicans were in control. No, not over that entire span of time. But just in the last 16 months under Democrat control we have seen the price of fuel oil spike and go through the roof.
The result of that has been what? The result has been, besides the fact that you now have to spend most of your money going to your fuel costs, the price also has translated into a ripple effect on the price of food, so when you go to the food store, those are through the roof. It has a ripple effect with regard to the overall economy, and so that is why Alan Greenspan was on TV just about 2 weeks ago now saying that he too is agreeing with other economists in this country saying we have entered into a recession.
So if you remember back how strong the economy was, how strong Wall Street was just about 18 months ago, now we see under the Pelosi premium of no energy policy, the result is what you see today.
I move to strike the last word.
Madam Chairman, the previous gentleman was most accurate in his portrayal of what the problem is. Let me just dig into it a little bit more.
Again, as I said before, I support the ideas of the amendment that we are discussing right now in the underlying legislation. My heart just goes out for my constituents at home who may not be able to enjoy the benefits of such, the beaches of the great State of New Jersey and others along the eastern seaboard, simply because, a very practical matter with the high price of energy, the high price of gas, they simply may not be able to afford to get there.
I think I saw it in some news report the other day, how it was characterized, the point that I made earlier and the previous gentleman just made, as the chart just shows, the lack of a plan to deal with the energy problem in this country by the Democrat majority has brought us in this 110th Congress, this huge spike, this huge increase in the price of oil.
As the gentleman explained, it went from $58 per barrel of oil now up to $113, almost $114 per barrel of oil. The paper I think I was reading the other day, I heard it someplace, was this can most appropriately be called, not a Democrat problem, a premium that we are paying for the price of oil. Perhaps, appropriately, the paper called it the Pelosi premium because it comes during the time of this Congress headed by the Democrats.
The previous gentleman from Georgia was saying that, and he laid out very eloquently, that the other side of the aisle had campaigned on, and the Speaker said frequently they had a plan. Well, would that it be that they actually had a plan and began to implement that was beneficial, that would be beneficial, but they have had some sort of a plan.
I have to point this out to the gentleman from Georgia. They have had some suggestions as to what we can be doing with the price of gasoline. Let me just run through a couple of them. One of their suggestions to deal with the price of gasoline was a 50-cent increase per gallon Federal gas tax, which was proposed by the Energy and Commerce chairman.
So we are already paying $3.50 or so for a gallon of gasoline at the pump. The Energy and Commerce chairman said how do we deal with that issue? Let's add a 50-cent increase per gallon Federal gas tax on top of that. That's one part of their plan.
The second plan the other side of the aisle, the Democrat majority proposed to deal with the high price of energy, was a $150 million war surtax. That was under a plan proposed by the Appropriations chairman, David Obey. We are already paying a high price for gasoline, we are already paying a high price for diesel, home heating fuel. Let's add insult to injury and add a $150 billion war surtax on top of that that you and I would have to pay.
Was that the end of their plan? No, they had a couple of other ideas. Defense Appropriations Chairman John Murtha and Representative Jim McGovern said low- and middle-income taxpayers should have to pay 2 percent added to their tax bill while higher income taxpayers would take an additional 12 to 15 percent added tax as well. There again, how do you deal with this problem, higher taxes.
Finally, a final proposal to deal with this situation from the Democrat majority, a 5-cent increase per gallon gasoline gas tax was proposed by Representative James Oberstar to pay for infrastructure. This proposal, as you may recall, would raise the Federal gas tax to 23.4 cents a gallon from the current 18.4 cents. This was made last summer.
So every proposal that they have had suggested, every proposal that we have heard from the Democrat side of the aisle to deal with the energy crisis in this country, to deal with the fact that energy costs for a barrel of oil going $58 up to $114, their solution to the fact that we are paying $3.25, $3.50, $4 for diesel, their solution so far has done nothing to lower the price. It has done everything to raise the price.
To add insult to injury, their proposal is to add even more by adding additional taxes and surtaxes on top of that.
Madam Chairman, I yield back the balance of my time.
I thank the Chair. And I appreciate the gentleman from Tennessee having come to the floor a moment ago to address this energy and the like. To be honest, that's the only way that we are going to be able to find solutions to these major issues that we need to address, whether it is the Iraq war situation, or this major issue of energy costs in this country.
Obviously, we have been able to find common ground when it comes to, I would catch it, slightly less significant issues dealing with beach quality and what have you. Now if we can find that same comity when it comes to the Iraq war and energy, then we'll be moving in the right direction.
That being said, the gentleman can't disagree with some of the facts that have been set out here for the last evening, and this will probably be my last comment for the night; and that is that the Democrat majority, prior to becoming the majority, did point out some problems with regard to energy prices prior to coming into the majority.
And the gentleman from Georgia went through a litany of quotes from Democrat leadership citing the problem, and making a promise that the Democrat majority had a solution to those problems. I'm eager to see what those solutions are. I would like to extend a hand across the other side of the aisle to work with them, if those solutions were ever forthcoming.
As I indicated in my last comments, the only proposals that I've seen so far from the other side of the aisle have been restrictive or increasing to the cost of energy. They were the two or three tax increases that I ran through before, the 50 cent increase per gallon gasoline Federal gas hike proposed, the $150 billion war surtax or the 5 cent increase per gallon tax hike, all proposals from the other side of the aisle. None of those things will lower the cost of energy. All of those things will raise the price that you and I and everyone else have to pay at the pump.
What we may want to do is look to see what other countries are doing with regard to energy costs in general. Let me just run down real quickly some of these.
Over in China, three or four things. One, China has expanded its natural gas infrastructure by constructing pipe lines. Unfortunately, the Democrats have opposed natural gas production in this country and natural gas infrastructure improvements in the country in general. And the chart that we had up previously showed that as far as offshore.
Secondly, China is rapidly expanding its refining capacity. Unfortunately, Democrats have repeatedly voted against expanding America's refinery capacity. I don't think we've had any new refineries built in some several decades.
Thirdly, China is ambitiously developing its nuclear power energy which plans to spend $50 billion on 30 additional nuclear reactors within the next 15 years. Again, unfortunately, Democrats consider the notion of increasing nuclear power generation in the U.S. basically as off the table.
And finally, China's planning on constructing many new large scale hydro electric projects over the forecasted period, including an 18.2 gigawatt Three Gorges dam project which is expected to come in in 2009. Again, unfortunately, Democrats have actively opposed new hydro electric power plants here in the United States.
So I will end where I began. The gentleman said that we should be concerned about how much money is going to Saudi Arabia and Dubai and all of the things that they're able to build with that oil. I agree.
I wish all of our American tax dollars and American gasoline dollars that we pay at the pump weren't going overseas. But right now, 63 percent of our energy sources are dependent on foreign sources of energy and growing more every year.
What we need to do is make America more self-reliant when it comes to energy. You do that by what we've talked about all evening. Don't tax it, don't raise the cost of production, don't restrict the production here in the United States, don't restrict the ideas of new efficient energy alternatives and the like, but allow it to grow using ingenuity of Americans insight and entrepreneurs, so that we do not have to be more dependent every day on foreign, unreliable sources that are a threat to this country, are a threat to our national security, and put our young men and women in harm's way on the points with regard to war, as the gentleman from Tennessee was pointing out.
Mr. Chairman, I yield back the balance of my time.