Keystone Xl Pipeline Act
May I ask a parliamentary inquiry. It would be this. Is it possible for me to speak for 5 minutes, then reserve the remainder of my time and have the Senator from North Dakota speak, and then I can reclaim the remainder of my time? Mr.…
May I ask a parliamentary inquiry. It would be this. Is it possible for me to speak for 5 minutes, then reserve the remainder of my time and have the Senator from North Dakota speak, and then I can reclaim the remainder of my time?
Mr. President, we are about to engage in a historic debate; that is, over whether the Canadians--a Canadian oil company-- should be allowed to take the dirtiest oil in the world, the Canadian tar sands oil, to have the United States accede to the construction of a pipeline, like a straw through our country, which would then go down to the Gulf of Mexico, with no promise from the Canadians that they will not export the oil from the United States.
So the issue which is raised, of course, is what is in it for the United States, since there is a very small number of jobs for our country once the pipeline is completed? We understand why the Canadian company wants to do this. If they can get that oil out onto the global marketplace, using the United States as the conduit, they can get a dramatically higher price for that oil. We understand their motivation. But what is in it for the United States of America?
Ultimately, we have to decide what is in our best interests. My amendment says that if this pipeline is constructed, the oil stays here, our country gets the benefit, and our consumers get the benefit. Otherwise, it is not about energy independence; it is not about North American energy independence. It is about a Canadian company exporting the oil, using the United States as a conduit, as a straw, as a pipeline. That is it. What is in it for us?
The American people right now are enjoying historically low oil prices. They love it. It is like a tax cut to every American. If this Canadian oil gets exported, you better believe it is going to act as a spur to raise the price of oil. The more oil that is here, the better for us. The more oil that leaves our country, the worse for us.
I will give you another number, if you want to know, because this is a Canadian export pipeline. The United States of America right now is the leading importing country for oil in the world. We are No. 1. We import net about 5 million barrels of oil a day. We are No. 1. We are the No. 1 importing country. Then comes China, then comes India, then Japan. Five million barrels a day--how can we be exporting oil when we are the leading importer of oil?
What countries do we import the oil from today, 2015? We import the oil from Saudi Arabia, from Venezuela, from Iraq, from Russia, from Nigeria. How can we be exporting our young men and women in uniform over to the Middle East in order to protect these ships coming in with oil in them and simultaneously be exporting oil out of the United States, while we are still importing 5 million barrels of oil a day?
That is what this debate is all about. It does not make any sense. This is the dirtiest oil in the world. This oil is going to dangerously add to the warming of the planet. The Canadian--the American Petroleum Institute will not promise the oil stays here, even though their ads on TV say that it is all about North American energy independence.
So we have a huge choice we have to make here. Do we want to help our economy? Do we want to help our national security, help our consumers, help our manufacturers by giving them this lower price of energy--which except for labor is the No. 1 component in industry in the United States--and keep that price low? The Markey amendment says: Yes, that oil stays here in the United States of America for our own strength, our own economy, our own consumers, our own job creation, and will not be sent off onto the world so the Canadian oil company can get a much higher price for that oil while we take all of the risk. We would not be Uncle Sam, we would be Uncle Sucker if we did not keep that oil here.
I reserve the remainder of my time.
I thank the Senator very much. Year 2014 has just been reported by NASA as the single warmest year ever recorded in the history of the planet, going back to the earliest records. You do not have to be a detective to figure out what is going on. The world is dangerously warming. The United States can no longer preach temperance from a bar stool and tell the rest of the world they should be better while we continue to burn these fuels.
But if they are going to build this pipeline, at least the American people should be the beneficiaries of the Canadian activity to sell all of this oil out onto the global market. What we are being told is: No, we do not want any restrictions. We do not want there to be any way in which we can keep that oil here, to keep prices at least low for the American consumer and for American job creation, to keep oil here so we can maybe back out the Saudi Arabian oil, maybe back out the Kuwaiti oil, maybe back out the Russian oil that we are importing right now as we sit here. But we are being told we cannot do that. We are being told the Republican leadership thinks that is a bad idea.
When I asked the head of the TransCanada pipeline in the hearing if he agree to keep the oil in the United States, he just looked at me and said no. So this is what is going on.
What happens for the American consumer? Well, I will tell you what happens. It is a very simple formula. Every time there is a $10 increase in the price of a barrel of oil, it knocks two-tenths of a point to three-tenths of a percentage point off of the growth rate of the American economy.
When Americans pay less for American oil and we import less foreign oil, consumers have more money in their pockets from that discounted American oil. That is like a direct economic stimulus for middle-class families and small businesses across the country. Analysts say the drop in oil prices will give hundreds of billions back to consumers and other parts of our economy. Every penny reduction in gas prices translates into $1 billion in consumer savings.
So when the polling is done on this issue and the American people are asked if they would support the exportation of American oil, by a 3-to- 1 margin people say, all across the country, regardless of party: No, do not export it. Keep that oil here to make America stronger here at home.
That is not Democrat. That is not Republican. That is not Independent. That is all people being polled across the board.
That is just common sense because they know the more oil we export, the higher the prices are going to be for consumers here because we have less oil. This is a simple debate.
The planet is running a fever. There are no emergency rooms for planets. We have to engage in preventive care. The Republican leadership thinks they have the votes in order to pass this bill which will dangerously warm the planet. My amendment says if that is going to be the case--and I am not voting for that bill--at least let's keep the oil here, at least let's get the benefit for consumers so we keep prices low for gasoline, prices low for home heating oil, prices low for jet fuel, prices low for diesel. Let's keep the oil here, let's get the benefit in our economy, and let's not allow oil companies to set the agenda.
The Republican leadership keeps saying it is all of the above. Ladies and gentlemen, this bill basically says: No. No, it is oil above all. That is what it is all about. It is not even oil that is necessarily going to stay in the United States, so it is a very simple argument I am making.
We import 5 million barrels of oil a day. They come from the worst places in the world that we should be dependent upon--5 million barrels a day. We export young men and women over to the Middle East to protect that oil coming in. The least we owe to those young men and women is when we get a chance to reduce our dependence upon imported oil, we take that chance, that we send that message to the rest of the world that we understand our Achille's heel. We understand what makes us weak.
I thank the Presiding Officer, and I urge an ``aye'' vote on the Markey amendment.