Floor Statements

Mr. President, I rise to speak on the floor of this Chamber for the final time in my service as a Senator from the State of North Carolina. As I do, I cannot help but think back some 12 and a half years ago, when I sat up in the Senate Gallery to watch another Senator Dole, my husband Bob, deliver his farewell speech in this Chamber after nearly three decades of service.

Bob began his remarks by reflecting on words spoken by Abraham Lincoln in 1860, when a delegation arrived in Springfield, IL, to officially inform him he had been nominated by his party for the Presidency. Lincoln spoke just two sentences, and then he said to the large crowd of friends and neighbors gathered on his lawn:

Now I will no longer defer the pleasure of taking each of

you by the hand.

I rise with a heart full of gratitude, and, like President Lincoln and like Bob Dole, what I wish I could do is to take the hand of all those who have helped me on my life's journey and to express my heartfelt thanks. I would begin with friends from my home State. I have been blessed to serve the public in numerous capacities during my career. Without question, the highest honor has been representing North Carolina in the Senate. I thank my fellow Tar Heels for granting me the privilege of serving them.

Then there are a number of North Carolinians now gone whom I wish I could take by the hand again to thank them for the examples they set, the values they instilled in me and the love, guidance, and support they provided.

There is my grandmother, Mom Cathey. I can still vividly recall the Sunday afternoons spent with other neighborhood children at her home. We would enjoy lemonade and homemade cookies while Mom Cathey read from her Bible, which is now one of my most cherished possessions. My grandmother practiced what she preached, and she truly lived her life for others.

My beloved father John Hanford always supported my interests and taught me that anything worth doing deserved my best effort. When I wanted to run for president of my high school, which was not something girls did in those days, he stood right behind me cheering me on. He was protective but not overbearing.

My precious mother Mary, who passed away just shy of 103 years old, was also front and center in my life. She taught me at a very young age that the real joy in life is giving back to your community and helping those around you, and she was always there to urge me to go the extra mile: You finished your homework early. Have you thought about entering that essay contest? Unbeknownst to her, mother's example of hard work and dedication drew me toward public service as my mission field, my passion. She was a constant source of inspiration.

My dear brother John, 13 years my senior, who passed away earlier this year, was a role model I put on a pedestal. He encouraged me at every turn, providing me with invaluable counsel and infinite support. And there is no finer example of a beautiful, caring heart, a person who lives her faith, than John's wife Bunny.

Speaking of faith, I am so proud of my two nephews, John Hanford III, currently traveling the world as our U.S. Ambassador at Large for religious freedom, and Jody Hanford, his brother, 17 years with Campus Crusade for Christ and 15 visits to work in Russia and Ukraine.

I also wish I could thank teachers such as Agnes Weant, whose dedication to young people led her outside the classroom on more than one evening to discuss colleges and future opportunities with my parents, and Duke University's dean, Florence Brinkley, who encouraged me to spend a summer in England studying at Oxford.

Because of the support and encouragement I received from family, friends, and teachers, I ventured to Washington, seeking to be part of something greater than myself. As a young adult, I was incredibly fortunate to encounter several great mentors who offered me direction, opportunity, and encouragement, mentors such as Bill Cochrane, who was thought of by many as North Carolina's third Senator. Bill served in the office of North Carolina Democratic Senator B. Everett Jordan, and he was like a one-man personnel office, assisting eager young people in finding jobs in Washington. During the summer of 1960, I worked in Senator Jordan's office. Knowing that firsthand historical experiences are much treasured by young people, Bill helped me get a front-row ticket to my first national campaign on board Vice Presidential nominee Lyndon B. Johnson's whistle stop tour of the South. Although my staunchly Republican father was concerned about my riding through the South, especially through Salisbury, my hometown, on LBJ's train, I knew Bill Cochrane was giving me an unmatchable learning experience, and I was right.

And how I wish I could hold out a hand of thanks to a remarkable woman who served in this Chamber for many years, Margaret Chase Smith of Maine. While working for Senator Jordan, I had the gall to request a meeting with Senator Smith. She didn't know me from Adam, but not only did she agree to see me, she devoted an entire hour to sharing her thoughts and encouraging me to get a law degree so I could bring some additional skills to a public policy job. I took her advice and entered Harvard Law School 2 years later. Senator Smith's example taught me the importance of having an open door for younger people who also seek public service as a noble endeavor and might need a little advice and mentoring along the way.

I was privileged to have the best mentor imaginable in Virginia Knauer, special assistant to President Nixon for consumer affairs. Virginia, a truly unselfish boss, wanted me as her deputy to have every experience that she had--my first testimony before Congress, my first press conference, speeches across America. After working with her for 5 years, Virginia wanted to support my nomination to the Federal Trade Commission. ``Oh, no, Virginia,'' I remember telling her. I said, ``I love being your deputy'' when she broached the subject. Virginia replied:

Elizabeth, you have grown and learned as much as you can in

this job. It is time for you to spread your wings.

In other words, she nudged me out of the nest. To this day, Virginia, at age 93, remains one of my most cherished friends, and I am grateful to President Nixon for my many years on the Federal Trade Commission.

I am indebted to former President Ronald Reagan for asking me to serve as his Secretary of Transportation and to President George Herbert Walker Bush for the privilege of serving as Secretary of Labor. And I thank the Board of Governors of the American Red Cross and their army of millions of volunteers for allowing me to serve 8 years as their president. At each of these positions, I have been fortunate, indeed, to be part of a team of extraordinary, hard-working men and women. I thank all those who have shared the mission fields with me over the years.

My special thanks to my very talented and capable Senate staff. These incredible men and women understand what it means to be true servants of the public, to have a passion for what they do. Yes, we have shared a mission field. We have worked hard. We have had some fun along the way, too, and we made a positive difference for North Carolina and America.

I thank all Members of the U.S. Senate. I knew many of you as friends long before becoming your colleague, and you will remain my friends after I depart the Senate. You will surely be in my thoughts and prayers as you steer our country through the challenging times ahead.

Most especially, I thank my incredibly supportive husband Bob, who is a constant example--and probably for some of you as well--that a leader should have not only a strong backbone but also a funny bone. From armed service to public service, elected six times by his Republican colleagues to be their leader, Bob's more than half a century of service to our country is a constant inspiration. Because of his leadership, we now have the beautiful memorial to the men and women of World War II. Bob's compassion and caring for his fellow man, exhibited through his actions in both public and private life, are to me unparalleled. He remains the light of my life. For all that you have done for me and for countless others and for our country, I thank you, Bob, from the bottom of my heart.

I could never have dreamed of the people I have been privileged to meet, the jobs I have been privileged to hold, or the issues I have been privileged to influence. Perhaps Theodore Roosevelt said it best with these words:

Far and away, the best prize life has to offer is the

chance to work hard at work worth doing.

I am so very fortunate to have found that best prize as a servant of the public. While I don't know what awaits me in life's journey, what will come next, I pray that I will find a way to continue to work hard at work worth doing.

May God bless America, and may God bless the United States Senate.

I yield the floor.

Madam President, I wish to express my deepest thanks for the very kind words of the distinguished ``gentleman'' from Kentucky. I feel very close to this gentleman because we have been very good friends for so many years. Certainly your wife, Elaine Chao, who is doing a tremendous job as Secretary of Labor, has been a friend for many years. In fact, we worked together at the Department of Transportation as colleagues and then also when she was president of United Way and I was president of the American Red Cross. So our paths have continued to cross in terms of our professions but also in terms of personal relationships and the warmth and friendship.

Mitch, I can't tell you how proud I am of your leadership as the Republican leader, and I am so proud you have been reelected by your colleagues. You do a tremendous job. You are a master of the Senate. Through the years, you and I have had a chance to work together on many issues. Of course, it was my privilege early on--I believe in my first year in the Senate--to visit the University of Louisville and the McConnell Center for Political Leadership and to speak to the McConnell Scholars. That is just one of many things you are doing to help others outside the Senate as well as the tremendous work within the Senate.

Just know I treasure your friendship. I look forward to being in close touch

and hope there will be many other initiatives on which we can work together, Elaine and Bob and I, in the years to come. Thank you so much for those most kind words wishing me well. I wish you all the very best.

Thank you so much.

gordon smith

Madam President, let me say, first, following one of my dearest friends in the Senate, I cannot tell you how much I admire and respect this great man and how much he will be missed in the Senate.

Madam President, we all know high gas prices are the source of tremendous frustration to individuals, families, and businesses alike. I am greatly discouraged that yet another week has gone by and no action on a comprehensive energy policy has taken root in the Senate. Our country deserves better than the lack of leadership in Washington that has been shown on this issue the past 2 years.

We need a comprehensive energy policy, but right now in North Carolina we just need more gasoline. My State faces a gas shortage of crisis proportions. In western North Carolina, Asheville-Buncombe Technical Community College and Southwestern Community College have both canceled classes for the rest of this week because students and professors cannot get to class. My office has been assisting senior citizens who need help getting to doctor appointments because public transportation systems are struggling to meet increased demand. Businesses are closing early, cars are being left on the side of the road, and families are staying home just to conserve gasoline. The ripple effects of this gas shortage are resonating throughout North Carolina and the Southeast.

I know folks in western North Carolina are being particularly hard hit, and I want them to know I have heard them and we are acting to bring relief. My office has been in daily contact with constituents, State and local officials, gasoline refiners and distributors, and our Federal agencies. In response to the shortage, today my colleague, Senator Richard Burr, and I have written to the Secretary of Energy requesting him to tap the International Energy Agency's emergency gasoline and diesel fuel supply. An IEA release can help alleviate some of the supply constraints we are feeling in the United States. This is a prudent and responsible step which is on the scale of our efforts post-Katrina and Rita, and there is no reason the Secretary of Energy should not take this action.

Additionally, Senator Burr and I have introduced legislation today that will help prevent in the future a situation such as the one we find ourselves in today. The Motor Fuel Supply and Distribution Improvement Act of 2008 will reduce the proliferation of boutique fuels and streamline the process of getting more affordable and reliable product to western North Carolina, Charlotte, the Southeast, and across the country. With this legislation, we will no longer have to rely on an EPA Administrator to issue a waiver in times of crisis or be held victim to a policy that creates hurdles to getting gasoline to consumers when they need it most.

We also know this particular shortage is a result of Hurricanes Gustav and Ike, which devastated the gulf coast and its infrastructure. Being from a State that has been hit by its fair share of hurricanes, my heart goes out to the people of the gulf who have endured far too much disaster for one lifetime, and we will do everything possible to support them and help them rebuild.

Of strategic consequence, however, the refinery and pipeline closures in the gulf as a result of the storms highlight a glaring energy security issue for our country. It makes little sense to have a quarter of our country's refining capacity located so densely in one area. We have far too few oil refineries in America, and right now in North Carolina we are experiencing the harmful consequences of a policy that has greatly inhibited the building of new refineries in America.

We need to get to work building new refineries right here at home. In fact, for years I have been calling for streamlining regulations so more refineries can get built, only to have special interests stand in the way. The Gas Petroleum Rifiner Improvement and Community Empowerment Act, or Gas PRICE Act, which I have supported since 2005, would streamline the process for the construction and operation of a refinery so we can build additional refineries and create new jobs in North Carolina and throughout the Southeast. This is a sensible approach that would expand refinery capacity and lower gas prices.

Significantly, with this plan, our country would no longer be so dependent on one area to provide us with so much of our gasoline. As we saw in the wake of Hurricanes Katrina and Rita, we need to expand refining capacity and production so that even in the face of crisis situations our fuel supply system continues to function and support American businesses and consumers.

Now Hurricanes Gustav and Ike have reinforced that same message. North Carolinians can no longer afford Congress's inaction on our energy future. It is time to put the special interests aside and do what is right for our country.

Madam President, I yield the floor.

Mr. President, it is with a heavy heart that I rise today, on this solemn anniversary, to pay my respects to all of the dedicated emergency responders who have made the ultimate sacrifice to protect our citizens. We all remember with great sadness the horrendous loss of life at the Twin Towers and the Pentagon on that fateful morning, including the tragic loss of so many firefighters, police officers, and other first responders who heroically rushed into danger, risking their own lives to save the lives of others.

Nationwide, the men and women of our emergency response forces, like the comrades in arms of those New York and Washington first responders, share a common sense of purpose and dedication to defending their communities in times of peril.

Today, I would also like to honor the memories of two brave firefighters from my hometown of Salisbury, NC who died in the line of duty this year.

In March, the Salisbury Fire Department lost two of its finest, Justin Monroe and Victor Isler, while they were battling a blaze that may have been the worst in our town's history. Both men left behind many heartbroken family members and friends--and a grieving community.

Our thoughts have also been with several other Salisbury firefighters who suffered burns and other injuries while trying to rescue their comrades and contain the fire. As they continue to heal from that tragic day, I hope they know that our thoughts and prayers are continuously with them.

As a young boy, Justin Monroe dreamed of fighting fires. While in high school, he enrolled in the Millers Ferry Volunteer Fire Department's junior firefighter program, and in June of 2007, he accepted his dream job at the Salisbury Fire Department. Justin was proud of his work and looked forward to each and every day at the department. He was even studying for his fire technology degree at a local community college.

Justin's mother Lisa was working at Salisbury's Rowan Regional Medical Center when she learned that at least one firefighter had perished and that several others had been injured fighting the fire at Salisbury Millwork, a manufacturer of custom woodwork. Her greatest fear as a parent was realized when the body of her 19-year-old son, who had been living with her at home, was brought into the hospital. One of Lisa's colleagues summed up the emotion by saying, ``It's devastating when one of your coworkers loses a family member, but losing a child at such a young age is really heartbreaking. Children are not supposed to die before their parents.''

Justin's fallen comrade, Victor Isler, joined the Salisbury Fire Department a few days after Justin came on board. Victor moved to North Carolina from New York, where he served as a medic with the New York City Fire Department and helped save countless lives when our Nation was attacked on September 11. At age 40, Victor decided to head south and join the Salisbury department. A devoted husband to his wife Tracy and the proud parent of two teenagers, he quickly became a father figure to many of the department's younger firefighters.

Victor's childhood best friend, Chris Damato, also served in the Salisbury department. On the day after Victor gave his life, Chris' wife gave birth to a little boy, named Nicholas Victor as a tribute to their dear friend.

Our firefighters are always there in times of need. Very sadly, our communities sometimes lose some of their finest public servants like Justin Monroe and Victor Isler. Their sacrifice serves as a somber reminder of the dangers these men and women face each and every day. We owe all of our courageous firefighters and first responders a tremendous debt of gratitude for their selfless commitment to keeping us safe.

As we join together as a Nation to remember September 11, and the courage and sacrifice demonstrated by countless Americans on that day, my thoughts and prayers are also with Justin and Victor's loved ones and everyone who has been affected by these tragedies. I join with my neighbors and the entire Salisbury community in mourning their loss, and pray that they find solace in the knowledge that these men are remembered as heroes of the highest order, an inspiration to us all.

Mr. President, I ask unanimous consent that the order for the quorum call be rescinded.

Mr. President, the Federal Government has more acronyms for more Federal agencies that produce more economic statistics than anyone can reasonably be expected to comprehend in a single sitting. We have the Office of Management and Budget, the Congressional Budget Office, the Bureau of Labor Statistics, the Bureau of Economic Analysis--just to name a few.

These agencies produce a wealth of information that we use to inform our policy decisions with facts and expert analysis; but I often find that the best advice I get on matters of public policy comes not from these experts and their reports, but from the wisdom and sincerity of North Carolinians who write to me.

I received a letter recently that I think gets to the heart of our energy debate here in the Senate. It comes from a retiree who is living on a fixed income from his life savings, who resides in Lake Junaluska, North Carolina, a picturesque mountain town of 3,000 situated on a pristine mountain lake. I used to go to church camp there almost every summer when I was growing up.

``Too much energy,'' the letter reads, ``has gone into rhetoric and not enough into actually doing something about it. We have so many brilliant leaders and the ability to make major transformations, so let's concentrate on action and do whatever it takes to reduce our dependence on foreign oil.''

My friend from Lake Junaluska is right. Indeed, too much energy in this energy debate has been spent on partisan rhetoric, and not enough on delivering real solutions to provide Americans with relief from these record high gas prices.

Both sides bring important and worthwhile ideas to this debate. On one side, we see a focus on conservation and cracking down on alleged bad behavior in the energy market. On the other side, we hear more about energy exploration.

There is no ``silver bullet'' that can solve our energy woes. We need every option on the table. We need to throw everything and the kitchen sink at our energy crisis. Conservation. Alternative energy. Energy exploration. Market fairness.

There is no reason we can't develop a comprehensive strategy that includes the best ideas from both sides of this debate.

The bottom line is that high gas prices are driven by too much demand and too little supply. Last year, global demand exceeded global supply by roughly one million barrels per day. Because of that, families in my home State of North Carolina are having to pay 30 percent more to fill their tanks than they did just 1 year ago.

To truly solve this problem, we have to tackle both the demand side and the supply side. We need to find more and use less.

On the demand side, we need to make major investments in alternative energy research and take a crash course in conservation.

That is why I introduced legislation last week to repeal roughly $17 billion in tax breaks to oil companies, and pour that funding into alternative energy research. With the price per barrel of oil at record highs, the market is providing petroleum producers all the incentive they should need to produce more oil. So, that funding would be better spent by investing in alternative sources of energy that are the key to our energy future.

In the near term, we could also help decrease demand by incentivizing the purchase of hybrid and other clean fuel vehicles with point of sale rebates and by investing in better transit systems.

While decreasing demand and investing in alternative and renewable forms of energy is certainly a necessary part of any comprehensive energy solution, it is by no means sufficient. We cannot simply conserve our way to energy independence.

We must also increase supply by making better use of America's vast energy resources. We should open up 2,000 out of 19.6 million acres in ANWR to energy exploration. We should capitalize on our immense oil shale reserves, which could produce three times as much oil as Saudi Arabia's proven reserves. And we should also allow the States decide whether or not to permit offshore energy exploration at least 50 miles off their shores on the Outer Continental Shelf, where we could gain access to billions of barrels of oil.

Of course, some will argue that bringing these energy resources online will take years to complete, and won't help provide the immediate relief that folks need. But, if anything, that means we cannot afford to let another day pass without pursuing them.

After all, if President Clinton hadn't vetoed legislation in 1995 to allow energy exploration in ANWR, our current energy shortfall would already be reduced by roughly 1 million barrels per day.

To provide immediate relief, we can release one-third of the strategic petroleum reserve to inject some much-needed supply into the markets, which will drive down prices in the near term and send a signal to market speculators that the American Government is dead serious about lowering gas prices.

Because of enormous and unprecedented economic growth in developing countries like India and China, it is imperative that in this debate we keep our eyes fixed firmly on the ultimate goal of ending our dependence on foreign oil altogether. Facing an ever-dwindling global supply of oil and ever-increasing global demand for energy, this is not a goal or a debate that we can take lightly. When it comes to securing America's energy future, partisan politics need not apply.

To lower gas prices and reach our ultimate goal of energy independence, we need every option on the table--everything and the kitchen sink.

Mr. President, I yield the floor and suggest the absence of a quorum.

Mr. President, it is imperative--imperative--that American leaders declare war on high gas policies and implement policies to achieve energy independence. We are almost 60 percent dependent on foreign sources of oil, from the likes of Iran's Ahmadinejad, Russia's Putin, and Venezuela's Chavez, all of whom harbor anti-American sentiments and get richer while American families are suffering and our businesses are hurting terribly.

To secure our energy future, America needs what I would call a ``kitchen sink'' policy. We need to throw everything and the kitchen sink at our energy crisis--conservation, alternative energy, exploration, and market fairness. We need policies that provide immediate relief as well as short- and long-term solutions.

I urged that we halt deposits to the Strategic Petroleum Reserve, and we successfully passed legislation to that effect. I support right now releasing one-third of the current reserves which would increase supply, drive down prices, and signal to speculators that the U.S. Government is dead serious about addressing high gas prices.

It is also important to protect consumers from illegal market manipulation and corporate corruption. I, along with some of my colleagues, am calling for an oil and gas market fraud task force to police oil speculators and ensure that energy markets are functioning properly.

As we know, the Senate is currently considering a bill to rein in energy market speculation, and I agree that additional enforcement and transparency can help better manage these commodities that are critical to our economic and national security. We should move forward with responsible actions, but cracking down on speculators alone will not solve our gas price woes.

We must also decrease demand and increase supply. Rising gas prices are driven primarily by supply and demand imbalance in global energy markets. Last year, global demand exceeded supply by nearly 1 billion barrels per day. The result: Over the past year, gas prices in North Carolina have increased by more than 30 percent.

To decrease demand, I strongly support conservation efforts and investments in alternative energy research. No question, America needs a crash course in conservation. I have cosponsored numerous bills to pursue these goals, including the Clean Energy Investment Act, the Climate Security Act, and the Clean Energy Tax Stimulus Act.

To increase supply, we also must utilize America's vast energy resources. Surely, bringing these energy resources on line will not happen overnight but, if anything, that means we should move more quickly to pursue them. For instance, if President Clinton had not vetoed legislation in 1995 to open 2,000 acres of the 19 million acres in remote areas of Alaska for exploration, our current energy deficit would already be reduced by roughly 1 million barrels of oil a day.

After careful consideration, I support lifting the moratorium on the Outer Continental Shelf--OCS--giving States the option of allowing exploration at least 50 miles offshore, where it is not visible from land. A portion of revenues generated from leases would go to the States and could be used for dredging and beach renourishment and other coastal priorities. Families struggling with high gas prices cannot afford for Congress to keep energy options off the table. They must all be on the table.

I am excited about lifting restrictions on oil shale exploration in the Rocky Mountain West. With the potential for oil shale to produce more than three times the proven reserves of Saudi Arabia, we can ill afford to further delay utilizing this American oil resource.

However, we should not explore for more petroleum at the expense of alternative energy. We must pursue all available resources, including nuclear, clean coal, natural gas, wind, solar, and biofuels.

Along those lines, let me add that not only are families being slammed with high energy costs, but they are also being hit hard with escalating food prices. I am very concerned that food-to-fuel mandates have resulted in a substantial volume of our corn crop and vegetable oils being diverted into ethanol and other fuel supplies, severely impacting food and feed prices. In fact, since February 2006, the price of corn has increased by more than 200 percent, and this has caused feed price increases that impact the cost of basic items such as milk, eggs, and meat.

During consideration of the 2007 Energy bill, Senator Inhofe and I tried to include a safeguard in the renewable fuel standard which would have helped prevent a situation such as we face today. The administration should waive the mandates, and we need to correct these unintended negative consequences where an excessive amount of corn and vegetable oils have gone to ethanol production. This is having an impact worldwide and emptying the shelves of our food banks and our food pantries. Alternative energy must absolutely be a part of our energy future, but there are obvious and painful lessons to be learned from the ripple effects of these mandates.

One day we will be free from the stranglehold of high gas prices and dependence on foreign oil. We will power our economy with alternative energy sources, and no longer will the petrotyrants in Iran, Venezuela, and Russia be able to hold the world economy hostage.

However, to get there, we are going to have to throw everything and the kitchen sink at our energy crisis. I call on President Bush to hold a national summit now for congressional and national leaders to come together and develop a comprehensive plan. The time is now for realistic, bipartisan solutions to provide families and businesses with immediate relief to meet our energy needs for the short term and to secure our energy independence for the future.

I yield the floor.

Madam President, I ask unanimous consent the order for the quorum call be rescinded.

I ask consent to speak as in morning business.

Madam President, yesterday, hundreds of people from all walks of life and across the political spectrum traveled from near and far to Hayes Barton Baptist Church in Raleigh, NC, to pay their final respects to United States Senator Jesse Helms and to express condolences to his beloved wife, Dot, and their family.

In the days since Jesse's July 4 passing, we have heard it said by many: You knew where Jesse Helms stood. As my husband, Bob Dole said, ``You didn't have to look under the table. You always knew where Jesse was.''

Even those who disagreed with Jesse on an issue could respect the fact that he always stood tall and firm--for his convictions, his faith, his family, his home State of North Carolina, and the United States of America.

When I announced that I was running to succeed Senator Helms--and I have always said ``succeed'' him because no one could replace him--I pledged to continue his commitment to constituent service that was second-to-none. He helped thousands upon thousands of North Carolinians, Democrats, Republicans, and Independents alike. No problem was too small or too great for Jesse and his staff to take on during his 30 years of service for the people of our State and the Nation.

I can still hear my father saying, ``Jesse Helms is our watchdog. He's a relentless watchdog for North Carolina and for America!'' And Jesse often recalled that my mother was on the front row at his very first rally in Rowan County. Through the years, Jesse unfailingly phoned my mother on her May 22 birthday, and she lived to be just 4 months short of 103 years old. In fact, Jesse would often stay late at his Senate office, making thoughtful phone calls and writing personal letters to constituents, colleagues, and friends.

For all his small gestures of kindness and his great acts of service, Jesse Helms was not driven by self-serving motives. He did not seek recognition for good deeds, or public acclaim for success. Jesse shunned the spotlight of the Sunday morning talk shows. The people he served from North Carolina, he said, weren't watching, they, like he and Dot, were in church.

In 1997, Fred Barnes wrote a piece in the Weekly Standard that proclaimed: ``Next to Ronald Reagan, Jesse Helms is the most important conservative of the last 25 years . . . and the most inner-directed person in Washington.'' And Fred adds, ``No conservative save Reagan comes close to matching Helms' influence on American politics and policy in the quarter century since he won a Senate seat in North Carolina.'' Of course many have said that President Reagan might never have been elected at all without the help of Jesse Helms in the 1976 North Carolina primary--a win most pundits credit with rejuvenating the Reagan campaign--and setting Ronald Reagan up to win the nomination 4 years later.

On the national political stage, Jesse Helms was known by both fans and critics as a tough-as-nails Senator who

was a relentless fighter for the causes he believed in. A master of the Senate rules, he would use them to call up votes that required his colleagues to go on the record on difficult issues. He believed the American people were entitled to know their representatives' positions. But it was Jesse's kindness to Senate employees, his pride in his staff and his love for helping youngsters that made him absolutely legendary. He would ask the Senate pages, ``Would you like to go down and have some ice cream in the Senate Dining Room?'' Imagine the thrill for these young people when the renowned chairman of the Senate Foreign Relations Committee took time out to sit down and talk with them over ice cream.

A gentleman always, Jesse was known for his civility, among his colleagues, the elevator operators, the Capitol Hill police, and all who worked throughout the Capitol.

This past Monday evening, the Senate approved a resolution-- cosponsored by all 100 Senators--honoring the life, career and great achievements of Jesse Alexander Helms, Jr. His public career certainly yielded many notable accomplishments as a leader in the fight against communism, as a staunch protector of U.S. sovereignty, as a reformer of the United Nations, and as the first legislator of any nation to address the United Nations Security Council.

That said, in keeping with Jesse's character and his own commitment to himself not to become a ``big-shot senator,'' he would probably like for us to consider that his greatest accomplishments were in his roles as husband, father, grandfather, and friend.

My husband Bob and I are forever grateful that we were able to call Jesse Helms a friend and colleague for so many years, and we extend our deepest sympathies to the Helms family in this difficult time.

I ask unanimous consent that the pending amendment be temporarily set aside so that I may call up amendment No. 4984, that it be reported by number and then set aside.

Madam President, on March 3, 2008, Fannie Mae and Freddie Mac signed agreements with the attorney general of New York to adopt a Home Valuation Protection Code, which was crafted by the attorney general's office and approved by OFHEO, in consultation with the enterprises and other market entities. The code establishes requirements governing appraisal selection, solicitation, compensation, conflicts of interest and corporate independence, among other things.

The code's concept of appraiser independence and accuracy should be endorsed because these concepts are important to a safe and sound process that is properly structured, regardless of whether lenders use third-party, affiliated, or in-house staff appraisers. However, the code leans heavily towards inconsistent and potentially counterproductive regulation of the lending industry. Lenders would essentially be required to be regulated by the New York attorney general or suffer serious impairment of liquidity. In addition, the role of the New York attorney general in promulgating the code is misplaced and an attempted exercise of one State's regulatory authority over federally and other State-regulated lenders.

My amendment would require the Director of OFHEO to issue a regulation establishing appraisal standards for mortgages purchased or guaranteed by Fannie Mae and Freddie Mac. It would ensure that mortgages purchased or secured by Fannie Mae and Freddie Mac are collateralized by properties subject to fair and accurate appraisals, which is necessary to maintain the integrity of the mortgage process, improve the safety and soundness of the enterprises, and reduce the potential for mortgage fraud. Additionally, this amendment will also ensure the establishment of a common set of appraisal standards governing mortgage lenders that are federally supervised and regulated. This includes requiring the process controls necessary to ensure independence, avoid improper influences, and avoid overvaluation.

In May, when the Banking Committee approved this bill we are now discussing, I agreed to discuss this amendment and asked that Chairman Dodd and Ranking Member Shelby to work to include this important provision once our committee product reached the Senate floor. At the time, I appreciated how both the chairman and ranking member made favorable remarks as to the intentions of my amendment and a willingness to work with me on this, and I hope that they will now honor this commitment.

I understand the managers are working on a time certain to vote on my amendment.

I yield the floor.

Mr. President, I yield the floor, and I suggest the absence of a quorum.

Mr. President, in 2003, I made my maiden floor speech on hunger issues and how we as a Nation can tackle them. I have continued my strongest efforts to raise awareness that 1 in 10 U.S. households is affected by hunger and to advance legislation and programs that aid the hungry.

Today is Hunger Awareness Day, and as I have in years past, I welcome the opportunity to speak about the food insecurity problems that persist throughout this country and the world. Most importantly, I come to offer ideas and invigorate the discussion about solutions.

With food and energy prices on the rise, we must be particularly cognizant of the hungry. Not only do hard economic times generate a greater need for food assistance, but the very agencies and organizations that provide assistance are trying to meet growing demands while food and gas grow more expensive.

In the past few months, I have read numerous stories in North Carolina newspapers about soup kitchens and food banks struggling to serve all those in need and even schools strapped for cash to pay for their lunch programs.

For example, last weekend, the Asheville Citizen-Times ran a letter to the editor from MANNA FoodBank which said:

In 2006, we estimated that 115,500 different North

Carolinians sought emergency food aid from MANNA partner

agencies in a single year--one in six of our neighbors.

However, that data has rapidly become outdated by shifting

economic tides. Surging energy and food prices combined with

stagnant economic growth have dramatically increased the

ranks of those seeking help from food banks.

In the May 29, 2008 Raleigh News & Observer, David Reese, the chief operating officer for food recovery and distribution at the Inter-Faith Food Shuttle, is quoted as saying:

A lot of people don't realize or don't take into account

the dramatic effect that high fuel prices have, that trickle-

down effect. . . . It doesn't only affect the regular

consumer who is driving to the store. It also affects the

distributor, also affects the retailer and then the end

result, it affects us as a food-rescue organization.

Unfortunately, we know too well high food prices and hunger problems are not unique to North Carolina or even just to the United States. Indeed, as food prices continue to soar, the impacts are felt around the globe, especially among the poor in developing nations. The increase in food costs has led to international shortfalls of food supplies, resulting in food riots and civil unrest in many regions. In fact, the World Bank recently estimated that more than 100 million people are being pushed into poverty as a result of the escalation of food prices.

Congress needs to take action to ensure that policies are helping, not hurting, global food supply. For example, I believe we must reconsider mandating the use of certain biofuels which is, in part, why food prices are escalating. Last month, I joined several of my colleagues in introducing legislation to freeze the corn-based ethanol mandate at this year's level, preventing the Environmental Protection Agency from increasing the corn-based ethanol mandate included in the Energy Act of 2007 to the mandated 15 billion gallons. Instead, my legislation maintains the current level at 9 billion gallons.

During consideration of the 2007 Energy bill, I tried to include a safeguard in the renewable fuel standard which would have helped prevent a situation such as we face today. Mandates have led to more than 25 percent of America's corn crop being diverted to make fuel. In the last 2 years, the price of corn has nearly tripled, thereby resulting in feed price increases that impact the cost of items such as milk, eggs, and meat. According to the Bureau of Labor Statistics, food inflation rose by 4.9 percent last year, and studies suggest the cost of food will continue to escalate over the next few years.

While we continue to push for efforts to address rising food prices, we can celebrate some hard-fought victories in the recently passed farm bill that will support healthy foods in schools and health food banks, community kitchens, and other organizations that feed the hungry. For instance, I am pleased the farm bill's nutrition title expands the Fresh Fruit and Vegetable Program to all 50 States. In North Carolina, nearly 1.4 million children are enrolled in this program, which helps schools purchase locally farmed fruits and vegetables to provide healthy meals and fight childhood obesity. The bill also includes $1.25 billion for commodity purchases for food banks, including $50 million for 2008 to immediately address shortages at these organizations.

The farm bill also implements the Food Employment Empowerment and Development Program, the FEED Program, which I worked on with my colleagues Senators Frank Lautenberg and Blanche Lincoln. This program helps fight hunger by combining food rescue with job training and, thus, teaching unemployed and homeless adults the skills needed to work in the food service industry. It is a wonderful program.

Around the corner from the U.S. Capitol, students are hard at work in the DC Central Kitchen's culinary job-training class. Earlier today, I visited the kitchen which has a model FEED-type program that began in 1990. It is always a privilege to visit the kitchen and meet with individuals who faced adversity but who are now on track for a career in the food service industry. I look forward to the FEED Act supporting numerous similar programs, such as the Community Culinary School in Charlotte, NC, and others around the Nation.

In my ongoing efforts to stamp out hunger, today I am joining my colleague, Senator John Kerry, to introduce legislation requiring a White House Conference on Food, Nutrition, and Health to be held by the end of 2010. It has been nearly 40 years since the first and only White House summit reviewed national nutrition policy. I actually helped organize that conference while working for the White House Office of Consumer Affairs.

Positive developments and effective policies came out of those discussions. With more than 35 million Americans today facing food insecurity issues, it is high time we make ending hunger and improving health and nutrition national priorities. I encourage my colleagues to sign on to my bill.

This week, I also plan to offer an amendment to the tax extenders bill that addresses four tax issues which will encourage food donations and volunteering to help the hungry. This package was included in the Senate-passed farm bill but, unfortunately, was removed in conference. It will extend for 2 years a provision from the Pension Protection Act that allows any taxpayer to claim an enhanced deduction for donations of food. It allows restaurants to qualify for this deduction. It simplifies the rules that allow farmers and ranchers to take advantage of this deduction for donating their products. And it allows volunteers to receive a tax deduction for mileage incurred while transporting food donations.

Along these lines, I also have a bill that will provide a tax credit for the cost of transporting food to assist the hunger relief efforts of charitable organizations. The hunger relief trucking tax credit will benefit groups such as the Society of St. Andrew, which helps recover food for the needy. The society is very active in the area of gleaning, Mr. President, where excess crops that would otherwise be thrown out are taken from farms, packinghouses, and warehouses, and distributed to the needy. Each year in this country, 696 billion pounds of good, nutritious food is left over or thrown away. Gleaning helps eliminate this waste. It helps the farmer because he doesn't have to haul off or plow under crops that don't meet exact specifications of grocery chains, and it helps the hungry by giving them nutritious fresh foods. It has been a joy to glean fields in North Carolina with the society's dedicated volunteers.

In addition to working closely with the Society of St. Andrew, I have been fortunate to meet with a number of organizations that are doing tremendous work to combat hunger in North Carolina--from our food banks to Meals on Wheels and others. These organizations rely on dedicated staff and volunteers who truly live by the ideal of helping others in their time of need.

Before I close, let me share an experience I had as president of the American Red Cross. I visited Somalia during the heart-wrenching famine. In Baidoa, I came across a little boy lying under a gunnysack, and I thought he was dead. His brother pulled back that gunnysack and sat his little brother up, and I could see that he was severely malnourished. There was no way that he could eat the rice and beans that were in a bowl there beside him, and so I asked for camel's milk to feed him. And as I put my arm around that little boy to lift that cup to his mouth, it was incredible, the feeling of the little bones almost piercing through his flesh. It is something I will never forget. That is when the horror of starvation becomes real, when you can touch it.

Since I encountered that little boy in Somalia so many years ago, I have been determined to do everything in my power to fight hunger, not just at home but also internationally. For example, I have been proud to work with Senator Dick Durbin in promoting the McGovern-Dole International Food for Education and Child Nutrition Program. It has reduced hunger among school-aged children and improved literacy and primary education enrollment in areas where conflict, hunger, poverty, and HIV/AIDS are prevalent.

While tackling hunger beyond our borders is a greater challenge, in the United States, the land of plenty, no American--no American--should wake up wondering whether he or she will have enough to eat today. I firmly believe with dedicated organizations, caring citizens, and a focused government working together, ending hunger in America is certainly a victory within reach.

Mr. President, in 2003, I made my maiden floor speech on hunger issues and how we as a Nation can tackle them. I have continued my strongest efforts to raise awareness that 1 in 10 U.S. households is affected by hunger and to advance legislation and programs that aid the hungry.

Today is Hunger Awareness Day, and as I have in years past, I welcome the opportunity to speak about the food insecurity problems that persist throughout this country and the world. Most importantly, I come to offer ideas and invigorate the discussion about solutions.

With food and energy prices on the rise, we must be particularly cognizant of the hungry. Not only do hard economic times generate a greater need for food assistance, but the very agencies and organizations that provide assistance are trying to meet growing demands while food and gas grow more expensive.

In the past few months, I have read numerous stories in North Carolina newspapers about soup kitchens and food banks struggling to serve all those in need and even schools strapped for cash to pay for their lunch programs.

For example, last weekend, the Asheville Citizen-Times ran a letter to the editor from MANNA FoodBank which said:

In 2006, we estimated that 115,500 different North

Carolinians sought emergency food aid from MANNA partner

agencies in a single year--one in six of our neighbors.

However, that data has rapidly become outdated by shifting

economic tides. Surging energy and food prices combined with

stagnant economic growth have dramatically increased the

ranks of those seeking help from food banks.

In the May 29, 2008 Raleigh News & Observer, David Reese, the chief operating officer for food recovery and distribution at the Inter-Faith Food Shuttle, is quoted as saying:

A lot of people don't realize or don't take into account

the dramatic effect that high fuel prices have, that trickle-

down effect. . . . It doesn't only affect the regular

consumer who is driving to the store. It also affects the

distributor, also affects the retailer and then the end

result, it affects us as a food-rescue organization.

Unfortunately, we know too well high food prices and hunger problems are not unique to North Carolina or even just to the United States. Indeed, as food prices continue to soar, the impacts are felt around the globe, especially among the poor in developing nations. The increase in food costs has led to international shortfalls of food supplies, resulting in food riots and civil unrest in many regions. In fact, the World Bank recently estimated that more than 100 million people are being pushed into poverty as a result of the escalation of food prices.

Congress needs to take action to ensure that policies are helping, not hurting, global food supply. For example, I believe we must reconsider mandating the use of certain biofuels which is, in part, why food prices are escalating. Last month, I joined several of my colleagues in introducing legislation to freeze the corn-based ethanol mandate at this year's level, preventing the Environmental Protection Agency from increasing the corn-based ethanol mandate included in the Energy Act of 2007 to the mandated 15 billion gallons. Instead, my legislation maintains the current level at 9 billion gallons.

During consideration of the 2007 Energy bill, I tried to include a safeguard in the renewable fuel standard which would have helped prevent a situation such as we face today. Mandates have led to more than 25 percent of America's corn crop being diverted to make fuel. In the last 2 years, the price of corn has nearly tripled, thereby resulting in feed price increases that impact the cost of items such as milk, eggs, and meat. According to the Bureau of Labor Statistics, food inflation rose by 4.9 percent last year, and studies suggest the cost of food will continue to escalate over the next few years.

While we continue to push for efforts to address rising food prices, we can celebrate some hard-fought victories in the recently passed farm bill that will support healthy foods in schools and health food banks, community kitchens, and other organizations that feed the hungry. For instance, I am pleased the farm bill's nutrition title expands the Fresh Fruit and Vegetable Program to all 50 States. In North Carolina, nearly 1.4 million children are enrolled in this program, which helps schools purchase locally farmed fruits and vegetables to provide healthy meals and fight childhood obesity. The bill also includes $1.25 billion for commodity purchases for food banks, including $50 million for 2008 to immediately address shortages at these organizations.

The farm bill also implements the Food Employment Empowerment and Development Program, the FEED Program, which I worked on with my colleagues Senators Frank Lautenberg and Blanche Lincoln. This program helps fight hunger by combining food rescue with job training and, thus, teaching unemployed and homeless adults the skills needed to work in the food service industry. It is a wonderful program.

Around the corner from the U.S. Capitol, students are hard at work in the DC Central Kitchen's culinary job-training class. Earlier today, I visited the kitchen which has a model FEED-type program that began in 1990. It is always a privilege to visit the kitchen and meet with individuals who faced adversity but who are now on track for a career in the food service industry. I look forward to the FEED Act supporting numerous similar programs, such as the Community Culinary School in Charlotte, NC, and others around the Nation.

In my ongoing efforts to stamp out hunger, today I am joining my colleague, Senator John Kerry, to introduce legislation requiring a White House Conference on Food, Nutrition, and Health to be held by the end of 2010. It has been nearly 40 years since the first and only White House summit reviewed national nutrition policy. I actually helped organize that conference while working for the White House Office of Consumer Affairs.

Positive developments and effective policies came out of those discussions. With more than 35 million Americans today facing food insecurity issues, it is high time we make ending hunger and improving health and nutrition national priorities. I encourage my colleagues to sign on to my bill.

This week, I also plan to offer an amendment to the tax extenders bill that addresses four tax issues which will encourage food donations and volunteering to help the hungry. This package was included in the Senate-passed farm bill but, unfortunately, was removed in conference. It will extend for 2 years a provision from the Pension Protection Act that allows any taxpayer to claim an enhanced deduction for donations of food. It allows restaurants to qualify for this deduction. It simplifies the rules that allow farmers and ranchers to take advantage of this deduction for donating their products. And it allows volunteers to receive a tax deduction for mileage incurred while transporting food donations.

Along these lines, I also have a bill that will provide a tax credit for the cost of transporting food to assist the hunger relief efforts of charitable organizations. The hunger relief trucking tax credit will benefit groups such as the Society of St. Andrew, which helps recover food for the needy. The society is very active in the area of gleaning, Mr. President, where excess crops that would otherwise be thrown out are taken from farms, packinghouses, and warehouses, and distributed to the needy. Each year in this country, 696 billion pounds of good, nutritious food is left over or thrown away. Gleaning helps eliminate this waste. It helps the farmer because he doesn't have to haul off or plow under crops that don't meet exact specifications of grocery chains, and it helps the hungry by giving them nutritious fresh foods. It has been a joy to glean fields in North Carolina with the society's dedicated volunteers.

In addition to working closely with the Society of St. Andrew, I have been fortunate to meet with a number of organizations that are doing tremendous work to combat hunger in North Carolina--from our food banks to Meals on Wheels and others. These organizations rely on dedicated staff and volunteers who truly live by the ideal of helping others in their time of need.

Before I close, let me share an experience I had as president of the American Red Cross. I visited Somalia during the heart-wrenching famine. In Baidoa, I came across a little boy lying under a gunnysack, and I thought he was dead. His brother pulled back that gunnysack and sat his little brother up, and I could see that he was severely malnourished. There was no way that he could eat the rice and beans that were in a bowl there beside him, and so I asked for camel's milk to feed him. And as I put my arm around that little boy to lift that cup to his mouth, it was incredible, the feeling of the little bones almost piercing through his flesh. It is something I will never forget. That is when the horror of starvation becomes real, when you can touch it.

Since I encountered that little boy in Somalia so many years ago, I have been determined to do everything in my power to fight hunger, not just at home but also internationally. For example, I have been proud to work with Senator Dick Durbin in promoting the McGovern-Dole International Food for Education and Child Nutrition Program. It has reduced hunger among school-aged children and improved literacy and primary education enrollment in areas where conflict, hunger, poverty, and HIV/AIDS are prevalent.

While tackling hunger beyond our borders is a greater challenge, in the United States, the land of plenty, no American--no American--should wake up wondering whether he or she will have enough to eat today. I firmly believe with dedicated organizations, caring citizens, and a focused government working together, ending hunger in America is certainly a victory within reach.

Mr. President, nearly a year ago, I began working on the Climate Security Act with two Senators, both of whom I also serve with on the Armed Services Committee. As members of that committee, we have worked together to write and pass defense authorization bills to strengthen our national security and support our military. Senators Joe Lieberman and John Warner have moved the issue of climate security forward in the American dialogue, and I join them in that effort.

I understand this bill is viewed by most as an environmental bill-- which it is--but it is also essential to our national security. Just a few weeks ago, Secretary of Defense Robert Gates talked about the threats our Nation faces. He said, ``Rather than one, single entity-- the Soviet Union--and one, single animating ideology--communism--we are instead facing challenges from multiple sources: a new, more malignant form of terrorism inspired by jihadist extremism, ethnic strife, disease, poverty, climate change, failed and failing states, resurgent powers, and so on.'' Of the threats Secretary Gates articulated, we know the predicted negative ramifications of climate change could initiate a chain-reaction of events such as severe drought or floods that diminish food supply and displace millions of people.

Additionally, last year 11 retired three-star and four-star admirals and generals issued a report, National Security and the Threat of Climate Change. They had four primary findings: (1) Projected climate change poses a serious threat to America's national security; (2) Climate change acts as a threat multiplier for instability in some of the most volatile regions of the world; (3) Projected climate change will add to tensions even in stable regions of the world; and (4) Climate

change, national security and energy dependence are a related set of global challenges. At the release of this report, retired General and former Army Chief of Staff Gordon Sullivan said, ``People are saying they want to be perfectly convinced about climate science projections, but speaking as a soldier, we never have 100 percent certainty. If you wait until you have 100 percent certainty, something bad is going to happen on the battlefield.''

Adding to this concern, a joint report issued by the Center for Strategic and International Studies and Center for a New American Security, has made clear that we are now in the age of consequences regarding the foreign policy and national security implications of global climate change. The consequences range from expected to catastrophic, and a key finding is that the United States must come to terms with climate change. According to the report, we can expect strengthened geopolitical influence by fuel exporting countries, and a correlating weakened strategic and economic influence by importers of all fuels. We can expect many more consequences, but in short, the intersection of climate change and the security of nations will become a defining reality in the years ahead. We cannot ignore the costs of inaction and we cannot leave these massive security concerns to the next generation.

This is not a perfect bill, and a perfect bill likely does not exist. However, the fundamental approach of this bill--providing a market driven system--is the right way to address climate change.

I am disappointed that this bill fails to consider the need for more nuclear energy in the United States. Patrick Moore, co-founder of Greenpeace made the need for nuclear energy clear when he wrote, ``. . . my views have changed, and the rest of the environmental movement needs to update its views, too, because nuclear energy may just be the energy source that can save our planet from another possible disaster: catastrophic climate change.'' In order to meet all of the projected models for reducing our greenhouse gas emissions, we need a nuclear renaissance in this country, and this bill must be the vehicle by which we advance that renaissance. Nuclear energy, after decades of dormancy, must be given an opportunity to be an affordable and reliable energy choice for consumers. Wind and solar will play a role in our low-carbon energy needs, but as of now they are not reliable, and cannot provide the base load electricity generation that is needed, and that which nuclear energy, can provide. Nuclear is safe, reliable, low-cost energy and those who oppose it will find themselves in the precarious position of being unable to seriously confront climate change.

We have a solution to low-cost electricity generation in nuclear energy, and we also have a solution to high fuel costs--the answer is more domestic exploration here at home. Americans are clearly aware that our dependence on foreign oil is far too dangerous and much too costly. A significant amount of our oil comes from the Middle East, Russia and Venezuela--three parts of the world that do not have U.S. interests in mind in their oil production. As former Director of Central Intelligence James Woolsey noted, ``we're paying for both sides in the war on terror.'' At approximately $130 per barrel of oil, we are enriching, by billions of dollars, the likes of Iran's Ahmadinejad, Russia's Putin, and Venezuela's Chavez. They are flush with oil cash and are leveraging their influence against ours with Beijing and New Delhi in a geopolitical chess match.

We must shift away from our dependence on foreign oil, and this bill, probably more than any other the Congress has ever considered, provides the resources and framework to do just that. Under this bill, the Natural Resources Defense Council estimates oil imports to drop to 35 percent of total U.S. oil supply by 2030, compared to the approximately 60 percent of foreign oil imports we rely on today. In fact, by 2025 oil imports are expected to drop to around 6 million barrels per day, the lowest point since 1986. That is a savings of more than 8 million barrels a day--more oil than the United States currently imports from OPEC. We achieve these reductions through an overall reduction in demand, and increased domestic oil production due to increased use of Enhanced Oil Recovery--a process by which we sequester carbon from power plants to derive more oil from the ground. What all this means for families is that under this bill, the average household will pay 13 to 17 percent less for transportation fuels in 2020 than they did in 2007. This is a savings of up to $530 a year at the pump for Americans.

The long-term outlook is positive for weaning ourselves off of foreign oil, but there is a major flaw in this bill in that it does not address our near-term energy needs for more domestic oil and natural gas exploration and production. Increased oil and natural gas access here at home is essential to lowering the high fuel costs consumers are feeling today and for keeping them low in the early years of this bill. Lower fuel costs will get our economy back on track and increase our energy security. Unfortunately, efforts to allow that access to our American resources have been blocked for years by our friends across the aisle. The high cost of fuel is unsustainable, and we must take action to increase our domestic energy supply--this means we must explore and produce here at home. At a time when Americans are experiencing record high oil prices, we must begin exploration in areas such as the Gulf of Mexico and in remote areas of Alaska where the local population supports it. There is no silver bullet, but there are commonsense solutions that we must move forward, in the wake of $4 per gallon gasoline.

It is time to put more dollars back in the hands of Americans instead of foreign dictators. Our energy independence will drive our economic success. In keeping our economy the envy of the world, it is important to note that not addressing climate change is a costly course of action. The Stern Review, the leading analysis of the economic aspects of climate change conducted by Sir Nicholas Stern, former chief economist at the World Bank, estimates that the monetary cost of inaction is equivalent to losing at least 5 percent, or $2.4 trillion, of global gross domestic product each year.

Indeed, delaying action comes at a cost! Paul Volcker, former Federal Reserve Chairman under President Ronald Reagan stated, ``If we don't take action on climate change, you can be sure that our economies will go down the drain in the next 30 years.''

The National Academy of Sciences stated this year that global warming threatens roads, rail lines, ports, and airports. America's global competitiveness is also at stake on this issue.

We used to be the leader in wind, solar, nuclear, and other low- carbon energy. Acting on climate change first puts the United States in a position to develop and own new technologies and all the jobs that come with them. We have never ceded ground on American competitiveness to China, India, and other developing countries, nor should we on this issue. We do not address climate change without the entire world playing a role, but we also do not address it by waiting for others to act. And we can take action in a way that continues to grow our economy.

With the right policy that spurs investment and innovation, we can deploy new technologies that will cut our emissions and not change our lifestyles. We have an opportunity to seize these new technologies, or we can wait and cede ground to others.

The status quo just will not work, not this time and not on this issue. The current path is untenable. It leaves the future of our economy in the hands of volatile and unfriendly nations from which we import oil. It allows the quiet growth of the predicted negative ramifications of climate change that national security experts have cautioned us about. And it leaves us less competitive in new and green technologies.

Cap and trade, first adopted for acid rain under the 1990 Clean Air Act amendments, is an American environmental and economic success story. There is no doubt that this is a much greater challenge and one that affects every sector of the economy. We have the ability to repeat that success. Our constituents do not send us to Washington to sit back and do the easy things. Rather, they send us here to have the courage to tackle the challenges.

This may be one of the hardest things we do, but as American leaders, we have a responsibility to lead. We have a responsibility to find commonsense solutions to the hard problems

and not be afraid of carrying out those solutions.

A clean environment and economic and national security should not be Republican or Democratic issues. These are American issues. We have the opportunity to lead and to change the entire landscape of this dialog.

Mr. President, I yield the floor.

Madam President, I rise to honor those officers from my home State of North Carolina who have lost their lives in the line of duty.

In 1962, President John F. Kennedy signed a proclamation designating May 15 as Peace Officers Memorial Day and the week in which that date falls as National Police Week. During this week, tens of thousands of law enforcement officers come to Washington for events that honor their fallen comrades.

Police officers are our country's first line of defense. They dedicate their lives to making our Nation safer. While our servicemembers are fighting enemies abroad, our law enforcement officers are protecting our cities and towns here at home.

Sometimes this duty calls for the ultimate sacrifice, and, over the past year, North Carolina lost nine heroic officers: Charles Johnson Adcock Callemyn of Durham; Jason Christian Campbell of Greenville; Sean Robert Clark of Charlotte; James Heath Hardin of Hope Mills; Howard Joseph Plouff II of Winston-Salem; Jeffry Ryan Shelton of Charlotte; Alan Christopher Silver of Rocky Mount; Shawn Joshua Dean Williams of Old Fort; and Bobby Lee Cox of Burke County.

North Carolina, and indeed the whole country, is forever indebted to these and all of the Nation's police officers who have lost their lives in the line of duty. May God bless the families of these brave men and women and comfort them with the fact that their loved one's service has made America a better, safer place.