[Congressional Record Volume 146, Number 28 (Tuesday, March 14, 2000)]
[Extensions of Remarks]
[Page E300]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                     MOTHER NATURE WAITS ON NO ONE

                                 ______
                                 

                     HON. LOUISE McINTOSH SLAUGHTER

                              of new york

                    in the house of representatives

                        Tuesday, March 14, 2000

  Ms. SLAUGHTER. Mr. Speaker, oil prices have tripled since the end of 
1998 and are higher than they have been in nearly a decade. Today in 
response, I am cosponsoring legislation that is an aggressive response 
to the reduction in oil produced by the Organization of Petroleum 
Exporting Countries (OPEC) nations. This legislation would direct the 
Administration to file a case with the World Trade Organization (WTO) 
against oil-producing countries. Article XI of the General Agreement on 
Tariffs and Trade (GATT) prohibits members of the WTO from setting 
quantitative restrictions on imports or exports. I believe oil-
producing countries' production limits fall within this Article, 
therefore these countries have violated the rules of the WTO. With the 
majority of oil-producing nations already members of the WTO or in the 
process of applying for membership, a complaint filed by the United 
States would have an immediate impact on the current and future 
behavior of these countries.
  This particular crisis has to be investigated. I consider these 
actions a shameful display of ingratitude on the part of Kuwait and 
Saudi Arabia, after Americans put their lives on the line to safeguard 
the stability and oil fields of these nations in the Gulf War.
  I was pleased with Secretary Richardson's efforts to meet with oil 
industry representatives and OPEC members, but I frankly think that the 
cautious approach that the White House is taking is still too little 
and too late. We know that actions will speak louder than words.
  The people that I represent in Monroe County, New York, have the 
dubious distinction this year of having had more snow than any place 
else in the United States. My constituents were then especially hard 
hit by the high heating oil and diesel fuel costs this winter. Now, the 
rest of the country is being affected by the soaring cost of gasoline. 
These enormous oil price increases pose a significant threat to our 
nation's continued economic growth by increasing the likelihood of 
inflation and the costs of doing business.
  So, on behalf of all my constituents today who are still shoveling 
snow, paying their heating oil bills and now paying these high gas 
prices, I want to say to my colleagues and to everyone in this Congress 
that quick action is needed now. Mother Nature waits on no one.

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