[Congressional Record Volume 148, Number 48 (Thursday, April 25, 2002)]
[House]
[Page H1624]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




         WESTERN HEMISPHERE OIL SUPPLIES NOT NECESSARILY SECURE

  (Mr. HALL of Texas asked and was given permission to address the 
House for 1 minute and to revise and extend his remarks.)
  Mr. HALL of Texas. Mr. Speaker, today I want to address the question 
of security of our oil supply. The political dynamic that resulted in 
the crippling Arab oil embargo Americans suffered throughout 1970s is 
not exactly the same today. Fuel sources today are much more diverse.
  However, our oil supplies are still vulnerable. Recently, crude oil 
and refined product shipments in Venezuela were at a virtual standstill 
due to the off-again and on-again regime of Hugo Chavez.
  Mexico's oil industry has come on strong in recent years with Mexico 
establishing itself as the second largest producer in the Western 
Hemisphere. But the state-owned oil company, Pemex, continues to 
struggle for lack of investment of capital.
  Fortunately, the United States can look to Canada for supply. 
According to EIA, from January through November 2001, the United States 
imported more oil and refined products from Canada than any other 
country.
  Mr. Speaker, we cannot take any foreign oil supply for granted. We 
must realistically turn to the development of new domestic sources of 
oil and gas reserves in the offshore, in the Rockies and in Alaska. We 
have the know-how and the resources to accomplish this. If not now, 
when?

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