[Congressional Record Volume 150, Number 50 (Monday, April 19, 2004)]
[Senate]
[Pages S4083-S4084]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                               GAS PRICES

  Mr. WYDEN. Mr. President, like you, I was home over the last few days 
and very much enjoyed being with you, and I particularly enjoyed the 
honor we received from the Classroom Law Project. It has been a 
tremendous privilege to be able to team up with you on those kinds of 
initiatives.
  I want to discuss one of the issues about which I heard a great deal 
and I am sure you did as well when we were home. Gas prices in Oregon 
have now hit an all-time high. Over this past weekend, folks in Eugene 
and Medford in particular were paying more than $2 a gallon. Of course 
in our State this works a tremendous economic hardship. Folks have to 
drive long distances in many communities, and particularly for small 
businesses it is of tremendous economic concern at this time.
  In light of what I saw last night on the news program ``60 Minutes,'' 
I want to talk for a few moments about a resolution I have introduced 
recently calling on President Bush to put some real heat on the Saudis 
and OPEC to increase oil production in order to help the kind of people 
I saw over this last week in Oregon who are getting mugged at the gas 
pump.
  When I introduced this resolution recently, to put some real 
pressure, a full-court press on OPEC to increase oil production, I 
wrote a resolution that mirrored what a number of our colleagues 
offered during the years when Bill Clinton was President.
  There was an objection to the Senate considering my resolution to 
start putting some pressure on OPEC and the Saudis to increase 
production. It seems to me given what a lot of us saw on ``60 Minutes'' 
last night, I hope some of our colleagues and friends on the other side 
of the aisle would now reconsider my resolution and reconsider their 
objection to it.
  In an interview last night on the CBS news magazine, the Washington 
Post's Bob Woodward talked about the substance of a reported 
conversation between our President and Saudi Arabia's Ambassador to the 
United States, Prince Bandar. Reading a portion of Mr. Woodward's new 
book, correspondent Mike Wallace said last night, ``Bandar wanted Bush 
to know that the Saudis hoped to fine-tune oil prices to prime the 
economy 2004. What was key, Bandar understood, were the economic 
conditions before a Presidential election.''
  I want to start my discussion this afternoon with the question, 
Should the United States allow a foreign power to decide our Nation's 
energy security? Certainly this is a troubling question.
  It seems to me the pieces of the gas price puzzle are beginning to 
come together. I will tell you that I believe it forms a very troubling 
picture.
  On March 31, the New York Times reported a senior official in an OPEC 
country as having said the United States is placing ``very little'' 
pressure on the oil cartel to increase gas prices. The Saudi official 
continued by saying of OPEC's discussions with the United States, 
``We're telling them, keep your mouth shut.''
  Days later, OPEC moved to ratify a 1-million-barrel-per-day 
production cut that would further drive up gasoline prices in our 
country. The Reuters news service then reported the Saudi Foreign 
Minister was asked whether the United States had expressed any 
disappointment over OPEC's production cut. The Saudi Foreign Minister 
said, ``I didn't hear from this Bush administration. I'm hearing it 
from you that they are disappointed.''
  Last night on ``60 Minutes,'' Bob Woodward told us the Saudi 
Ambassador indicated to the President that ``certainly over the summer, 
or as we get closer to the election, they could increase production 
several million barrels a day and the price would drop significantly.''
  I can understand why the Saudis would want to cut production right 
before the heavy summer driving season, the period that is coming upon 
us. The Saudis want to boost their profits. I have always said OPEC is 
going to stand up for OPEC. Anybody who thinks OPEC stands up for the 
American consumer thinks Colonel Sanders stands up for chickens.
  I understand the Saudis and that country are going to be interested 
in everything that will boost their profits. I can understand why any 
President would want gas prices to be low with an election coming fast. 
But what about what the American families want?
  We know what the Saudis want. We know about the climate before a 
Presidential election. While the Saudis count the profits and the 
President counts on the word of the Saudis, American consumers are 
counting out more and more of their hard-earned dollars just to fill up 
at the gas pump.
  When the market opened this morning, U.S. crude oil futures were 
$37.74 a barrel, which is about $8.50--or about 30 percent--higher than 
a year ago.
  As I noted over this last weekend, Oregon families were paying an 
all-time high for gasoline. A number of our communities have seen 
prices of over $2 a gallon.
  With gas prices through the roof, the administration should have 
pressured OPEC ahead of the cartel's planned reduction cut, and the 
President should have used his relationship with the Saudis to bring 
relief to American consumers.
  Let me repeat that. You have the prices soaring through the roof. You 
have the administration with an opportunity ahead of time to put 
pressure on OPEC ahead of their planned production cut. Certainly the 
President has had the kind of relationship with the Saudis that would 
ensure they listen seriously, and yet we saw this morning's report 
indicating the White House had different priorities when it came to 
gasoline prices, OPEC, and the Saudis.
  My view is there just isn't any substitute for leadership when our 
families are hurting financially. Unfortunately, we haven't seen it in 
recent days.
  I call on the Senate once again to send a clear message that the 
American people come first. The President ought to be using his 
relationship with the Saudis to help reduce gasoline prices now--not at 
a time of his choosing or the Saudis' choosing. It ought to be at a 
time when it best meets the needs of our consumers, and that is right 
now.
  I ask the Senate to once again consider my simple resolution. It 
parallels the one that was authored by our friends and colleagues now 
in the Cabinet, Senator Abraham and Senator Ashcroft, who were then 
serving in this distinguished body. The resolution I authored mirrors 
theirs to bring pressure to bear on OPEC and the Saudis to increase 
production. The Senate ought to be able to act at least as quickly on 
my resolution as it did on the one that passed in 2000. That was good 
enough

[[Page S4084]]

for President Clinton, and it ought to be good enough for this 
President.
  As I noted, we have had a number of our former colleagues in support 
of it. The previous resolution was introduced on February 28, 2000, and 
was passed on March 27. I am very hopeful with crude oil prices at a 
13-year record high the Senate will now apply the same principle in 
this administration that was applied in the Clinton administration. We 
ought to say on a bipartisan basis that every American President ought 
to have a full-court press in place in order to stand up for the 
consumer, to stand up to OPEC, and to speak up for our families who are 
getting clobbered at the gas pumps.
  In conclusion, this morning I noted the White House had no comment on 
the Saudi promise to cut oil prices. They said, Well, you can ask 
Prince Bandar, and essentially said they weren't going to get involved.
  I will say based on what I heard this weekend that standing on the 
sidelines isn't good enough. This is an area that the Senate ought to 
come together on in a bipartisan basis, the way it did in 2000. It is a 
key part of I think a comprehensive strategy to hold down gasoline 
prices.
  I have been trying to get the Federal Trade Commission off the 
sidelines. Certainly a lot of these refinery shutdowns smell because 
they look more to be boosting profits than boosting competition. But 
today I come to the floor of the Senate, given that very troubling 
report last night on ``60 Minutes'' and say I think there needs to be a 
full-court press and a comprehensive push on OPEC in order to lower 
gasoline prices.
  We have seen this troubling issue raised in the last 24 hours which 
makes me feel the question of how much pressure is being put on OPEC 
and when it is being put doesn't seem to be done in a way that is going 
to best get relief to the American consumer. The American consumer 
deserves to have a White House that is pushing now and pushing hard to 
get relief for the consumer at the gas pumps.
  I hope my colleagues on the other side of the aisle will reconsider 
their objection to my resolution to urge OPEC to increase production 
and increase it quickly so it can be passed by this body on a 
bipartisan basis as soon as possible.
  I yield the floor. I suggest the absence of a quorum.
  The PRESIDING OFFICER (Mrs. Dole). The clerk will call the roll.
  The legislative clerk proceeded to call the roll.
  Mr. DeWINE. Madam President, I ask unanimous consent that the order 
for the quorum call be rescinded.
  The PRESIDING OFFICER. Without objection, it is so ordered.

                          ____________________