[Congressional Record Volume 154, Number 128 (Wednesday, July 30, 2008)]
[House]
[Page H7334]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                   THE TRUTH ABOUT OFFSHORE DRILLING

  (Mr. MORAN of Virginia asked and was given permission to address the 
House for 1 minute and to revise and extend his remarks.)
  Mr. MORAN of Virginia. Well, Madam Speaker, now we know the truth, 
that the television ad that the Republican Presidential candidate is 
using to impugn the patriotism of his Democratic opponent is a complete 
fabrication. So I guess we shouldn't be too surprised when the same 
camp is trying to convince the American people that offshore oil 
drilling is going to reduce the price of gas. Sure, it will--in more 
than a decade, by two to four cents. In fact, the Bush/Cheney 
administration's own Energy Information Administration has said that 
ending the Federal moratorium ``is certainly not going to make a 
difference in the next 10 years.''
  In fact, the Big Oil companies already have access to more than 34 
billion barrels of offshore oil they're not even drilling. All it's 
going to do is give more profits to these oil companies by being able 
to have publicly-owned reserves on their balance sheets, increasing the 
value of the oil shares.
  The fact is, though, that lies and half truths say far more about the 
people uttering them than the people who are targeted by them.

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