[Congressional Record (Bound Edition), Volume 146 (2000), Part 14]
[House]
[Page 19935]
[From the U.S. Government Publishing Office, www.gpo.gov]



                 RECKLESS USE OF STRATEGIC OIL RESERVE

  (Mr. FOLEY asked and was given permission to address the House for 1 
minute and to revise and extend his remarks.)
  Mr. FOLEY. Madam Speaker, have you ever noticed that when you borrow 
money from your savings account with good intentions, it never seems to 
find its way back to the account? Well, that is what we are doing with 
the Strategic Petroleum Reserve account.
  We are announcing today that in order to help oil prices, that we are 
going to release 30-plus million barrels of oil from that strategic 
reserve. The question is, when do you replace it, and how much is the 
cost when it is replaced?
  The campaign of the Vice President is quickly running out of gas 
itself, so, in order to make themselves also more popular with voters, 
they have succumbed to a ploy that I think is reckless and dangerous. 
Every editorial board around the country has condemned it as a bad idea 
and not appropriate.
  Madam Speaker, this administration sued Microsoft. They should have 
sued OPEC. We have got a lot of problems with price collusion. Maybe 
the American taxpayer would not be worrying about future energy prices 
or supplies if they had acted more aggressively. Here are our friends 
that we bailed out of the Kuwait invasion now turning against us by 
raising oil prices daily.

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