[Congressional Record (Bound Edition), Volume 154 (2008), Part 3]
[House]
[Page 4073]
[From the U.S. Government Publishing Office, www.gpo.gov]




                            THE PRICE OF OIL

  (Mr. SHIMKUS asked and was given permission to address the House for 
1 minute and to revise and extend his remarks.)
  Mr. SHIMKUS. Madam Speaker, energy security is national security. 
When President Bush was sworn into office, a barrel of crude oil was 
approximately $27 a barrel. When the Democrats took over the House, the 
price of a barrel of crude oil was $58, a $31 increase.
  Since this Democrat-controlled House has been in power, the price of 
a barrel of crude oil has gone from $35 to today $110 a barrel of crude 
oil.
  Now, what's the solution? The solution is more supply. Democrats 
continue to block Outer Continental Shelf exploration. They continue to 
block oil exploration. They continue to block coal-to-liquid 
technologies.
  More supply brings lower prices. If you know basic economics supply 
and demand, you know that if you have a high demand you need more 
supply.
  Until we bring more supply back into this debate, the only thing we 
could tell our consumers and our constituents is be prepared for more 
price spikes. Energy security is national security.

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