Military Construction, the Department of Veterans Affairs, and Related Agencies Appropriations Act

Floor Speech

BREAK IN TRANSCRIPT

Mr. GRASSLEY. Mr. President, I don't know how many times I have come to the floor in the last several years or maybe in the last several days to talk about energy. In the process of talking energy, I always say I am for ``all of the above,'' as a lot of my colleagues do; meaning all forms of energy, which would be petroleum, natural gas, alternative energies, including biofuels and wind, conservation as a third one, and nuclear energy as a fourth one. I still believe that. Although I believe some of my colleagues who say they are for ``all of the above'' are for everything that is underground but not much above the ground. So I think there is an inconsistency there.

With that background, I want to talk about something that is going to happen tomorrow morning. The Senate banking committee is scheduled to mark up legislation called the American Crude Oil Export Equality Act. I don't have any fault with that action tomorrow.

This bill would repeal the four-decade ban on the export of domestically produced crude oil. This ban was put in place in response to the Arab oil embargo, which created an energy crisis and led to fears of crude oil shortages. That goes back to the 1970s. The recent technologies of horizontal drilling and fracking of oil shale has resulted in enormous increases in domestic crude oil production and reduced oil and gas prices. This has led to the domestic oil industry's insistence on repealing the export ban.

I am all for fair and free trade. I recognize that Iowa manufacturers and farmers benefit from the export markets. One of every five tractors produced by John Deere is exported. Much of Iowa's agricultural abundance, both commodities and livestock, is exported. I understand, then, the economic benefit and economic impact that vibrant export markets can have on the domestic economy, creating good-paying jobs, and on productivity.

What bothers me is not that Big Oil is on the cusp of achieving their highest priority in getting Congress to pass a bill to repeal the export ban, what bothers me is that Big Oil is pushing Congress to repeal the ban, while at the very same time continuing to attack and undermine domestic renewable fuels. Iowa does not produce any crude oil or natural gas, but Iowa farmers lead the Nation in the production of homegrown, renewable, clean ethanol and biodiesel.

Congress created the renewable fuel standard to guarantee that consumers have a choice to buy clean renewable fuel. Big Oil has fought tirelessly to repeal and undermine the renewable fuel standard law because they are afraid of competition. If Big Oil wants to get the export ban lifted, I would suggest they end their selfish pursuit of the repeal of the renewable fuel standard.

Big Oil should be satisfied with achieving their highest priority, a repeal of the export ban, and drop then their crusade against clean-burning biofuels. It is time for Big Oil to stop acting like pigs at the trough. It is time for Big Oil to lay off the renewable fuel standard.

I yield the floor.

I suggest the absence of a quorum.

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