-9999

Floor Speech

BREAK IN TRANSCRIPT

The PRESIDING OFFICER (Mr. Markey). The Senator from Maryland.

Mr. VAN HOLLEN. Mr. President, I just wanted to take a few moments to respond to some of the remarks made by my colleague from Wyoming.

I think we all saw a jump in big gas prices when Putin invaded Ukraine. Then this body called upon the President, in a bipartisan manner, to say that we don't want to import any Russian oil into the United States because we don't want our dollars going to Putin to help fund his war. That was the right thing to do. That also increases gas prices.

We also know that there are thousands of leases on public lands that are not being used today and drilled by oil companies that have those leases. In fact, the Senator from Massachusetts, the Presiding Officer, has said we should have a law saying use it or lose it. And I support that position because instead of using it, you see oil companies exploiting the current situation to have windfall profits and use those profits not to reinvest in war production but to engage in stock buybacks to help their CEOs while they keep the prices high.

BREAK IN TRANSCRIPT

Source