OFFICIALS LEGISLATION INTEREST GROUPS PUBLIC STATEMENTS COMMITTEES VETOES

The Law of Supply and Demand

Date: June 12, 2008
Location: Washington, DC
Issues: Oil and Gas

Mr. CALVERT. Madam Speaker, 2 years ago, my colleagues on the other side of the aisle told the American people they had a commonsense plan to bring down gas prices. Unfortunately, we still haven't seen this commonsense plan, so I would like to offer my own.

This is a drill bit. The drill bit goes into the ground. Oil comes out of the ground. Oil goes to a refinery. Gasoline comes out of the refinery. More gas, price comes down.

Let me repeat that for those on the other side who seem not able to understand that.

This is a drill bit. The drill goes down into the ground. Oil comes out of the ground. Oil goes to the refinery. Gasoline comes out of the refinery. More gas, price comes down.


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