Cornyn gets it right on fuel costs

Texas Insider:

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“It's been two years since Speaker Pelosi said that her party, the Democratic Party, had a common-sense plan to bring down prices at the pump. And I'm left to wonder how long we'll have to wait to hear what that common-sense plan is….In the two years that have gone by -- almost two years -- we've gone from $2.33 for an average price for a gallon of gas to $3.61. That translates for an average family, a $1,400 increase in expenses a year associated with their gasoline costs -- $1,400 a year. So the Federal government has essentially imposed an additional tax by its inaction for the average working family in this country.”

“We know that Congress has been one of the biggest obstructions to increasing oil supply and lower prices at the pump…If we were to develop the known resources that we have available in Alaska that the Senator from Alaska just talked about, Senator Murkowski, it would be the equivalent of $55-a-barrel of oil -- $120-a-barrel for foreign oil versus $55-a-barrel for American oil.

We could also produce the oil from American reserves in the outer continental shelf at a price of roughly $63 a barrel, versus $120 a barrel for foreign oil. It seems to me like we are missing a great opportunity here, not only to help bring down the major price driver of gasoline costs -- 70% of the cost of gasoline is the cost of oil -- but also to make ourselves more secure and less dependent on foreign sources of oil, enhancing our national security and help bolstering our economy at the same time.”

“Why Congress would mandate, in effect, that we can't buy American -- that we have to buy foreign when it comes to oil -- is beyond me....

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The Democrats want oil to cost more because they think that is a way to greater conservation. That is the reason they have been strangling new production. Democrats in general just hate energy of all types. It is not just oil. They hate coal, nuclear, wind and hydroelectric and if solar ever became competitive they would hate it too. There would be something in the manufacturing process they would find objectionable. They have set out to make our lives miserable and more costly and they are succeeding.