Senator says Senate must study breakup of oil firms

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Tue, 25 Apr 2006 19:14:08 -0700

[Zepps_News] The Raw Story | Senator says Senate must study

breakup of oil firms

 

 

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ml

 

 

 

Senator says Senate must study breakup of oil firms

 

RAW STORY

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Published: Tuesday April 25, 2006

 

 

http://rawstory.com/email_story.php?sid=1935

 

 

In a speech today on the Senate floor, Sen. Charles Schumer (D-NY)

proposed considering the breakup of oil firms.

 

" We also have to reexamine whether having only a handful of giant oil

companies can coexist with the needs of the American consumer and a

rational energy policy in this country -- I do not believe it does, "

Schumer declared. " And so I'll be offering an amendment to the

supplemental that will require a complete examination as to whether or

not we should break up the big oil companies. "

 

" Enough is enough, " the New York senator added. " We have no

competition.

There are signs of it. I've talked to business leaders who buy oil and

gas products, major, conservative Republican business leaders, and they

don't believe the market is on the level. "

 

Schumer's full speech follows.

 

 

 

 

" The president today just spoke about high gas prices. And to listen to

the president, you'd think that it's the local gas station that's the

problem. We all know it's the big oil companies who are causing these

massive price increases that go way beyond what supply and demand would

merit.

 

" There were five words missing from the president's speech today: Get

tough on big oil. The president refuses to do that.

 

" All the gouging bills that we've heard about that are coming from the

other side don't mention the big oil companies. They act, again, as if

the local gas station -- talk to your local gas station people.

They're getting these prices from the big companies, and they have no

choice to do what they do.

 

" The president doesn't touch his friends at the big oil companies.

It's nice that the president is finally talking about gas prices, but

talk is cheap and gas isn't.

 

" So America's security won't end with protecting our ports. We have to

become energy secure as well. Gas prices are skyrocketing. And anyone

who tells you that it was supply and demand that raised the price 40

cents in the last month, is not looking at the numbers of supply and

demand, which did not change terribly dramatically.

 

" If $75 a barrel, $3 a gallon isn't a wake-up call to this country,

then what is?

 

" And prices are going to continue to go up. If we do nothing, we'll

look back at the days when it was $3 a gallon, and say, " Boy, that was

a lot better than it is today. "

 

" So we need to do three things -- and we are pushing for three things

in the real security package that the House and Senate leadership --

Democratic leadership on both sides -- have put together.

 

" First, we have to dramatically increase conservation. We're not doing

any of that. The fact that China has higher mileage standards than we

do should make us weep. And China is not a country caring about the

environment -- they're doing it just to keep their economic strength.

 

" We need to develop new energy sources -- a crash program for

alternatives, a Manhattan Project.

 

" And we also have to reexamine whether having only a handful of giant

oil companies can coexist with the needs of the American consumer and

a rational energy policy in this country -- I do not believe it does.

And so I'll be offering an amendment to the supplemental that will

require a complete examination as to whether or not we should break up

the big oil companies.

 

" Enough is enough. We have no competition. There are signs of it. I've

talked to business leaders who buy oil and gas products, major,

conservative Republican business leaders, and they don't believe the

market is on the level.

 

" So on the supplemental that comes up, we're going to focus on port

security, we're going to focus on energy independence, and oil prices,

and we're going to do everything we can to see that America becomes

secure in every way that it should. "

 

 

--

" Now, by the way, any time you hear the United States government

talking about wiretap, it requires -- a wiretap requires a court

order. Nothing has changed, by the way. When we're talking about

chasing down terrorists, we're talking about getting a court order

before we do so "

-George W. Bush, April 20, 2004

 

Pay your taxes so the rich don't have to.

 

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