Energy Security and Oil Dependence-Recommendations on Policies and Funding to Reduce U.S. Oil Dependence, Hearing Before a Subcommittee of the Committee on Appropriations, United States Senate, One Hundred Tenth Congress, First Session, May 8, 2007   [open pdf - 164KB]

From the opening statement of Byron L. Dorgan. "We're here to take testimony and better understand the key steps and funding mechanisms that are necessary for reducing U.S. oil dependence and for future U.S. energy security. We'll also discuss the results of an analysis conducted to assess the economic impact of implementing the recommendations to the Nation on reducing U.S. oil dependence, a report that has been put together by the Energy Security Leadership Council. That's a group of distinguished business and military leaders who, like me, view U.S. oil dependence as detrimental to our long-term security interests as well as our economic health. I think it's safe to say that the goal for all of us is to improve the national economic and energy security of the United States. I'm a little tired, especially today, when I put gasoline in my vehicle, of thinking about how that price may or may not be computed. The oil cartel, the OPEC ministers, will sit around a table, presumably in a closed room, and make their production decisions. Then the major oil companies, always with two names now because of the mergers, larger and stronger with more muscle in the marketplace, exert that strength in the marketplace. I think of the spot market which has become an orgy of speculation rather than simply a market of liquidity." Statements, letters, and materials submitted for the record include those of the following: Byron L. Dorgan, Pete V. Domenici, Larry Craig, Thad Cochran, Alexander Karsner, R.M. Burton, Fredrick W. Smith, Gregory G. Johnson, and Robert F. Wescott.

Report Number:
S. Hrg. 110-260; Senate Hearing 110-260
Public Domain
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Government Printing Office, Congressional Hearings: http://www.gpoaccess.gov/chearings/index.html
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