Adaptation to Changing Crude Oil Markets

Floor Speech

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Mr. THOMPSON of Pennsylvania. Mr. Chairman, I thank my colleague for the time to speak on this bill, which I wholeheartedly support, because ending this oil export ban will not only boost our economy, it will also improve our foreign policy.

I also rise with hesitation to a proposed amendment that would remove a provision of this bill boosting payments to the 60 ships of our maritime security fleet. These ships are essential in transporting cargo to the men and women of our Armed Forces who are serving overseas in harm's way. As evidence of this, 90 percent of all cargo moved to Iraq and Afghanistan has been transported on these privately owned ships.

As of right now, Mr. Chairman, the stipend provided by the government is too low to make this program viable to those who have stepped up to defend our Nation against foreign threats. Without this increase, it is likely that participants will drop out of the program. This, obviously, is a national security threat.

It is estimated that for the government to replicate this program, it would cost more than $50 billion in taxpayer money. This programs saves money while enhancing our security, and I encourage my colleagues to avoid supporting this amendment, but voting ``yes'' to lift this outdated oil export ban.

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