Refinitiv Newscasts - U.S. Senators introduce ban on Russian energy imports 1

Canada Carbon

03/03/2022 21:19

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>> [inaudible 00:06:23]. >> We have more people coming as group. >> Hey, how
are you? >> [inaudible 00:06:39]. >> Hey Josh, I'm sorry. Thank you. >>
[inaudible 00:06:44]. >> We'll just wait on. They're just finished up voting
and I'll be up. First of all, let me just say this to all of my colleagues. I
just can't tell you how proud we all are of us coming together, and basically
we're coming together all the support of Ukraine. What's happening in Ukraine,
it's absolutely the carnage we see going on, innocent peace-loving people
being attacked viciously by Russia, by Putin's Russia. Let's put it very
clearly, Putin's Russia. And we have to do everything we can to support them.
I was very proud of the president when he said that basically there won't be
one inch of NATO land that we will not defend. That's a strong statement and I
feel very strongly about that, and I think showing the support that we have
and united about this, we will. But one what we can't make no mistake. This
energy has become a weapon of war for Putin. And he's using that as a weapon
of war. He's using it against all of Europe, if you will. But Ukraine is
basically the catalyst of what he's doing. What we're doing today is we
introduced a bill, it has been dropped. We have I think there's 18 others,
nine Ds and nine Rs that are on this piece of legislation that basically bans
the Russian energy imports act. That's all it is. We're banning Russian
imports act. What we're banning is basically petroleum, petroleum products,
crude oil, LNG, CO, mostly all fossils coming in the United States and
whatever they should be. It's an impressive group that we've put together
here, but we're also united and basically if we can't show the uniting support
that we have for Ukraine and backing Ukraine, and making sure our allies, NATO
allies know how supportive we are and that we're united behind them too and
protecting them, if we can't do that here, this is going to be very hard to
have them hold on lines together, and that's been always my concern. I've said
this is young person, I think I'm the oldest person here, no, let me just say
I've never been more concerned since the Cuban Missile Crisis as a young
15-year-old. I remember that vividly. Man, we were scared, I mean, really
scared of what could happen because we knew the effects of a nuclear war. I'm
as concerned now about what this could escalate into if we don't do what we're
doing now and stop. And hopefully, he will understand the economics of this to
his country and in detriment to his own country in Putin. With that, I think
we can show solidarity here, but also we can make a difference. It also shows
you the fragility of energy in the markets around the world and what we're
dealing with. United States has the ability to backfill and help all of our
allies around the world as they use this energy as a weapon. But we have to
make sure that we're doing ours. We do it cleaner than anybody else. We do it
in a better fashion than anybody else. And we have the ability with the
reserves to do much more during this time of crisis. I hope we all take that
in consideration. We're going to step up and we're asking the government step
up. I've spoken to most of the largest CEOs, petroleum CEOs in the United
States. They basically are all over the world. They have markets over the
world. They have their tentacles everywhere in the world and spoke to all and
I asked them, I said, I want you to do everything you possibly can. They say,
we have basically started aggressively pulling back all of our investments and
pulling back all of our dependency on Russian products. That's great. I
applaud them for that. And I said, I need you to do something else. I need you
to make sure you make a commitment to basically the United States economy and
the citizens of the United States will not be impacted because of corporate
profits or shareholders profits, whatever it would be during this period of
time of crisis. They all said this is a matter of national unity for us too,
and I was very proud to hear that, so I'm going to say that everyone seems to
be very much onboard 100% in supporting this effort. With that, I have no
concerns that we should have any shortages right here. The United States of
America in 2019 was producing 12 million barrels a day, 12.3. We're down 11.2
because of COVID, market dropped off. We have no problem at all ramping back
up with what we already have ready to go. We can backfill that. We have
tremendous amount of LNG. We have a tremendous amount of gas that we can
produce the LNG for. We're expanding on our exports as far as with our LNG
terminals, Germany is putting two terminals to receive LNG so they don't have
to depend on Russia. It's up to us to make sure that we connect all of that
together. Without further ado, I want to thank one of our co-sponsors, one of
our lead co-sponsors and everyone you see here, this is a bicameral event. You
have House members in Josh Gottheimer and Brian Fitzpatrick here, and then
basically the group that we've put together. So I will bring Lisa Murkowski up
at this time and Lisa, if you will. >> Thank you. It's good to be working with
my buddy Joe Manchin on bipartisan things. There has been a flurry, flurry of
bills that you have seen, ideas floated out there in the past week, bills that
have been introduced. I think the difference with what you have here is this
is bipartisan. It means it actually has some legs and the fact that it is
bicameral as well, I think is one of the reasons why you've got so many folks
that are gathered here today, because this is actually something that can make
a difference, that can get Putin's attention. Senator Manchin has used the
words, Putin is not afraid to weaponize energy. He's been doing that. We've
seen it all along into this lead up, and there's been an approach and a policy
from this administration that says we don't want to do that, we don't want to
put that on the table. Well, I'm sorry, sir. It's already on the table and
it's been put on the table by Putin. What can we do to respond? Well, I will
tell you today, our message should be pretty clear and pretty simple. No more
Russian energy should come into the United States for the duration of this
bloody horrifying an unprovoked war against Ukraine. This measure is in direct
response to what Russia is doing with the bombing of the schools and the
hospitals and the apartment buildings, forcing the Ukrainians to flee their
country, killing the innocents that remain, and using some of the worst
weapons in the world and indiscriminately to do it. These are not just acts of
war, they're war crimes. And there should not be a single additional American
dollar allowed to finance these atrocities. So the president has said, I'm
going to use every tool in the toolbox. Mr. President. This is a tool, the one
tool that might just force Vladimir Putin to sue for peace here. So we've got
an opportunity here to address this. We in this country can move today to ban
Russian energy imports. So we know that we've been bringing Russian crude into
this country and oil products. But we've been seeing those numbers drop. Back
in 2021, everyone's looking at those numbers. It's about 700,000 barrels that
were coming in. We've started to see companies that are basically self
sanctioning in light of Russia's activities. According to EIA's preliminary
data, US crude imports from Russia were near zero at January. So to Senator
Manchin's point, we can backfill all of this, but I think people need to put
it into context in terms of how much we might need to step up. I'm confident
that we can fill up the supply gaps by American production, along with our
allies in Canada, for instance. So I would urge the president, take your
counterproductive policies like taxes and royalty hikes. Take them off the
table. Give the industry the confidence that it needs to be producing more. He
might not want to hear this, but I think the most important step that can be
taken right now to lower domestic gas prices because that's what everybody
wants. How are we going to get the prices down? It's almost psychological in
nature. He's got to change course. He's got to embrace American energy. He's
got to tell the public that he's doing this. That's going to do a lot more to
calm than some temporary spoil sale. We've seen that, you don't get much
mileage out of that in terms of reduction in the price. You don't see it
calming the markets. So to me, this is clear as day. We're not going to send
Russia any more US dollars to help them kill innocent people. This bill will
do it. It's bi-partisan, it's bicameral and it needs to move today. So let's
go to the other side of the house here. Josh got go on on it. >> Thank you
very much, thanks, Lisa. Thanks for inviting us over. We will leave within a
half-hour. Don't worry. Thank you Joe for inviting us and Lisa, thanks very
much. It's great to be with all my colleagues and with Brian Fitzpatrick,
who's Co-Chair with me at the problem-solvers caucus. In times of great
distress at home or abroad, we have always done best when we've stood together
as one nation and with our allies, as Putin, forces continue with the brutal
invasion of the Ukraine, the United States must stand strong against Russian
dictator. So we're joining together today to cut off Putin's largest revenue
source, and its support America's own energy independence and security. And
we're joining forces with both across the aisle and as Lisa said, across both
chambers, to lead bipartisan bicameral legislation to ban Russian oil and
petroleum from being imported to the United States. And as we're announcing
today, and I'm here with Brian Fitzpatrick, who I've mentioned as co-chair the
problem-solvers caucus. We plan to bring not only leading the charge in the
house, but of course to bring it to the problem-solvers caucus for
consideration, we've already taken critical steps. The commander in chief has
responded quickly and aggressively into the conflict, rallying together with
our NATO and democratic allies, helping build an international coalition to
counter Russia, support Ukraine, and protect democratic values. We've shutdown
Putin access to assets in the United States and sanction Russia's major banks.
Important first steps. But to truly, to deter Putin, we need to do more. Just
today, my home state of New Jersey, where the Governor Phil Murphy, signed an
executive order requiring all state agencies to temporarily revoke any
contracts, permits, or licenses currently issued to companies controlled by
Russia or Belarus. This is the type of impactful action we need. But now
despite widespread condemnation of Russia's actions, the United States must do
more. And we have to continue to do more to import as well, more than 1/2
million barrels of oil each day that must stop immediately. By banning the
import of Russian oil here in the United States, we have the opportunity to
work with our allies to stabilize the energy market across the world,
safeguard our nation's energy security, and boost our own energy independence.
It's time to ban all imports of Russian oil. And the US and our allies have
already announced the initial release of 60 million barrels of oil from the
sprout. Obviously, we've got to do more. Now's the time to act together here,
at home with our allies abroad and banned imports of Russian oil. And we stand
strong. We're glad to hear positive feedback from the speaker on this effort.
This is a moment for people who love democracy at home and around the world to
unite. And that's why we must do as Democrats and Republicans here in the
greatest country in the world. And now I'm very honored to introduce my
Co-Chair of the problem solving caucus Brian Fitzpatrick. >> When it comes to
Ukraine, I think we all can agree that we have a collective similar feeling
and that is pit in the stomach. How is it possible that in the year 2022 we
could be witnessing what we're seeing on TV, things that we thought were
permanently relegated for the history books. My last international assignment
as an FBI agent was in Ukraine. I live there. Those are my friends that are
under assault right now. And it's there where I will be flying tomorrow
afternoon to go to the Poland and Ukrainian border to be with some of them.
And this is one of the things we're going to be talking about. As my colleague
said, there should not be a single dime, not a single cent. A taxpayer dollars
funding Vladimir Putin is murder machine. And it's a very simple concept. It's
one that's overwhelmingly bipartisan, as is evidenced in here. Speaker Pelosi
today said she supports the concept of completely banning imports of Russian
oil into the United States. That should not be difficult. I personally think
we're going to be going a lot further than this, but this is a very very good
first step. I want to compliment and thank my friends and colleagues, many of
whom we've worked together on some other very monumental piece of legislation.
This is really important to send a signal not only to do what's right and not
contribute a dime to Russia's economy, particularly when it comes to oil. To
send a message around the world that every single country should be doing
this, we have to tighten the noose around Russia's economy. We want to
continue to deter him from killing innocent, amazing, courageous Ukrainian
citizens, many of whom close to half were born after 1991. After they won
their independence, they knew little of and want nothing of Kremlin rule. And
we got to do everything we can, as my colleagues said in our toolbox, to make
sure that we stand behind them unequivocal and unapologetically. Senator
Tester for Montana. >> Thank you. It has been said already, Putin is
weaponized energy. I don't believe this country should be importing any thing
from Russia, but the fact that matter is as energy is something that Putin
depends upon for his finances. And he's depending on it to fight this war in
Ukraine. We see the tragedy that's happening in Ukraine for the last week. It
is the very least the we can do to stop any energy imports into this country.
I think it will have a dramatic effect and it will send even a bigger message
that the United States is in this with the Ukrainians for the long haul. I
just want to thank Joe and Lisa for bringing us together. We almost got the
band back together, guys. >> I know that's good. >> Thank you very much. If I
could see, I'd tell you who's next. >> John. >> Will talk for a minute, it
says. >> [inaudible 00:25:41] >> So Nancy Pelosi is with us, which made me
wonder of what am I doing? She's right. Yeah. Listen. You've done something
Putin nobody else could do. I want to thank Joe and the whole squad up here
for getting us behind an idea that's long overdue, but not too late. This will
be a significant blow to Putin's war machine. A crippling blow would be if
other countries would follow our lead. Here's my call. Listen to what we're
doing here in America and follow us to the extent you can. Lisa mentioned
suing for peace. Putin is never going to sue for peace. How does this end?
Eventually, the Russian people will have to decide to get rid of this guy. As
long as he's your leader, you're going nowhere. The world has turned a blind
eye and a deaf ear to war crimes and murder and thievery for the past 20
years. The Ukrainian people have broken that cycle. None of us are going to
treat this like Syria, which was a disaster, where we beat our chest and
forget about it. This is about to become an insurgency. Cities will fall, but
the Ukrainian people will not fall. This is an emergency declaration, it's a
really smart idea, Joe. This is a national emergency. We're going to suspend
Russian imports of all during the emergency. Well, I'm here to tell you, this
is going to go for a very long time. This won't be weeks, this could be years.
What I hope will happen over time, is that the world will follow our lead
here. If you hit him in the energy, the oil, gas sector of his economy, he
will fail. Never in the history of warfare has a bad guy been so exposed as
Putin is today. The revenue from oil and gas keeps them afloat. If we can
isolate the oil and gas sector, produce more here at home, that will do more
to end this war than any single thing I can think of. >> John first [inaudible
00:27:52]. >> Well, I'd like you to echo the gratitude of everybody to getting
the band back together again. Lisa. In 2021, we imported about 700,000 barrels
of Russian petroleum products per day. At present prices, that's pretty close
to $75 million a day that's going to fund their war machine. I think the US,
as the leader of the free world , I'm old enough Joe. Remember when we used to
talk about America leading the free world? One thing you can certainly say
about Joe Biden is he has unified the free world in a way that has never
happened before. NATO has never been so unified. Switzerland is now on board
with this. I think if more people figure out that they can follow America's
lead in banning the import of Russian oil in response to Putin's heinous
actions, it will make a significant difference and will accelerate the end of
this tragedy. My beef, and I feel I have a very good friend in Denver who did
two years in the Peace Corps in Ukraine. He'd been talking to me for the last
several months. The beef is not with the Russian people. It's with Putin. I
think the sooner the Russian people recognize that the world is against their
leader, that opportunity will come and there will be a change. But until then,
we've got to do everything we can in this country to make sure that we cut off
those imports. It's going to accelerate the transition. We're already seeing
from into sun driven energy and wind driven energy, water driven energy. That
acceleration is only going to help make us more independent from these types
of situations. Anyway, whose? >> Rob. >> It's night time in Ukraine. We will
again see horrific images on our TV screens of artillery fire, missiles being
fired into cities like Kyiv. They're hitting apartment buildings, they're
hitting hospitals, they're hitting daycare centers. Yesterday they even
damaged the Holocaust Memorial in Kyiv. This is indiscriminate, showing that
he's killing thousands of civilians. The numbers we have don't tell the whole
story because there are people who are under Robert who we can't count. There
are children, babies who were in NICU units that have had to leave the
hospitals who we haven't counted. This is an atrocity, and the United States
of America has an opportunity here, not just to lead the free world, but to
help Ukraine more. One way we can help the people of Ukraine more is to
tighten the news on the Putin economy. Oil and gas, fossil fuels is number
one. John McCain's famous saying, "This is a country of thugs, runs a big gas
station." Without those oil and gas revenues, the Russian economy definitely
craters. Between 50 and 70 million bucks a day going to Russia, why does that
make sense? Of course, I support this effort and I thank Joe and Lisa and
Fitz, the house members, Josh, who are with us today, because this is
important that we be bipartisan, bicameral and actually get something done
here. It's not just about talking, this is about a crisis. People are dying. I
was in Ukraine for the last congressional delegation [inaudible 00:31:41] and
I led. It was in January. The people we met with are now in bunkers fearing
for their lives. I've been to the line of contact. The soldiers I met are now
under fire. Some of them are dead. These are the people who had turned to us.
I was in Cleveland on Sunday night at a rally, a 1,000 people showed up in
Cleveland, Ohio. Ukrainians, but also Latvians and Lithuanians and Pols and
people from all over Eastern and Central Europe supporting this effort,
knowing that they'd been under the thumb of Russia before and the Soviet Union
before, and they're not going to put up with it. They're going to fight. But
instead of having them fight to the death, we need to help them be able to
fight and survive and to be able to win. I thank you guys for what you're
doing here. I'm strongly in support of it. We need to do much more. By the
way, Russia has most favored nation trading status with us. They're in the
World Trade Organization. We give them a preferential trade status with the
United States of America. That needs to end. We need to ask every country
around the world to also end that status. That would actually increase the
tariff on oil by the way, among other things. But it's critical that we not
just go on as if this is business as usual. Again, tonight as these bombs are
raining down on these cities and killing civilians, we need at the very least
to do everything we can to tighten that news, to ensure that the people of
Russia at some point say, Enough. Yet. We're not going to do this. We're not
going to be killing our innocent neighbors and suffering these economic
consequences. We're going to do something about the corrupt government in
Moscow. Thank you guys for doing this. >> I'm going to read something. Just
came out. The White House deputy press secretary, which I hope spoke on their
own behalf and nobody else's behalf. Basically said we don't have a strategic
interest in reducing the global supply of energy that would raise prices, the
gas pump for Americans. They're so wrong. But if there is an inconvenience,
because we have to basically change the corporate model of where you get the
products to do what they want to do and how they blend, there's other places
in the world other than Putin. When you talk about an inconvenience, can you
imagine if you lived in Ukraine right now? I think it's a little bit more.
This is life or death. If they can't show that we can make some sacrifices in
order to support them and stop the aggressions of this horrible dictator.
These are innocent people. What Rob just told you, we're seeing kids were
getting basically cancer treatment and unbelievable, having a hard time
getting a sterile place to do it. All of us. I mean, my goodness for the sake
of humankind, this is not right, and for us to think it might be an
inconvenience. it's is going to inconvenience people. It's going to base it,
but we don't have an interest in reducing. First of all, we don't have to
reduce. We can basically produce whatever needs to be produced. We just do our
job. Get back to 12 million barrels a day. Doesn't displace anybody or
anything. I don't know what we're waiting on, what there was such a big
problem. We have more natural gas, and almost any place in the world next to
the Middle East. But yet, if that's basically the desire that this press
secretary, I'm not even saying this administration, but this press secretary
or a deputy press secretary, whoever it may be, put out a statement like this
is irresponsible. >> Let me just add on that because I think it needs to be
reinforced that our legislation is not a global ban on Russian oil and gas. It
is just domestic. There's been press reports out there that if there were a
global ban, it would have a definite increase in the price. We would see it
here in this country as they would in Europe in another places. This is
domestic for purposes of this emergency. I think you've got a deputy press
secretary that perhaps has not looked at our actual ban on domestic import
from Russia. >> I spoke, I'll just give you a few of the current corporations
that we spoke to and making sure that they understood Conoco, Exon, Chevron,
Shell, Occidental, and Bolero. Those are the biggest of the biggest that's
basically support the American market. They've all committed to do everything
humanly possible to adjust wherever they're sourcing may be. But if committed
that basically they will absolutely pull away from Russian products. That's a
strong statement from them, and do it by minimizing if not effecting the
markets here because they have to make some logistic changes. We did not reach
back anything that might be coming this direction. We did not reach back and
stop it. We said anything in the pipeline, but what we will do is stop
anything for the purchases. That's what we're trying to do. With that we'll
take questions to anybody up here. >> [inaudible 00:37:01] Based on what she
just read from the White House [inaudible 00:37:02] where you had bi-partisan
center is willing to put scientists and the blade. Definitely that was
undercutting White House. Now you're telling us you have a bipartisan piece of
legislation here to cut off this importation of oil from Russia. They seem to
be undercutting that. Is this is the second value of that [inaudible 00:37:20]
>> Well, I'm hoping that they did not understand this as Senator McCarthy just
pointed out to you, they haven't seen or have them read our legislation. We
just dropped the bill. The bill just dropped now, I'm sure that they are aware
of it by now they have at the White House has it they have it by now. Let's
see what they do. >> [inaudible 00:37:36] >> Well, let me just sanction. I'm
not going to say that the strategy that was used there, I'm sure Linda can
speak to it because he's involved on our day to day basis. But as I understand
that the sanctions, the reason they were trying to put basically the coalition
of NATO. In order to do that, they didn't want to basically get ahead of them.
They weren't everybody on board. Once Russia did what they did an invasion of
Ukraine, then they were able to move. That's what I'm understanding. This is
different than that. This is absolutely different. >> Think about what has
happened since the deal fell apart, where there was supposedly a bipartisan
deal in the White House comes in and says, No, that was 10 days, 12 days ago.
Think about how the world has changed. You have got a unified group of allies
and the world has changed with sanctions out there. >> Chad Tier's specific
question. I mean, I was one of the negotiators with which you immigration and
a couple others on our side. This is entirely different. I just read the quote
from Nancy Pelosi. I'm all for it, Bennett. I mean, our issue was we didn't
have that strong bipartisan support for preinvasion sanctions, which is what
we wanted to do, would've made a difference. Nobody can tell you that, but it
might have. Now we already are. We've got to go forward and I think be more
unified and act more quickly and that's why I love against, I said earlier the
fact that we've got the House and the Senate, Republican and Democrat owned
all of this. It's a different situation. It has much higher chance of success.
>> You had your hand up, I'll go there and then Garrett and jump right around.
>> Share of responsibility. Do Democrats had in this gas prices have been high
since before Russia invaded Ukraine and a lot of policies if President Biden
put in place got us there. In this point, at what point would you push the
president to reverse some of these policies, whether it's killing the Keystone
Pipeline, be any drilling on federal lands, among other things. >> Shown like
you're on my stuff. We've been pursuing this. We really have, we have to have
an all in energy policy. There's no doubt about it. I think what we see
happening and what has happened in the last two weeks is something beyond our
belief. We didn't think of this will go to this event. We thought it basically
the might of the military would, everyone would have back down. We've seen the
strength of freedom, a peace loving people with free. We've seen that
strength. We're not seeing that type of backbone for a long time in the world.
It's people willing to stand up and puts their life online. Can you imagine
putting your wife and your babies on a train for safety and you're going back
in, or people coming over or Ukrainians that basically are going over there to
fight now, I don't think anyone ever thought that would happen. So we have to
rethink I would hope to administration would we're going to be talking to him
and I think very civil tone that basically this is a time for America to stand
tall. They depend on us, the world depends on us. Energy has been weaponized.
We have the ability to basically counter that weapon. We really do. That's
what we're asking for. If we're asking and we'd never seen I've never seen
NATO. I never thought that honesty that Germany would actually pony up to the
table for 2 percent of their GDP for defense. I've never seen Switzerland,
ever thought Switzerland would get off the bench. God love them. They're just
a peace loving people. But enough is enough. If you've moved Switzerland off
the bench, then we better get off the bench. I can tell you that and we're
going to be moving everything that we had a hearing today as you know, on the
firm, some decisions they're making, which we think is very detrimental to us,
and our ability to produce energy independence that we need. >> If the
president were to come before the American public tomorrow and give a speech
saying that we in this country need to embrace the role that we can take on as
a full energy producer. I think that that would do as much to send the signal
to help calm the markets, to help address what we're seeing with the daily
prices of fuel at the pump. But right now, the signal from this administration
is we're going to keep ours in the ground and we're going to count on it from
somewhere else. Now we're realizing we've been counting on Russia to help us
with that. That signal needs to be uncrossed. >> I can't help myself. >> No.
>> It's just too much here. >> No. Your question is the right one. My view,
I'm not speaking for everybody here is this is about replacing Russian oil
with American and North American resources that this administration has
stifled, let's face it. And its Executive Order on public lands. It's the
decision to stop the keystone. Keystone by the way is 820,000 barrels per day.
So more than all the Russian oil that has been coming in per day even at its
high at about 700,000. So there's replacement right there. Now, that decision
has been made. We are who we are. But they're things Sanitor Manchin is
absolutely right we can do to just get our production back up to where it was
finally. I've gotten a little heat on this issue from home, some folks saying
that "Gosh, that's bad for the environment. Because if you cut off Russian oil
then we've got to produce more here." Are you kidding? Who thinks that the
Russian oil is being produced in a more environmentally sound way than
American oil? >> [inaudible 00:43:03]. >> They've got methane flares all over
the country. You can go online and look at the map of the world and you see
the methane coming out. It's much dirtier in terms of how they produce it.
Then they got to send it here by ship, which creates a lot of CO_2. So the
notion that somehow this is going to be bad for the environment if we cut off
Russian oil it's just the opposite. It will lead to fewer emissions and also
has obvious national security implications right now during this crisis. >>
I'll give you an example. We have one pipeline, Mountain Valley Pipeline. If
that pipeline is 95% built. They could finish it within two to six months.
That pipeline will deliver 2 billion BCF, billion cubic feet a day. Two
billion cubic feet to go into the market, to go to basically LNGs, to go to
Cove Point to be sent overseas. Immediately we could do that. So we have the
ability to do what needs to be done. Yes. >> My question is actually for
Sanitor Murkowski because you were starting to address this in a point you
made earlier. This legislation wouldn't take any oil out of the global market.
It's just a ban on US imports of Russian oil but because of it, energy markets
are global. Somebody will buy all of those barrels of Russian oil via India or
China or someone else. So I guess in terms of punishing Putin how does this do
anything to do that other than keep our hands clean of buying his oil? >>
First of all, there is a moral obligation here. I don't want US dollars to be
funding this carnage in Ukraine led by Putin. All of us should agree that that
is not where we go. It is a global supply out there, but it is not a supply
without limitation. And we're going to be pushing to do everything that we can
to get production up in this country despite some of the policies that have
been put in place that have held us back. Others will likely be trying to do
the same. But you can't turn this on a dime. And so in the meantime, you're
going to see around the globe pinch points and what we all need to be doing is
making sure that that pinch point is felt most forcefully in Russia, directly
to Putin's accounts. So what we can do here in this country because we are
poised to produce more if just given the right signal, we can help ameliorate
the pressure on us, we can help ameliorate the pressure on our allies. But not
if we just continue to say, well, we're just going to keep doing what we've
been doing and effectively reward Putin. That's wrong. >> Let me jump in and
say this. First of all, the market's shrinking. There's very few people that
are buying Russian products. They're moving away every day. So you mentioned
two. >> Two billion people in India and China. >> Hold on. That's fine. But
that's a smaller market with less cost. He's going to be punished because he
will not get the price he's getting. He's now playing the best price in the
market. His market has shrunk dramatically. So if you only had one game in
town, I know I can only sell to you you'd be a little bit tougher to deal
with. I know that. But with that, we're sending a very strong signal, and
we're saying a strong signal to our allies too. We're not disrupting the world
distribution. >> Is that the missing piece of it? Is this more effective if 20
other countries stepped forward and said they're doing the same? >> Countries
are stepping forward everywhere humanly possible they need backfield. We
should be able to have that backfill and that's what we're working on. And
there shouldn't be ain't the LNG, we're going from 8% up to 13%, getting there
quickly. We can go further than that if we do. We have oceans of energy. We
have to use that. It's a political weapon today, not a political weapon that's
more a weapon period. A weapon of war is what he's using it for and basically
no extreme. >> It is more effective if you have others that jump in. But not
everybody else has the ability to do the backfield. And so they're looking to
us and saying, what the ****? >> Can't you help us? >> What are you sitting on
your hands? And you're asking us to keep taking it from Russia. No. They're
looking to us and saying you've got the ability to do more to help all of us.
So do it. It's not just us saying this. >> No string too is charged. Ready to
go? By the will of the Germans and the level Europeans, they've shut it down.
That shows the resolve they have. Someone is got to help them as quickly as we
possibly can. Let me say I know we could go on all day long. Hold on one
second. I want to say. One second, I want Brian, basically, we've all heard
and our hearts go out and I just want everyone to take a moment of thinking
about Ukrainian people. As we said here today and the safety we have and the
defense of our country and think about these human beings they're basically
thrust in a war zone towards their children they're at risk, they're at risk,
their way of life is at risk, their homes are gone. Think about that. In fact,
it changed all in one week for you and me. And we had someone out there who
has always been our friend say, man, I wish my friend come help me. I really
wish my friend would come. That's really where they're at. But I want you
basically in his own native language. >> Now it's so many language. It's just
before ten o'clock in Kyiv, night has fallen. President Zelenskyy, Mayor
Klitschko, Members of the rod, members of the press are all wearing Kevlar if
they can find it. Carrying arms if they have them available. Ukraine's
independence is 30 years old. They're very young country and we were a very
young democracy at one point. Our democracy, which we all know is 20 or 45
years old and we're the oldest democracy on the planet. And Ukraine and the
world are now seeing how hard it is to remain free in an era where evil is
rampant across the globe. And for all of our friends in Ukraine, [inaudible
00:49:02] as I say, the rallying cry, glory be to Ukraine. Thanks. >> Very
good. That's the right way to end it. Thank you. >> Are you confident that you
can get [inaudible 00:49:15] >> I've never seen anything more bipartisan
support them I've seen for this in a bicameral way. >> That quickly. >> That
quickly. We did it one day. And basically, when you have Nancy Pelosi saying
this is something that you should support. One minute, hold on. >> [inaudible
00:49:32] is reducing our reliance on foreign oil. Does that add any urgency
in your review to deal with your party on reconciliation that contains a lot
of the clean energy tax price that you said you've been in favor of. >> No,
we're willing to talk about anything. The bottom line is the production of
fossil fuels right now. Wind and solar is not going to put natural gas over
there and that's where we have to be realistical what we're trying to do here.
The bottom line is we can go from 11 million to 12 million overnight if
there's less. We can build a pipeline in two to six months if it's 2 billion
BCF. We can do that. But the people are fighting to take me to court all the
time and basically, administration needs to step up and help us on that. And
absolutely, we have to go forward with our climate solutions. I'm all for
that. I've always been off for that but it's not in policy. I'm not going to
throw one out the window for the other. You need a horsepower to run a
country, you need a horsepower to be the superpower of the world, and be able
to have your allies depend on you. And we haven't been there for that. We've
throttled back and never throttled backup. That's all I'm saying. And I'll
just say this from my own. I would gladly. If ever is a poll being taken, he
said Joe would you pay $0.10 more a gallon to support the people of Ukraine
and stop basically the support of Russia, I would gladly pay $0.10 more a
gallon. >> Sir Manchin, do you think people will feel that way after they've
been told for months by everybody in Congress, inflation is attack it's a
heavy burden. >> Inflation is attack, this is war. >> Will people believe
that? >> You've got to ask them, take a poll. >> Okay. >> I'm going to grab
these. >> Let's pick the list real quick. Thank you. >> Cassidy wasn't here.
>> Okay. >> Please take a look at that. >> Awesome. Thank you. >> Cassidy
didn't jump. >> Great. Thanks. >> Can you guys help grab all the papers,
please? Can you grab the binder? >> Binder or this? >> Sorry, that. >> And
the? >> The podium, I believe stays here. >> Okay. >> Where did he put it? >>
Thank you, guys. Making sure we didn't leave a mess