Dem Senator Refers to ‘President Trump’ at Energy Forum
While answering questions about the ban on U.S. oil exports, Sen. Ed Markey (D-Mass.) twice referred to Republican presidential candidate Donald Trump as the nation’s next president.
Markey, a member of the Senate Committee on Commerce, Science, and Transportation, said during a discussion this morning on “The Impact of the Ban on Crude Oil Exports” hosted by National Journal that a majority of the public does not want Congress to lift the ban on U.S. oil exports.
“It runs contrary to common sense that we export and somehow or other the price here goes down, OK? It’s just Economics 101 turned on its head,” he said.
Markey was asked if Congress should allow oil exports but impose restrictions if consumers are harmed economically.
“I see, so then in 2018 I just assume that President Trump is just going to re-slap back on the restrictions and I can appreciate that approach, OK, and there may be many in this room that believe that would be a good place to propose the confidence that, in fact, there would be a re-imposition, but I’m not of that school of thought,” he said.
“I want myself to retain the authority – and, again, there is sufficient discretion that any president would have, including President Trump, to do oil swaps, to doing it with Mexico right now, to do certain limited things if it is necessary, but to do more than that I think would be a big mistake,” he added.
Markey also said oil and gas companies fear wind and solar technology.
“The oil industry wants to keep their tax breaks. The fossil fuel industry wants to keep their tax breaks and make sure that the other tax breaks die because ultimately those newer technologies, wind and solar, and that whole panoply of new issues is in fact what they fear the most, it’s the true competition in the marketplace,” he said.
John Hoeven (R-N.D.), a member of the Senate Energy and Natural Resources Committee, said that lifting the ban would benefit consumers.