Re: Is it the oil?

Description: We need to break our dependence on OPEC and foreign oil, Specter says.

Transcript: Well I believe our dependency on OPEC oil is a major problem. We have legislation pending now in the Senate. I introduced, along with Senator Cole, a provision to take away the antitrust exemption, which OPEC, Saudi Arabia, Venezuela and the other OPEC nations have. They sit down in a room, reduce supply and the prices go up. We need to develop alternative sources of energy and we’re doing it now with ethanol, renewables. An energy bill passed the Senate, which is a step in that direction.

Recorded on: 7/4/07