House Majority Leader Steny H. Hoyer (MD) spoke on the House Floor Wednesday in support of the Commodity Markets Transparency and Accountability Act.  The bill was blocked by House Republicans and did not pass. Below are Rep. Hoyer’s remarks as prepared for delivery:

“Mr. Speaker, this summer, the Democratic Majority in this body has produced bill after bill after bill to address record oil prices that have exploded on this Administration’s watch. 

“Every one of us here – both Democrats and Republicans – acknowledge that curbing our nation’s ‘addiction’ to foreign oil, which is how President Bush himself characterized this situation, requires short-term solutions and a long-term strategy.

“And thus, this body has considered:

“A bill to increase production of more biofuels here at home, and a second to incentivize the use of non-food commodities to meet that goal.

“A bill to hold OPEC accountable for price fixing.

“Bills to address retail and wholesale price gouging.

“A bill to crack down on energy market manipulation.

“A bill to increase supply by suspending shipments to the strategic petroleum reserve—and then another one to release oil from the reserve.

“A bill to expedite the production of 10.6 billion barrels of Alaskan oil, to keep all oil produced in Alaska in the United States, and to encourage diligent development of existing leases on federal lands.

“A bill to bring down commuter rail and bus fares.

“And, a bill to provide tax credits for renewable and alternative energy.

“None of these bills alone is a panacea.  But all of them – together – constitute a vital step forward to confronting our oil addiction.

“Many of these Democratic energy initiatives have passed the House.  Some have become law.

“However, others have been blocked by our colleagues on the other side of the aisle, who seem to have one answer and one answer only to America’s energy crisis: drill.

“It’s ironic, but Democrats generally agree with our Republican friends that increasing domestic production of our energy sources is critical.

“We must drill more, but we believe the oil