mr. markey offered that legislation on the house floor. not a single one of our colleagues from the other side voted for it. all the people on our side did. it was off the floor again this week and again not what i want her colleagues voted for it and everyone that people on the side of the aisle voted for it. last year and the year before -- this is not a new idea. this is something he's repeatedly brought to the floor. so if we think we'll understand the problem, if we know the history and if we all say we ought to fix it, it always takes these can make things happen. i hear a lot of words. so ms. alexander, we can offer this over and over, but until her friends on the republican side of the aisle want to put these behind their words, we will get much action. what you say to convince my republican colleagues over here were blocking this change, what would you say they have in mind when mr. markey reaches the floor? >> as they say, our position is to just fix it. the markey bill does fix it comes up that's one way to do it. come up with a

mr. markey and mr. harper. mr. matheson. >> thank you, mr. chairman, for holding this hearing today. i want to expend a thank que -- i'm sorry, is mike from on? hello? one to extend a think you to my governor, governor herbert, for providing the experience for performing the health care system. as many of the committee probably know, ut is one of the states that took the initiative before the enactment of health care reform of the federal level to tackle reforms to the health care system at the state level. one of the particular was this a bonnet of the health insurance exchange in utah. our state's experience was certainly testified to the flexibility states need in order to implement this law. i appreciate governor herbert's pettis fusion and want to extend a warm welcome to our committee and look forward to his testimony. i yield back. >> it's my pleasure to welcome governor deval patrick from the great state here to washington. in 2006, massachusetts trailblazed the path for health care reform we see here on capitol hill just a few years later. our outstanding governor has been t

mr. markey. >> thank you. mr. patrick, mr. barbour said he accepted a deal that they receive 50% of the medicare money they receive today. he could live with that deal. >> i'll take 50%. >> what would be the impact in massachusetts if there was a 50% cut in the medicare funding that went to the state in terms of the impact on the health care of our residents? >> well, i think that would jeopardize universal care. it's -- i mean that would be profound for us. now we are working very hard just to repeat myself, to get system costs down because the cost of care down because that's important not just for medicaid were but across the economy. and as we gain those savings, that's good for the federal government just as it's good for the small businesses that are in the private market. but no, that's not -- we're not looking for that. >> no, governor barbour if i may, i said we would take 50% of the increase. that we would cut our total fmap in half. just when the increase game, we'd take only half as much. i'm glad you said that. i

mr. markey offered that legislatioon the house floor. not a singlone of our colleagues from the other side voted for it. all the people on our side did. it as off the floor again this week and again not what i want her colleagues voted for it and everyone that people on the side of the aisle voted for it. last year and the year before -- this is not a new idea. this is something he's repeatedly brought to the floor. so if we think we'll understand the problem, if we know the history and if we all say we ought to fix it, it always takes these can make things happen. i hear a lot of words. so ms. alexander, we can offer this over and over, but until her friends on the republican side of the aisle want to put these behindheir words, we will get much action. what you say to convince my republican colleagues over here were blocking this change, what would you say they have in mind when mr. markey reaches the flo? >> as they say, our position is to just fix it. the markey bill does fix it comes up that's one way to do it. come up with another

mr. markey. >> thank you, mr. chairman.my republican colleagues like to say we are not doing enough trailing in the united states. a lot of the numbers that have been tossed around by witnesses of fundamental point that i believe our country must comprehend. we have 2% of the world's proven oil reserves. we improve 11% and we consume 25% of the world's oil on a yearly basis. 60% of the reserves, 11% of the oils produce, 25% of the oil we can soon. now, i've put together a graphic to help us to take these numbers together and understand what they mean. this is the noblest tradition at the rate at which our country is producing its reserves and compares arab or an rates to of the other top 15 oil-producing countries in the world. what do we learn? no other nation on earth is matching the burn rate of the united states in terms of consuming their own reserves. we consume more than any other nation. we are burning through our savings, our reserves faster than any other country on the planet. as you can see down here, and iraq,

mr. markey. >> thank you, mr. chairman.my republican colleagues like to say we are not doing enough trailing in the united states. a lot of the numbers that have been tossed around by witnesses of fundamental point that i believe our country must comprehend. we have 2% of the world's proven oil reserves. we improve 11% and we consume 25% of the world's oil on a yearly basis. 60% of the reserves, 11% of the oils produce, 25% of the oil we can soon. now, i've put together a graphic to help us to take these numbers together and understand what they mean. this is the noblest tradition at the rate at which our country is producing its reserves and compares arab or an rates to of the other top 15 oil-producing countries in the world. what do we learn? no other nation on earth is matching the burn rate of the united states in terms of consuming their own reserves. we consume more than any other nation. we are burning through our savings, our reserves faster than any other country on the planet. as you can see down here, and iraq,

mr. markey. >> thank you, mr. chairman.my republican colleagues like to say we are not doing enough trailing in the united states. a lot of the numbers that have been tossed around by witnesses of fundamental point that i believe our country must comprehend. we have 2% of the world's proven oil reserves. we improve 11% and we consume 25% of the world's oil on a yearly basis. 60% of the reserves, 11% of the oils produce, 25% of the oil we can soon. now, i've put together a graphic to help us to take these numbers together and understand what they mean. this is the noblest tradition at the rate at which our country is producing its reserves and compares arab or an rates to of the other top 15 oil-producing countries in the world. what do we learn? no other nation on earth is matching the burn rate of the united states in terms of consuming their own reserves. we consume more than any other nation. we are burning through our savings, our reserves faster than any other country on the planet. as you can see down here, and iraq,

mr. markey offered that legislation on the house floor. not a single one of our colleagues from the other side voted for it. all the people on our side did. it was off the floor again this week and again not what i want her colleagues voted for it and everyone that people on the side of the aisle voted for it. last year and the year before -- this is not a new idea. this is something he's repeatedly brought to the floor. so if we think we'll understand the problem, if we know the history and if we all say we ought to fix it, it always takes these can make things happen. i hear a lot of words. so ms. alexander, we can offer this over and over, but until her friends on the republican side of the aisle want to put these behind their words, we will get much action. what you say to convince my republican colleagues over here were blocking this change, what would you say they have in mind when mr. markey reaches the floor? >> as they say, our position is to just fix it. the markey bill does fix it comes up that's one way to do it. come up with a

mr. markey said early on.we have ridden this horse and we have ridden this horse and the legs are giving out. i yield back my time. thank you. >> the gentleman yields back his time. i will recognize mr. landry to close. >> i think we have a few more horses in oil. we have got natural gas. i think this horse is a pretty solid horse. we should put her in the gate. we have got a lot of coal. put colin the gate and nuclear certainly does a good job here in this country if we could get back to building refineries and i'm confused to know i know it is hard to say right and there is a lot of confusion on the other side of the aisle, because they talk about opec having a stranglehold and another member comes up and says that exxon has a stranglehold. that is kind of confusing. as to who exact we has the stranglehold. anyway, how long do you think that this trade of speculation has been around in this world? come on, you are all smarter than me. someone knows. do you want to guess? 100 years? 200 years? century so spec

mr. markey, certainly, he has a loud enough voice to reach your ears, i would think. that there's billions of dollars in revenue that is being foregone that should be going to the taxpayers because of what can only be described, well, what has been described as a screw-up on the part of the professionals in this area when they put together the contract. you know, we try to delve into it, they say, well, it was one person's responsibility, that person says, well, it was their responsibility. the fact is that this is a situation where the contract that was made when oil was very cheap was supposed to yield appropriate revenues to the federal government when the price of oil went up. the price of oil went up, and they tried to collect, and kerr-mcgee said, well, wait a minute, the staff messed up, and we're not legally obligated to pay this money which amounts to billions of dollars, and the court upheld them saying that the staff messed up. so what happened? >> well, actually -- >> i mean, it's a serious issue, isn't it? >> very serious. >> yep. billions of dollars of t

mr. markey: i thank the gentlelady. in an era when edwardian drama is the only way to characterize the way in which cable news deals with the public affairs of our country, there is an owe kaycies of real news that begins with "morning edition" goes right through the day to "all things considered" which focuses on that most unusual of all subjects, hard news. that the american people can use to make judgments about the affairs of our country and the affairs of the world. it's an owe kaycies of information -- owe waycies -- oasis of information. "on point," other programs that raise the cultural level but serve as a place where people, 170 million americans, can go to get real information. now, what is this debate all about? it's really about an ancient an mossity which the republican -- animosity which the republican party has had to the very creation of n.p.r., through newt gingrich, through the early years of the 21st century, right up to today, where it's on a list of grievances which they have about this ability of

mr. markey for his leadership. we are here today as people who are committed to hard-working americans who are struggling with these prices. as the price of oil cert -- source, so does the need to help consumers -- as the price of oil so does the need to help consumers. bis is rippling throughout our economy. we need to do something about this now. my constituents know about this. this is why this legislation makes a lot of sense. an immediate resolution of this problem is not something that will happen a decade from now when you oil reserves are tapped into. this is swapping oil from the strategic petroleum reserves for refined products, putting in the crude and taking out the refined makes sense. it will help drive down prices now. the "drill baby drill" mantra will not provide long-term relief from oil prices. we are home to more than half a million producing oil wells. it is about 60% of oil be producing oil wells in the world. we have more oil wells than the middle east. we get 14 times as many as opec does. w

mr. markey: this bill would wipe "car talk" off the road. it would wipe "lake will be gone" off the map. it would close down "marketplace" and tell "wait, wait, don't tell me" to take a hike. g.o.p. used to stand for grand old party. these funds used by national public radio or its competitors . as a result, this bill would silence public radio stations across the country, depriving listeners of the news and information they depend on. public radio stations can just raise the money from private donors, some say. not likely. local public radio stations need signature n.p.r. programs like "morning edition" and "all things considered" to attract audiences. by drawing listeners to local stations, these programs and others generate strong financial support from the local listening area. without these prominent n.p.r. programs, local stations won't be able to attract the audience and sufficient fundraising base to keep running. every month more than 170 million americans turn to their local public broadcasting stations for free, high-quality progr

mr. markey. >> thank you, mr. chairman. you have many roles, one of them is banker in chief for the 80 industry. you provide loan guarantees for nuclear power plant -- becker in chief for the energy -- banker in chief or the energy industry. do you think this will make it easier for investors to make investments in energy? >> i cannot predict what wall street will do. the events in japan will cause everyone to look back had their nuclear plants. that is a good thing in the sense that you take this opportunity to look back and see what you are doing and are you doing everything possible to maximize safety. >> along those lines, are you going to reassess, as the banker in chief, what you charge for the loan guarantees given the events in japan? >> the risk premium is a credit subsidy issue. >> are you going to examine it in light of what happened in japan? so you are going to re- examining? >> the omb is the part of the government responsible for that credit rating. >> should omb examine the risk premium? >> they will include

mr. markey are saying that you folks are out there talking this -- touting this. the chairman is saying he would rather have nothing. is that accurate? >> that is absolutely accurate. the entire debate in the past two years has revolved around difficult questions. that is whether one should regulate to deal with hypothetical problems. that is what we're dealing with -- hypothetical. it is the hardest thing for policymakers to decide. if you move into the space, it is hard to draw lines. this worries us the most about moving into this area. it was stated earlier that different members of the egos. might be regulated in a different fashion. -- of the egos fear -- ecosphere might be regulated in a different fashion. the government does not do this very well. >> dr. kovacs, in your opening statement, you talk about the transfer of wealth from curious to application providers is accurate. you say it does not grasp the problem for both parties. you say it provides those who ride the network with a viable financial weapon to use against broadbent access -- broadband axis

mr. markey: i thank the gentlelady. in an era when edwardian drama is the only way to characterize the way in which cable news deals with the public affairs of our country, there is an owe kaycies of real news that begins with "morning edition" goes right through the day to "all things considered" which focuses on that most unusual of all subjects, hard news. that the american people can use to make judgments about the affairs of our country and the affairs of the world. it's an owe kaycies of information -- owe waycies -- oasis of information. "on point," other programs that raise the cultural level but serve as a place where people, 170 million americans, can go to get real information. now, what is this debate all about? it's really about an ancient an mossity which the republican -- animosity which the republican party has had to the very creation of n.p.r., through newt gingrich, through the early years of the 21st century, right up to today, where it's on a list of grievances which they have about this ability of

mr. markey, and mr. harper. mr. matteson? >> thank you, chairman, for holding the hearing today. i want to extent the today. i'm sorry, is the microphone on? hello. i want to extent a thank you to my governor, governor herbert, for reforming the health care system. as many on the committee, utah is one the few states that took the enactment before to tackle reforms to our health care system at the state level. one in particular with the establishment of a health insurance exchange in utah. our state's experience testifies that the flexibility that states needs. i appreciate governor herbert's participation, i want to extent a warm welcome, i yield back. >> thank you, it's my pleasure to welcome governor deval patrick here to washington. in 2006, massachusetts trail blazed the path for the health care reform we see here on capitol hill just a few year's year. our outstanding governor has been the driving force behind successful implementation of the massachusetts law. in november of 2010, he was overwhelmingly reelected to a second term. under his watch and astounding 98% of massa

mr. markey: i thank the gentlelady. in an era when edwardian drama is the only way to characterize the way in which cable news deals with the public affairs of our country, there is an owe kaycies of real news that begins with "morning edition" goes right through the day to "all things considered" which focuses on that most unusual of all subjects, hard news. that the american people can use to make judgments about the affairs of our country and the affairs of the world. it's an owe kaycies of information -- owe waycies -- oasis of information. "on point," other programs that raise the cultural level but serve as a place where people, 170 million americans, can go to get real information. now, what is this debate all about? it's really about an ancient an mossity which the republican -- animosity which the republican party has had to the very creation of n.p.r., through newt gingrich, through the early years of the 21st century, right up to today, where it's on a list of grievances which they have about this ability of

mr. markey said early on.we have ridden this horse and we have ridden this horse and the legs are giving out. i yield back my time. thank you. >> the gentleman yields back his time. i will recognize mr. landry to close. >> i think we have a few more horses in oil. we have got natural gas. i think this horse is a pretty solid horse. we should put her in the gate. we have got a lot of coal. put colin the gate and nuclear certainly does a good job here in this country if we could get back to building refineries and i'm confused to know i know it is hard to say right and there is a lot of confusion on the other side of the aisle, because they talk about opec having a stranglehold and another member comes up and says that exxon has a stranglehold. that is kind of confusing. as to who exact we has the stranglehold. anyway, how long do you think that this trade of speculation has been around in this world? come on, you are all smarter than me. someone knows. do you want to guess? 100 years? 200 years? century so spec

mr. markey certainly he has enough voice to reach our years, i would think this billions of dollars in revenue that is being forgone should be going to the taxpayers because of what can only be described -- what has been described as a screw up on the part of the professionals in this area when they put together the contract. we try to delve into it. they say it was one person's responsibility, it was their responsibility. the fact is this is a situation where the contract made when oil was very cheap was supposed to yield appropriate revenue to the federal government when the price of oil went up the price went up and they tried to collect and said wait a minute, the staff messed up and we are not legally obligated to pay this money which amounts to billions of dollars and the court upheld them saying the staff messed up. so what happened? it's a serious issue, isn't it? >> as of january 31st, its 7.2 billion what we estimate to be a foregone of royalties, but it's important to note the supreme court didn't hear that case, didn't accept that case and was determined that the law itself actuall

mr. markey: i thank the gentlelady. in an era when edwardian drama is the only way to characterize the way in which cable news deals with the public affairs of our country, there is an owe kaycies of real news that begins with "morning edition" goes right through the day to "all things considered" which focuses on that most unusual of all subjects, hard news. that the american people can use to make judgments about the affairs of our country and the affairs of the world. it's an owe kaycies of information -- owe waycies -- oasis of information. "on point," other programs that raise the cultural level but serve as a place where people, 170 million americans, can go to get real information. now, what is this debate all about? it's really about an ancient an mossity which the republican -- animosity which the republican party has had to the very creation of n.p.r., through newt gingrich, through the early years of the 21st century, right up to today, where it's on a list of grievances which they have about this ability of

mr. markey: i thank the gentlelady. in an era when edwardian drama is the only way to characterize the way in which cable news deals with the public affairs of our country, there is an owe kaycies of real news that begins with "morning edition" goes right through the day to "all things considered" which focuses on that most unusual of all subjects, hard news. that the american people can use to make judgments about the affairs of ourcountry and the affairs of the world. it's an owe kaycies of information -- owe waycies -- oasis of information. "on point," other programs that raise the cultur level but serve as a place where people, 170 million americans, can go to get real information. now, what is this debate all about? it's really about an ancient an mossity which the republican- animosity which the republican party has had to the very creation of n.p.r., through newt gingrich, through the early years of the 21st century, right up to today, where it's on a list of grievances which they have about this ability of n.p.r

mr. markey certainly, he has aloud enough voice to reach your ears i think that the billions of dollars in revenue that is being foregone that should be going to the taxpayers because of what can only be described -- well, what has been described as a screw-up on the part of the professionals in this area when they put together the contract. we tried to delve into it. they say well, it was one person's responsibility. that person said it was their responsibility. the fact is that this is a situation where the contract that was made when the oil was very cheap was supposed to yield appropriate revenues to the federal government when the price of oil went up the price of oil went up, and they tried to collect and kerr-mcgee said wait a minute, the staff messed up, and we are not legally obligated to pay this money, which amounts to billions of dollars and the court upheld them saying that the staff messed up. so, what happened? >> well actually. >> it is a serious issue. >> it is a serious issue and actually of january 31 of its 7.2 billion what we estimated to be a forgone royalties but it