River Bend Times

Senator Grassley expressed his disappointment at the Budget Committee hearing on Big Oil, stating, "I want to start by airing some disappointments I have regarding the process of this hearing and underlying documents." Grassley criticized the majority for their lack of transparency in working with House Democrats on a report, noting, "The majority failed to inform the minority they were working with House Democrats on a report."

Grassley reiterated his belief that the Budget Committee should focus on fiscal matters, saying, "As I’ve said in the previous 15 hearings, the Budget Committee ought to focus on the budget – plain and simple." He highlighted the concerns of his constituents in Iowa regarding the nation's financial state, stating, "Iowans voiced their dismay at the state of our nation’s finances."

Regarding economic concerns, Grassley pointed out that inflation is rising above the Federal Reserve's target level, and the economy is underperforming. He warned about the potential consequences of mounting national debt, emphasizing that interest on the debt could surpass defense spending this year.

Grassley criticized Democrats for prioritizing accusations against oil companies over budgetary issues, stating, "Democrats would rather accuse oil companies of conspiracy and raise gas prices than work with Republicans to write a budget." He also highlighted the importance of fossil fuels for national and global energy security, noting, "But, it’s also undeniable that fossil fuels are critical to our own energy security and the energy security of our allies."

In conclusion, Senator Grassley emphasized the need for a stable fossil fuel supply to counter authoritarian regimes globally, expressing his concerns about the committee's failure to address fiscal challenges.