"I mentioned that there have been some articles of late that just really kind of struck me. It is interesting because I thought they were pretty significant, but it seems they are relatively unnoticed here in Washington. According to Bloomberg, Russia has now supplanted Saudi Arabia to become the third largest supplier of crude oil in the United States. Canada is our No. 1. But there has been a series of circumstances. As our domestic production is falling, the Saudis have also reduced theirs, and it has been Venezuela. Venezuela is subject to sanctions. Their production has pretty much gone offline to the United States. Part of what we are seeing, though, is the refusal on the Federal Government's side to approve cross-border pipeline infrastructure. Canada, again, is our largest--we import more from Canada than anywhere else, and they have greater capacity to help us out here so that we don't have to take it from Russia. But, instead, we haven't been able to take more from Canada to fill in that gap because of pipeline capacity. So what happens is, we are sending more of our money to Russia at a time when we are not on very good terms with Russia. Need we say elections? Need we say SolarWinds? Need we say what we are seeing from Putin? This is what is happening: We are sending more of our dollars to Russia, and they are sending us more of the resources that we could produce here at home or perhaps at least import them from some friendlier nations."
January 1, 1970
https://en.wikiquote.org/wiki/Lisa_Murkowski