[inaudible conversations] larry metz remarks from treasury secretary jack lew. Hes expected to discuss Lessons Learned in these distinctions on international inc. To tease. Hes speaking at the Carnegie Endowment for International Peace did we expect this to start in just a moment life here he spent two. Cspan2. It is a great pleasure to welcome all of you here this morning. A special pleasure to welcome my friend and colleague, secretary of the treasury, jack lew. But the open above the market that promise to make the introductions very worried the distinguished career and all of you know what an enormous mark is made on our country. Im not even referring to the idiosyncratic signature on the dollar bill. A handful of people who have served including a series of important jobs that the department is in a common management and budget and not treasury. Only a person of extraordinary conviction, integrity and it is only secretariat jack lew can coop attended this year. During our time tog
If president obama gets his way, even as he continues to fight efforts by many of us to repeal outdated oil expert ban that would allow us here in this country to send oil to our allies. I think it does beg the question, and part of the discussion hopefully this newing will be with that source of revenue, that iran is anticipating to receive, what do we do with it . What will the intentions of these be . Libby did do good and build hospitals . Libby to direct yet additional sources of revenue to the terrorist organizations. In recent months we have seen a great deal of discussion about isis Oil Production and distribution, and Coalition Efforts to disrupt this source of revenue. Bottom line is that the Islamic State this oil is helping to finance terrorism. Significantly. I have long argued that Energy Security is central to National Security. Last year we released a series of reports. One was entitled Oil Production outages and strategic warnings. Another was iraq, through the lens of
Reserve. Its there for a reason. The word strategic is there in a very significant place. On that front, the proposal by some to permanently ban production in a small sliver of the nonwilderness, which could be the strategic reserve, is just wrong. Its dead wrong. As terrorists threaten oil supplies in the middle east and as state sponsors prepare to make billions of dollars from selling our oil to allies, some within congress are talking about intentionally and severely hurting American Energy production. This hearing this morning is about education. Members of the house and senate and the Administration Must understand the economic and the geopolitical context of the National Interests that we are considering. This committee has a unique perspective, given that over 90 of Iraqi Government revenues are due to oil exports, given nearly 09 of syrias Oil Production is offline and given that oil accounts for over 40 of isis monthly revenue, according to ihs. So you can expect me as chairm
Libya, yemen, and sudan has been knocked offline due to terrorism and violence. The indisputable fact we are dealing with is that north american barrels have largely displaced or largely replaced and disrupted production so far. In tandem with imaginations that opec, the Global Oil Supply is saturated, and may be for some time. We also know that iran, one of the original and most deadly state sponsors of terrorism will soon be rejoining the Global Oil Market. If president obama gets his way, even as he continues to fight efforts by many of us to repeal outdated oil expert ban that would allow us here in this country to send oil to our allies. I think it does beg the question, and part of the discussion hopefully this newing will be with that source of revenue, that iran is anticipating to receive, what do we do with it . What will the intentions of these be . Libby did do good and build hospitals . Libby to direct yet additional sources of revenue to the terrorist organizations. In rec
Have decided that i must swiftly seek the mandate of the people. Im going to dissolve the lower house on the 21st this week. Abe said he made the decision to postpone the tax hike after he studied economic indexes and opinions of representatives from various sectors. He says the preliminary gdp figures for the july to september period show the economy is not back on the growth trend. Abe said it is pointless to raise the tax if it were to slow down the economy, burden peoples lives, and decrease the tax revenue. Translator i would like to seek the publics judgment on whether the consumption tax hike should be postponed for 18 months, whether it should be with certainty increased to 10 in april, 2017. And whether we should further advance the economic policies and Growth Strategy that we have been working on. Abe said he needs to call a general election at this time to avoid any delay in the process pertaining to the budget for the next fiscal year that starts in april. Abe started his