| 00:00:34 |
Kerry, John F. - U.S. Senator, [D] Massachusetts
YOU VERY MUCH FOR BEING HERE THIS MORNING. NEEDLESS TO SAY, CAPITOL HILL IS FILLED WITH A LITTLE BIT OF ANTICIPATION ABOUT THE SUPREME COURT DECISION...
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| 00:11:55 |
Lugar, Richard "Dick" G. - U.S. Senator, [R] Indiana
TROELTROLEUM INSTITUTE. GENTLE GENTLE GENTLEMEN, THANK YOU FOR BEING WITH US. >> MR. CHAIRMAN, I THANK YOU FOR WELCOMING OUR PANEL OF INDUSTRY LEADERS....
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| 00:16:59 |
Kerry, John F. - U.S. Senator, [D] Massachusetts
THE LAW OF THE SEA. I THANK THE CHAIRMAN FOR THIS HEARING AND WE LOOK FORWARD TO THE QUESTIONS. >> I THANK YOU. I REMIND FROM YOUR TESTIMONY, IT FLAGGED...
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| 00:17:50 |
Donohue, Thomas J. - President and CEO
LUGAR AND ALL THE MEMBERS OF THE COMMITTEE WHO ARE HERE OR WILL BE HERE. WE APPRECIATE THIS OPPORTUNITY TO TESTIFY TODAY. I'M PLEASED TO EXPRESS THE...
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| 00:26:52 |
Gerard, Jack N. - President and CEO
IT. THANK YOU MUCH, MR. CHAIRMAN. >> THANK YOU VERY MUCH. FOR VERY CLEAR TESTIMONY, WE APPROACHA APPRECIATE IT. MR. GERARD? >> THANK YOU MR. CHAIRMAN,...
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| 00:31:46 |
Kerry, John F. - U.S. Senator, [D] Massachusetts
PLAYING FIELD AND NEW OPPORTUNITY FOR MARINE SOURCES DEVELOPMENT AROUND THE WORLD. THANK YOU AGAIN AND I LOOK FORWARD TO YOUR QUESTION. >> THANK YOU...
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| 00:32:28 |
Timmons, Jay - President and CEO
RAISED BY PEOPLE AS WE HAVE GONNA LONG HERE. THERE WILL BE CRYSTAL CLARITY AND THAT WILL BE TAKEN CARE OF IN THIS. >> THANK YOU VERY MUCH. MR. CHAIRMAN,...
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| 00:37:04 |
McAdam, Lowell - Chief Executive Officer
NEED S NEEDS A BETTER SYSTEM. >> THANK YOU VERY MUCH. MR. McADAM? >> THANK YOU CHRMR. CHAIRMAN, RANKING REMEMBERRANK ING MEMBER RUGAR AND MEMBERS OF...
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| 00:43:27 |
Kerry, John F. - U.S. Senator, [D] Massachusetts
FOR CRITICAL SUBMARINE CABLE INFRASTRUCTURE. VERIZON URGES THE SENATE TO RATIFY THE CONVENTION. >> THANK YOU MR. CHAIRMAN. >> THANK YOU VERY MUCH....
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| 00:46:58 |
Gerard, Jack N. - President and CEO
FOR YOUR ABILITY TO GO OUT AND DO IT? COULD EACH OF YOU RESPOND TO IT? MAYBE YOU WANT TO START, MR. GERARD? >> SURELY. I THINK IN SIMPLE TERMS,...
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| 00:48:19 |
Donohue, Thomas J. - President and CEO
UNLESS WE'RE TALKING CERTAINTY, UNLESS WE KNOW WHO HAS THE RIGHT CLAIM, WHO GOES THERE, WE WILL NOT GO THERE. I THINK HE MADE THAT CLEAR IN HIS STATEMENT....
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| 00:50:17 |
Timmons, Jay - President and CEO
RESOURCES OF THIS COUNTRY. >> ANYBODY ELSE WANT TO -- YOU DON'T NEED TO. YES, MR. TIMMONS. >> WELL, 161 OTHER COUNTRIES WOULD LIKELY NOT RECOGNIZE OUR...
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| 00:51:59 |
Donohue, Thomas J. - President and CEO
GOING TO REQUIRE THE UNITED STATES TO SOMEHOW BE MANDATED INTO THE KYOTO OR ANY OTHER CLIMATE CHANGE AGREEMENT? MR. DONOHUE? >> WELL, IF YOU READ WHAT...
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| 00:52:46 |
Timmons, Jay - President and CEO
MR. TIMMONS? >> YOU'LL TELL ME HOW YOU THINK THAT IS WRONG, AND I'LL BE HAPPY TO DISCUSS IT WITH YOU. >> I THINK THAT'S A VERY IMPORTANT POINT THAT...
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| 00:53:24 |
Donohue, Thomas J. - President and CEO
SOME CRITICS HAVE ADDITIONALLY ARGUED THAT IF THE U.S. JOINS THE CONVENTION, WE'RE GOING TO LOSE JOBS. THIS CHAMBER OF COMMERCE AGREE WITH THAT? >>...
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| 00:54:05 |
Gerard, Jack N. - President and CEO
MINING AND OTHER ISSUES, THESE ARE WHERE A LOT OF THE JOBS OF THE FUTURE ARE, THESE WILL CREATE JOBS. >> ANYBODY ELSE WANT TO COMMENT ON THAT? >>...
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| 00:55:24 |
McAdam, Lowell - Chief Executive Officer
NETWORKS. AND WE IN THE UNDERSEA CABLE AREA PARTICULARLY INVEST IN MESH NETWORKS SO THAT WE CAN AVOID ISSUES WITH LARGE STORMS OR EARTHQUAKES...
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| 00:56:18 |
Lugar, Richard "Dick" G. - U.S. Senator, [R] Indiana
BACK IN ANOTHER ROUND. SENATOR LUGAR? >> THANK YOU, MR. CHAIRMAN. I WANT TO PURSUE SOME MORE OF THE CERTAINTY ARGUMENT. THIS WAS MADE BY OTHERS IN EARLIER...
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| 00:59:04 |
Gerard, Jack N. - President and CEO
OF CONSIDER WHAT THE PROFIT MAY BE AND PROCEED, GIVEN OUR FLEETS AND GIVEN OUR GENERAL STATURE IN THE WORLD. MR. GERARD, DO YOU HAVE A THOUGHT ABOUT...
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| 01:01:38 |
Donohue, Thomas J. - President and CEO
OF SOVEREIGNTY, OUR SENSE OF OUR ABILITY TO MANAGE THINGS. WHY DOESN'T THAT WORK REALLY IN THE REAL WORLD? >> THANK YOU. YOU KNOW, SENATOR, WE'RE A...
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| 01:03:40 |
McAdam, Lowell - Chief Executive Officer
JUST A COUPLE OF COMMENTS ON BOTH OF YOUR QUESTIONS HERE. WHILE WE CERTAINLY DO ACCEPT RISK, AND WE BALANCE THAT IN ALL OF OUR INVESTMENTS, IT IS...
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| 01:04:29 |
Corker, Bob - U.S. Senator, [R] Tennessee
HOSE-SIZED CABLE GOING INTO ANOTHER COUNTRY SEEMS TO BE A BIT OF AN OVERKILL. >> THANK YOU VERY MUCH. SENATOR CORKER? >> THANK YOU, MR. CHAIRMAN. ...
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| 01:07:23 |
Gerard, Jack N. - President and CEO
THOUGH, IS PROBABLY EASIER GOTTEN TO BY U.S. COMPANIES, IS IT NOT? AND THE EXTENDED PIECE IS DEEPER AND MORE DIFFICULT TO EXPLORE, IS IT NOT? >> YES...
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| 01:08:49 |
McAdam, Lowell - Chief Executive Officer
YOU CAN'T ADJUDICATE THESE CLAIMS THROUGH THE UK IF WE'RE NOT SIGNATORY. IT DOESN'T MAKE ANY SENSE TO ME THAT ALL OF THIS IS RIDING UPON U.S. -- THE...
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| 01:13:01 |
Donohue, Thomas J. - President and CEO
PROCESS IN PLACE FOR OUR OWN COUNTRY. IF YOU COULD HAVE YOUR LEGAL FOLKS TELL ME DIFFERENTLY AS PART OF OFFICIAL RECORD, OR TELL ME THAT I'M RIGHT,...
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| 01:16:14 |
Kerry, John F. - U.S. Senator, [D] Massachusetts
TO KNOW THAT. IF YOU COULD SEND THAT TO ME, I WOULD APPRECIATE IT. AND AGAIN, I ASK THESE QUESTIONS WITH GREAT RESPECT. >> CAN I TAKE A MOMENT? I WANT...
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| 01:18:54 |
Donohue, Thomas J. - President and CEO
AND YOU'RE EXPRESSING THE VIEWS OF THE PEOPLE YOU REPRESENT? MR. TIMMONS? >> THE LATTER, MR. CHAIRMAN. >> MR. DONOHUE? >> I ASKED YOU FIRST TO PLEASE...
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| 01:19:17 |
Gerard, Jack N. - President and CEO
IS A VIGOROUS DISCUSSION. AND MR. CHAIRMAN, THANK YOU FOR RESOLVING ALL THAT ISSUE. MY LAWYERS WILL GET IT DONE A LOT FASTER. NOW. >> THANK YOU....
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| 01:20:11 |
Shaheen, Jeanne - U.S. Senator, [D] New Hampshire
HEARING. SO I'M ACTUALLY GOING TO START WITH THAT, MR. GERARD, ENERGY. AND I WONDER IF YOU COULD TALK ABOUT WHY THIS TREATY IS IMPORTANT TO THE ENERGY...
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| 01:20:31 |
Gerard, Jack N. - President and CEO
COMMITTEE, YOU STATED THAT ACCESS BY SECURING THE EXCLUSIVE RIGHTS FOR OIL AND GAS EXPLORATION. COULD YOU ELABORATE ON THAT AND WHY IT'S IMPORTANT?...
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| 01:22:31 |
Donohue, Thomas J. - President and CEO
IF YOU COULD TALK SPECIFICALLY ABOUT ANY SECTOR OF THE U.S. BUSINESS COMMUNITY THAT OPPOSES U.S. ACCESSION TO THIS TREATY. HAVE YOU HEARD FROM ANYBODY...
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| 01:26:07 |
Timmons, Jay - President and CEO
MINERALS, AND THEN WHAT WOULD HAPPEN IF CHINA IN FACT DID CONSUME WHAT IT'S CURRENTLY EXPORTING ALL WITHIN THAT COUNTRY, AND WHAT IMPACT THAT WOULD HAVE...
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| 01:28:41 |
Donohue, Thomas J. - President and CEO
SIGNIFICANT AMOUNT OF UNCERTAINTY THAT WILL NOT ALLOW CAPITAL TO FLOW TO THOSE INVESTMENTS. >> THANK YOU. >> SENATOR, JUST ONE COMMENT. AND JACK GERARD...
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| 01:29:27 |
Isakson, John "Johnny" - U.S. Senator, [R] Georgia
YOU. >> THANK YOU, SENATOR SHAHEEN. SENATOR ISACKSON, THANKS FOR YOUR PATIENCE. >> THANK YOU, MR. CHAIRMAN. THANK YOU ALL FOR COMING. IT'S GOOD TO HAVE...
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| 01:29:45 |
Gerard, Jack N. - President and CEO
IN THE ABSENCE OF MY HAVING READ THE POLICY. I THINK IT WAS SHELL THAT INVESTED $4 BILLION IN THE ARCTIC. THEY HAD SENT TWO SHIPS OUT RECENTLY FROM...
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| 01:30:47 |
Timmons, Jay - President and CEO
TIMMONS, YOU MADE A STATEMENT, AND I WROTE PART OF IT DOWN. SO I APOLOGIZE AGAIN IF THIS IS WRONG. THIS IS AN IMPORTANT ISSUE FOR ME. I'M TALKING...
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| 01:31:45 |
Donohue, Thomas J. - President and CEO
ON THE COUNCIL AND THE ASSEMBLY THERE IS AN OVERRIDE OF THAT ABSENCE OF CONSENSUS THAT IS A SIMPLE MAJORITY OF THOSE VOTING AND PRESENT ON THE COUNCIL,...
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| 01:32:43 |
McAdam, Lowell - Chief Executive Officer
MALTA'S ATTEMPT TO ASSESS A FEE OR A LICENSE. YOU TALKED ABOUT A VIETNAM CARRIER THAT HAD DONE 106 MILES WORTH OF DAMAGE TO YOUR CABLE. DO YOU HAVE ANOTHER...
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| 01:34:27 |
Kerry, John F. - U.S. Senator, [D] Massachusetts
INVESTMENTS. THAT'S MY MAIN POINT, SENATOR. >> THANK YOU VERY MUCH, MR. CHAIRMAN. I'VE GOT TO JOIN A CONFERENCE CALL. SO I'LL YIELD BACK THE BALANCE...
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| 01:37:01 |
Casey, Bob - U.S. Senator, [D] Pennsylvania
IT WITH EVERYONE? >> EVERYONE ON THE COMMITTEE WILL GET IT. THANK YOU FOR YOUR PATIENCE. >> THANK YOU, AND THANK YOU FOR CALLING THIS HEARING. THIS IS...
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| 01:38:35 |
McAdam, Lowell - Chief Executive Officer
BASED UPON THAT DEPENDENCE WE HAVE I GUESS IS THE BEST WORD, WHAT CAN YOU TELL US ABOUT THE IMPORTANCE OF THIS -- OF THIS TREATY JUST AS IT RELATES TO...
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| 01:40:53 |
Timmons, Jay - President and CEO
IN A FEW WORDS WHY THIS TREATY IS IMPORTANT FOR MANUFACTURING GENERALLY, HAVING A STRATEGY FOR MANUFACTURING, BUT ESPECIALLY FOR MAINTAINING THOSE...
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| 01:42:12 |
Donohue, Thomas J. - President and CEO
I HOPE I CAN BE THAT ARTICULATE WITH THE CONSTITUENT. >> I DON'T THINK THAT'S A COUPLE OF SENTENCES UNFORTUNATELY, BUT I'LL WORK ON THAT AND GET BACK...
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| 01:42:27 |
Gerard, Jack N. - President and CEO
INCREASE THE AVAILABILITY OF FUELS. AND THAT'S GOING TO HAVE A LARGE, LARGE EFFECT ON MANUFACTURING AND ON YOUR STATE'S ECONOMY. >> THANK YOU, MR. DONOHUE....
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| 01:43:34 |
Shaheen, Jeanne - U.S. Senator, [D] New Hampshire
THE ISSUES THAT HAS BEEN RAISED ABOUT THE TREATY, AND I HEARD SOME OF THAT DEBATE TODAY AS BEEN WHAT IS THE REAL AUTHORITY OF THE INTERNATIONAL SEA...
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| 01:44:25 |
Gerard, Jack N. - President and CEO
AUTHORITY, WHAT IMPACT HAS IT HAD TO HAVE THE U.S. NOT BE PART OF THAT BODY? >> I'LL TRY IT, SENATOR. FIRST IS TO US THAT'S VERY SIGNIFICANT. AS SENATOR...
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| 01:48:31 |
Kerry, John F. - U.S. Senator, [D] Massachusetts
MUCH. >> THANK YOU, THOSE ARE GOOD QUESTIONS AND AN IMPORTANT PART OF THE RECORD. I APPRECIATE IT. SENATOR LUGAR DOES NOT HAVE ADDITIONAL QUESTIONS....
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| 01:49:33 |
Timmons, Jay - President and CEO
THEMSELVES APPROACH TO THIS YOU'VE ADDRESSED IT SOMEWHAT HERE AND YOU TALKED ABOUT THE CERTAINTY. I WANT TO BE CRYSTAL CLEAR WHETHER THAT'S AN ALTERNATIVE....
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| 01:51:12 |
Donohue, Thomas J. - President and CEO
WHICH MEANS JOBS SUFFER. AND SO IT'S IN THE LONG TERM ECONOMIC AND NATIONAL SECURITY INTEREST OF OUR COUNTRY AND THE VIEW OF MANUFACTURERS THAT THIS...
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| 01:53:07 |
Gerard, Jack N. - President and CEO
VIEW. WE HAVE TENS OF THOUSANDS OF THEM AND THINK IT'S ABOUT TIME TO GET ON WITH IT. >> I UNDERSTAND THERE ARE A LOT OF OPINIONS ABOUT THIS. I WOULD...
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| 01:53:49 |
Donohue, Thomas J. - President and CEO
RESOURCE. AND PERHAPS IN FAIRNESS GIVE THAT OPINION MORE WEIGH THAN OTHERS. >> AND AT THE SAME TIME THINK WHAT THE JOINT CHIEF OF STAFFS AND INCLUDED...
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| 01:56:21 |
Gerard, Jack N. - President and CEO
OUTWEIGHS THE OBJECTIONS, WHICH I RESPECT, THAT THE PLURALITY UP HERE IS HIGHLY SIGNIFICANT. >> THE ENERGY OPPORTUNITIES IN THE UNITED STATES TODAY...
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| 01:58:46 |
McAdam, Lowell - Chief Executive Officer
IT WILL BE ALTERING FOR THIS NATION FOR MANY YEARS YET TO COME. >> YOU DON'T HAVE TO, BUT IF YOU WANT TO ADD ANYTHING -- >> NO, THE ONLY THING I WOULD...
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NOTE: The transcript for this program was compiled from uncorrected Closed Captioning.