Ted Cruz: The Objective of the Saudis and Russians Was to Bankrupt Our Energy Companies and Put Them out of Business

HENRY Talk about how ░░░░░░░░ s working Because the ░░░░░░░░ is touting the third ░░░░░░░░ and saying that small ░░░░░░░░ are getting what they ░░░░░░░░ His critics are saying ░░░░░░░░ phones are tied up ░░░░░░░░ of the banks aren ░░░░░░░░ all on board So ░░░░░░░░ wonder what you hear ░░░░░░░░ your constituents on that ░░░░░░░░ a broader context of ░░░░░░░░ is happening in your ░░░░░░░░ right now because when ░░░░░░░░ talk about the economic ░░░░░░░░ and the health pain ░░░░░░░░ the far too high ░░░░░░░░ of deaths in America ░░░░░░░░ 100 in your state ░░░░░░░░ Wall Street Journal has ░░░░░░░░ front page story as ░░░░░░░░ probably know this morning ░░░░░░░░ that there s two ░░░░░░░░ for Texas You have ░░░░░░░░ health crisis of people ░░░░░░░░ and then there is ░░░░░░░░ oil shock sir CRUZ ░░░░░░░░ Absolutely So let me ░░░░░░░░ those one at a ░░░░░░░░ In terms of how ░░░░░░░░ emergency relief bill does ░░░░░░░░ don t know yet ░░░░░░░░ just passed it It ░░░░░░░░ just signed into law ░░░░░░░░ it s going to ░░░░░░░░ a couple of weeks ░░░░░░░░ a minimum for that ░░░░░░░░ to start to be ░░░░░░░░ effective You have the ░░░░░░░░ checks that every American ░░░░░░░░ makes 100 000 a ░░░░░░░░ or less will get ░░░░░░░░ the mail 1200 per ░░░░░░░░ 500 per child That ░░░░░░░░ a couple who makes ░░░░░░░░ 150 000 a year ░░░░░░░░ three kids will get ░░░░░░░░ check for 3 900 ░░░░░░░░ s real money for ░░░░░░░░ family If you just ░░░░░░░░ laid off if you ░░░░░░░░ worried how to pay ░░░░░░░░ rent that is emergency ░░░░░░░░ to a lot of ░░░░░░░░ who are hurting Those ░░░░░░░░ haven t arrived yet ░░░░░░░░ they are expected the ░░░░░░░░ Department says they will ░░░░░░░░ in the next couple ░░░░░░░░ weeks So that will ░░░░░░░░ to make a difference ░░░░░░░░ a lot of people ░░░░░░░░ small business loans we ░░░░░░░░ appropriated 377 billion for ░░░░░░░░ small business loans administered ░░░░░░░░ the small business administration ░░░░░░░░ in turn uses local ░░░░░░░░ community banks to administer ░░░░░░░░ loans They just started ░░░░░░░░ applications on Friday We ░░░░░░░░ two days into the ░░░░░░░░ We don t really ░░░░░░░░ are there going to ░░░░░░░░ bureaucratic hurdles Of course ░░░░░░░░ gigantic government program is ░░░░░░░░ to have hurdles any ░░░░░░░░ billion bill is going ░░░░░░░░ have significant problems Those ░░░░░░░░ business loans are designed ░░░░░░░░ you own a restaurant ░░░░░░░░ nail salon hardware store ░░░░░░░░ theater any small business ░░░░░░░░ are 500 employees or ░░░░░░░░ go to your local ░░░░░░░░ bank you can get ░░░░░░░░ emergency loan If you ░░░░░░░░ that loan to pay ░░░░░░░░ payroll and salary to ░░░░░░░░ for rent or mortgage ░░░░░░░░ your business or to ░░░░░░░░ for utilities that loan ░░░░░░░░ entirely forgivable and becomes ░░░░░░░░ grant And that applies ░░░░░░░░ if you ve already ░░░░░░░░ your employees You can ░░░░░░░░ them back and use ░░░░░░░░ forgivable loan proceeds to ░░░░░░░░ paychecks It s designed ░░░░░░░░ get millions of people ░░░░░░░░ getting a paycheck We ░░░░░░░░ to see crosstalk That ░░░░░░░░ take weeks if not ░░░░░░░░ couple of months to ░░░░░░░░ how it operates You ░░░░░░░░ rightly Texas has a ░░░░░░░░ economic catastrophe hitting us ░░░░░░░░ the same time the ░░░░░░░░ of energy prices And ░░░░░░░░ significant part of that ░░░░░░░░ driven by the Coronavirus ░░░░░░░░ and other significant part ░░░░░░░░ that is driven by ░░░░░░░░ Arabia and Russia that ░░░░░░░░ begun flooding the market ░░░░░░░░ cause the price to ░░░░░░░░ Last week last Friday ░░░░░░░░ flew to D C ░░░░░░░░ meet with the president ░░░░░░░░ meet with CEOs of ░░░░░░░░ energy companies We spent ░░░░░░░░ hours talking about how ░░░░░░░░ can combat that to ░░░░░░░░ the Saudis and Russians ░░░░░░░░ bankrupting all the Texas ░░░░░░░░ all of the U ░░░░░░░░ energy producers I think ░░░░░░░░ keys to that are ░░░░░░░░ to be number one ░░░░░░░░ real pressure on the ░░░░░░░░ I ve talked with ░░░░░░░░ Saudis multiple times the ░░░░░░░░ has talked to them ░░░░░░░░ waging economic warfare on ░░░░░░░░ United States I m ░░░░░░░░ based on their commitments ░░░░░░░░ re going to pull ░░░░░░░░ and end that effort ░░░░░░░░ secondly this is what ░░░░░░░░ spent a lot of ░░░░░░░░ Friday talking about we ░░░░░░░░ to make sure that ░░░░░░░░ energy companies that are ░░░░░░░░ this massive attack particularly ░░░░░░░░ independent energy companies have ░░░░░░░░ to capital That they ░░░░░░░░ not frozen out of ░░░░░░░░ able to get a ░░░░░░░░ of credit to stay ░░░░░░░░ because the objective of ░░░░░░░░ Saudis and Russians was ░░░░░░░░ bankrupt them all and ░░░░░░░░ them out of business ░░░░░░░░ would be really bad ░░░░░░░░ the national security and ░░░░░░░░ security of our country.”