Deficit Reduction Omnibus Reconciliation Act of 2005--Resumed
Floor Speech
DEFICIT REDUCTION OMNIBUS RECONCILIATION ACT OF 2005--RESUME -- (Senate - November 03, 2005)
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Ms. CANTWELL. My amendment strikes the language allowing for drilling in the Arctic National Wildlife Refuge. The underlying bill is a sweetheart deal for oil companies that have made a record $30 billion in profits last quarter. The bill gives oil companies a free ride with back-door language that allows them to circumvent environmental laws, legal standards and Federal agency oversight that every other business in America has to comply with.
This wildlife area has been protected since the Eisenhower days, and for good reason. There is an average of over 500 oil spills a year on the Alaska North Slope and over 4,000 spills in the last 10 years. Let's not pollute one of the great last refuges of America, and let's take the polluting language out of this bill. The Department of Energy says drilling in ANWR will do nothing in the near term and very little in the long term, reducing gas prices by only one penny. America wants a better energy plan than putting a sweetheart deal in the budget language.
I urge my colleagues to strike this language.
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AMENDMENT NO. 2400
Ms. CANTWELL. Mr. President, I rise to offer a perfecting amendment. In order to raise the $2.4 billion claimed in the underlying bill, it assumes a 50-50 split of oil leasing revenues between the State of Alaska and the Federal Treasury.
But my colleagues may be surprised to learn that whether or not this 50-50 legislative language is upheld in court is a matter of some uncertainty. The State of Alaska has long maintained it is due 90 percent of these revenues, so instead of the Federal Government getting $2.4 billion, it would only get $480 million.
If you don't believe me, the State of Alaska just passed a resolution this spring, saying it would insist on the 90-10 split. I ask my colleagues to be faithful in telling the taxpayers the real story. Let's support maintaining the 50-50 and not moving forward until we are certain that is $2.4 billion of revenue for the Federal Government.
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