Madam President, I have an amendment on this important bill at the desk, amendment No. 80. I am not going to offer that amendment now because the minority side is blocking the offering and calling up of additional amendments until we…
Madam President, I have an amendment on this important bill at the desk, amendment No. 80. I am not going to offer that amendment now because the minority side is blocking the offering and calling up of additional amendments until we dispose of those presently called up. I want to do that right now. But hopefully, I will be doing that in the very near future. I look forward to a full debate and a vote on this amendment, probably in the next tranche of amendments on the bill.
My amendment is about energy. It is about a very crucial part of the domestic policy, something I believe will absolutely be a huge positive incentive and factor to allow us to produce even more American energy, to become even more energy independent, and to provide an even greater boost to our economy; that is, through revenue sharing, sharing the revenue produced by domestic energy production with the producing States.
That is fair for two reasons: one, because those producing States do bear costs and burdens and impacts, including environmental impacts, and, two, providing that incentive is the most important way we can boost even further important domestic energy production. That energy production is vital for our country and our economy. In fact, we are not in recession right now because of those U.S. energy jobs.
If it were not for those oil and gas and related jobs in America, we would still be in a technical recession right now. Last night President Obama talked glowingly of the state of our economy. I think he exaggerated that significantly. However, we would be in a technical recession and we would be in a far different and worse place were it not for those domestic oil and gas and energy jobs. That is what this amendment would boost and would improve even further.
Again, the heart of this amendment is revenue sharing, establishing and expanding revenue sharing for producing States. So rather than all the royalty and revenue produced by this domestic production just going to the Federal Treasury, we need to share that. A lot will go to the Federal Treasury. Most will go to the Federal Treasury. But we need to give producing States a fair share.
Again, as I stated, that is for two reasons--two very important, very basic reasons. First of all, those States bear a burden. They have impacts from that production, including environmental impacts. They need funds to deal with those impacts. It is manageable and it is worth doing, but there are impacts.
Secondly, and maybe even more importantly, providing that revenue sharing for producing States--host States--is the most important way that we will get more producing States, that we will get more host States, that we will have more American energy. So that is what this is all about.
My amendment, again, will be amendment No. 80. I look forward to a vote on the Senate floor soon. It is simple and straightforward. It does several important things. First, it would expedite Outer Continental Shelf lease sales and move forward with a positive OCS lease plan. By expediting leasing and opening up more areas to production, we can create jobs and further enhance and build our manufacturing renaissance and our American energy revolution.
In recognizing concerns for production in the North Atlantic Planning Area as well as the North Aleutian Planning Area in Alaska, this proposal excludes lease sales in those particular regions. Secondly, the bill would increase revenue sharing for Gulf States, and it would establish revenue sharing for brand new production in other areas, such as Alaska and the east coast.
Again, revenue sharing is fair, and it is the most powerful, positive thing we can do to get more States into the act in a positive way of producing American energy, helping our economy, and helping our energy independence. So that would provide revenue sharing for the first time for the Atlantic States of Virginia, North Carolina, and South Carolina. It would provide that revenue sharing for the first time for new production we would be authorizing for Alaska--a clear net gain for North Carolina, Virginia, South Carolina, and Alaska.
This is critical. I know my colleagues from those States are all very supportive of that offshore energy activity. So again, for Alaska, for the first time, Alaska would enjoy revenue sharing with the potential for significant dollars from offshore production going to Alaska. Now, one might ask: What about the Federal revenue impact? What about the fiscal impact? This amendment is fully offset in terms of the Federal Treasury. It is fully offset with revenue from two sources: No. 1, expedited and increased lease sales in our OCS that will produce more Federal revenue, and No. 2, trimming our Federal workforce by attrition, a policy laid out by the Simpson-Bowles Commission-- bipartisan, straightforward, and exactly what we need to do in a fiscally responsible way.
Now, on that piece, the legislation would not fire anyone. It would simply reduce the Federal workforce through attrition. For every three Federal workers who retire, only one could be hired. That is exactly what Simpson-Bowles proposed. Two exemptions exist to this rule that could be used by the President in a state of war or extraordinary emergency--again, exactly the Simpson-Bowles proposal.
This amendment is very important in the area of energy and to be fair to producing States and to be a powerful incentive--the single most powerful incentive possible to get more producing States, more American production into the act. That is vital for our energy independence. It is also vital for our economy. This amendment, No. 80, would be a big, positive boost over time for our economy.
As I said, right now we would be in a recession still were it not for those American energy jobs. That energy renaissance has led the way in our economy. But for those jobs, we would still be in a recession. This can make a good thing better. This can provide more incentives to go further in a powerful, responsible way. It will also be a responsible way on the environment.
Let me note that in Louisiana, you know what we do with our revenue sharing? We spend all of it on environmental concerns, mostly coastal restoration. We are losing our coastline. We are losing a football field of Louisiana costal area every 38 minutes--every 38 minutes, 24 hours a day, 7 days a week, 52 weeks a year. That is the biggest environmental issue we have by far. That is what this money goes to in Louisiana--proper environmental stewardship.
So with that, I urge bipartisan support of this important amendment. I look forward to formally calling it up soon, after we vote on the pending amendments early this afternoon. I look forward to a vote on this on the Senate floor--hopefully, a strong bipartisan vote.
I yield the floor.
Mr. President, I ask unanimous consent to call up amendment No. 80, which I discussed previously today and which is at the desk.
I ask unanimous consent that reading of the amendment be dispensed with.
Mr. President, I ask that the amendment be modified with the changes at the desk.
Thank you, Mr. President.
I yield the floor.