Mr. President, parliamentary inquiry: I just returned, and I apologize. Where are we now? As I understand it, some time was used on a matter other than this bill charged to other matters. How much time is left now, and who has the time? I…
Mr. President, parliamentary inquiry: I just returned, and I apologize. Where are we now? As I understand it, some time was used on a matter other than this bill charged to other matters. How much time is left now, and who has the time?
I note the distinguished minority whip is here.
He did. Yes.
We object to granting you that privilege at this point. We understand the time will come, but it isn't certain that she will have the next amendment. That is the point.
We have no objection. I misunderstood. I apologize. If you want the Record to reflect that the next Democratic amendment will be Senator Feinstein's amendment on CAFE, we have no objection.
That is correct; whenever you do.
So you don't have any misunderstanding either, we will be finished with the debate and, as we understand it, we will then vote.
That is correct.
We want to accommodate. If there was any misunderstanding, it perhaps was on my part. I have no objection.
I yield the floor and suggest the absence of a quorum, and I ask unanimous consent that the time be charged equally to the remaining three Senators.
That is fine. I was going to make sure he got it by giving him some of mine. I appreciate that very much. It is hard to say who should speak last because the first amendment to be voted on is Senator Bond's amendment. Maybe he should be speaking last. If that is the way we are going to do it----
Well, look, Senator Durbin has 15 minutes. We don't need to give him any more time. He can save 2 of that for just before the vote. We need to save Senator Bond 2 minutes. We need to give Senator Bond 2 minutes to speak in opposition. Senator Durbin doesn't need any additional minutes beyond the 15.
I thought you had been speaking all afternoon--but it is eloquent.
Mr. President, I have how many minutes?
Mr. President, I will try to do it in that period of time. I ask unanimous consent for 3 minutes instead of the 2 minutes and something.
Mr. President, I think I am going to do it in 2 minutes and whatever few seconds.
First, I have been looking forward to this debate all day because it is a very mature debate. The Senate spent a good deal of time last year discussing these two amendments, as well as others. The Feinstein amendment we agreed to and that we will be talking about, I think we discussed it heretofore also, but in any event, a lot of time has been spent discussing these amendments.
In addition to these amendments, I remind Senators that we have already adopted an amendment, that came as quite a surprise, by Senator Landrieu that would require the President to develop a plan to reduce domestic petroleum consumption by 1 million barrels a day by 2013. Since major reductions in oil consumption are most likely going to be achieved through reductions in the use of transport fuels, the President, as a result of the Landrieu amendment, will probably have to focus on measures to increase fuel economy.
I suggest to Senators that the Landrieu amendment may obviate the need for further debate. Nonetheless, we are debating and we will continue to debate. It seems to me the Landrieu amendment gives the President the kind of authority and flexibility needed in this country if, in fact, this issue is as important as it is being alluded to.
Keeping that in mind, if the Senate must choose among the offered CAFE amendments, I must lend my support to the amendment offered by Senator Bond and Senator Levin. Under Bond-Levin, standards will be based upon sound science and solid technical advice. Their amendment mandates that NHTSA experts set a new CAFE number considering jobs, safety, technology, and other key factors.
The Bond-Levin amendment passed overwhelmingly last year. I do not think much has changed. As a matter of fact, we are a little bit more secure in terms of energy now. We are still using a lot, maybe more, but the world is a little more secure in terms of oil dependence. The amendment they have offered is what I would call a commonsense amendment. It would not adversely affect employment, safety, or consumer choice, but it would do the job.
Incidentally, the amendment is supported by the United Auto Workers, the National Chamber of Commerce, the AFL-CIO, the Association of Manufacturers, the Farm Bureau of America, and over 30 additional associations.
When combined with the considerable tax incentives for advanced vehicle technology in the Finance Committee package, the Bond-Levin amendment offers a sensible way to achieve fuel efficiency gains and to reduce our dependence on foreign oil. It does so in a way that would not hurt the United States economy, increase vehicle cost to consumers, and cost American jobs or endanger lives.
I understand the distinguished Senator from Illinois has about 3 minutes, after which time we will start a vote.
Have the yeas and nays been ordered?
I ask for the yeas and nays.
Mr. President, we are going to vote on this amendment, and then immediately following that, the next amendment will be the Bond-Levin amendment, which will be preceded by 2 minutes of debate on the part of Senator Durbin in opposition and Senator Bond in favor. So Senators should know we have one vote, with 4 minutes of debate followed by another vote. I ask unanimous consent that the second vote be a 10-minute vote.
Madam President, I move to reconsider the vote.
Madam President, fellow Senators, if you will not leave, we will vote again very shortly. There are 4 minutes with 2 minutes on each side, and then we will vote on the Bond-Levin amendment. The Senator from Illinois has the first 2 minutes and Senator Bond wraps it up. Then we will vote.
I ask for the yeas and nays.
Madam President, I move to reconsider the vote.
Madam President, if I may have the attention of Senators, please, there are two amendments. One is a Durbin amendment, which Senator Durbin indicated when he sent it to the desk was sent up by mistake. It is a so-called Durbin No. 2 tax amendment. He said, then, that he would like to withdraw it.
I ask unanimous consent that he be permitted to withdraw that amendment.
Madam President, I move to table the Durbin amendment.
Madam President, I ask unanimous consent that the order for the quorum call be rescinded.
Parliamentary inquiry: Is a motion to set aside the Durbin tax amendment the pending business?
A motion to table.
Let's go.
That having been done, I move to set the amendment aside.
The amendment is withdrawn?
The amendment is still pending. I move to set the amendment of Senator Durbin aside.
I want to set both amendments aside so that I can proceed with another amendment. I ask unanimous consent that the Durbin amendment be set aside and that the Campbell amendment be set aside so that we may proceed with the electricity amendment.
I thank Senator Cantwell for her cooperation. First, I assure her that what we have just done in no way jeopardizes her rights to offer amendments. She has not only one but maybe a number of amendments she wants to offer to the so-called electricity provisions. That will be offered next, and clearly we are going to be on it until Senators have no more amendments. So we are going to be here long enough for the amendments of Senator Cantwell to be offered, whatever they are and however many there are.
Amendment No. 1412
I send the electricity amendment to the desk and ask for its immediate consideration.
Madam President, I ask unanimous consent that the reading of the amendment be dispensed with.
The electricity amendment pending at the desk has 13 cosponsors. I thank the cosponsors, Senator Landrieu, Senator Thomas, Senator Murkowski, Senator Campbell, Senator Smith, Senator Alexander, Senator Kyl, Senator Nelson of Nebraska, Senator Hagel, Senator Talent, Senator Bunning, and Senator Coleman.
I have a very brief statement, and I trust Senators will listen. It is to the point. We will be on this until there are no more amendments to offer to this title.
I will be pleased to yield.
Yes.
Madam President, I can guarantee Senators that the Senator from New Mexico has worked for the last 7 months on this bill. The electricity amendment is a compromise supported by a broad array of stakeholders, much broader than I ever would have thought when I assumed the chairmanship of this committee. I believe that, per se, assumes that this amendment plugs all the so-called loopholes so there will not be any Enron end runs.
I repledge that I will work with any Senator who has an amendment that they think improves upon this bill. That does not mean, however, that every amendment that comes along, that says it makes this bill better, is going to be one that this Senator accepts. I do not want to return to the regulation of PUHCA as a way of protecting the consumers. Quite to the contrary. I believe its day has come. It has served its purpose.
There are a number of letters of support for this electricity amendment which I am offering. Let me start with the administration. They say they support the substitute electricity amendment and believe it will effectively modernize our Nation's antiquated electricity laws.
The National Rural Electric Cooperative Association:
Supports passage of the carefully crafted Domenici
amendment without modification.
The American Public Power Association:
Strongly supports the compromise in its totality without
modification.
The Large Public Power Council:
Supports the electricity substitute without modification.
Electric utility companies such as Mid-America, Allegheny, and Xcel, have offered their support for the Domenici electricity amendment, and I have now told my colleagues that it is supported by 13 Senators.
Because it is bipartisan, we might call it the Domenici-Landrieu amendment. For those who claim we need a balanced energy policy, here is a balanced electric title with wide support that needs to be included in our final bill. Some would add changes to it, and we are willing to look at them, but those who understand the complexities of the issues known as the Domenici electricity amendment know it represents a fair common ground. That is why there is support for this amendment without modification.
I know there will be a number of second-degree amendments, and I am willing to look at them. I have already said I am willing to look specifically at amendments from the distinguished Senator from Washington, Ms. Cantwell. I will look at them carefully. I understand the significance of the problem she confronts. I do not support any amendments yet, and obviously if they disturb the delicate and sometimes gentle balance in this bill, I will have to oppose them. I will look with genuine interest, with the best talent I have, at amendments that Senators have if they think they really address the issues that have beset this country over the past 25, 26 months in terms of natural gas, utility prices, and utility companies and their shenanigans, such as at Enron.
The amendment is now pending. I am very proud of it, and I am pleased to be at this point. I thank the Chair for recognition, and I thank the Senate for paying attention. We are going to be open to amendments, and I understand my friend and colleague from New Mexico, Senator Bingaman, will probably have an amendment shortly.
I yield the floor.
Mr. President, first, I congratulate my colleague from New Mexico on his superb argument and presentation. I regret that I have to disagree. But before I state a few remarks, because I believe my friend from Wyoming has done a very good job of telling the Senate why we don't need this amendment, I would like to ask the Senate and all the Senators and their staffs, who were paying attention on their behalf, to remember now that we are on that very important part of this legislation--the electricity section--which we understood many Senators were worried about, and we understood a number of Senators had amendments.
I have known from the beginning that my friend, Senator Bingaman, had one or two amendments. But I heard other people saying: We don't want to hurry along here because this is a very important piece of legislation and we want to have a chance to offer amendments.
Well, the time is now. I am very hopeful, and the majority leader has told me it is up to me. I look at my distinguished friend, who is very much on top of things in the Senate, the Senator from Nevada, and say that he told me and our leader to stay here as late as we can tonight to get all the amendments we possibly can on this subject.
We know a lot of Senators are busy, but we know they were told we were going to be in session every day this week. We are going to work day and evening. Every evening we work, it takes away an extra day at the end of the week that will detract from our recess. So if Senators have amendments, get them ready. We want them after this amendment.
When I am finished, and after my friend from Wyoming has another chance to speak, if he wishes, I am going to ask the minority side what they would like to do next.
Mr. President, I say to Senator Reid, my desire is that we not vote immediately on the Bingaman amendment, although I am perfectly willing. It is 20 minutes of 7. There is nobody on our side saying we should not. Maybe Senator Reid knows some reasons. I much prefer Senators keep doing what they are doing but that somebody come down and offer another amendment. Then I prefer not to vote on that amendment. I prefer another amendment until we have as many amendments as we can get in by late tonight.
Why do I want to work late tonight? Besides it being Tuesday and we want to finish this bill by Friday, it is the unspoken word that the other side of the aisle, more so than we do, wants to offer some clean- air type amendments that really do not belong on this bill but have historically or traditionally found their way on it because they do not have any other place to go. They want to offer some amendments.
There are apparently two amendments on that side, at least, plus a couple of other amendments in the same vein. They wanted to offer them tomorrow, which can be nicknamed ``environmental day.'' We want to cooperate. To the extent we have to use more of the day for electricity amendments, we use less time for other amendments.
I will in a very few words state my case. In 1935, I was 3 years old. I am not a student of what happened in the world during the Great Depression, but PUHCA was passed. It is funny sounding. It is terrible it had to have such an acronym, PUHCA, Public Utility Holding Company Act. It is almost one of those acronyms that cries out to never be called by an acronym, and it is better to be called the Public Utility Holding Company Act than PUHCA.
Over the years, I have heard that funny word, and I did not even want to find out what it meant, but Public Utility Holding Company was a protective mechanism to make sure that during an era of pyramiding, where big money would buy up utilities, there was somebody watching. As an example, if one very rich bank out of Chicago, IL, started buying up companies all over the country and became a holding company--thus the title.
Nobody is crying for the retention of PUHCA because there are so many other protections for that which it was invented. It is time for that funny name to disappear, and then it will not be used so much. We can then just say ``used to be PUHCA,'' and we will not have to talk about it.
The truth is, as Senator Thomas said--and I agree--expanding FERC's authority to cover acquisition of generating facilities, which is part of Senator Bingaman's amendment, is unnecessary. Furthermore, this amendment preempts States' abilities to protect consumers. Repealing PUHCA will not preclude State and Federal regulators from protecting ratepayers. Access to books and records, as well as rules, regarding debt acquisition will protect investment made on behalf of ratepayers.
Also, the Department of Justice and the Federal Trade Commission will continue to protect against antitrust violations, and the Securities and Exchange Commission, which currently oversees PUHCA, has recommended on a number of occasions that it be repealed with certain consumer protections transferred to FERC and State regulatory commissions, as noted above.
What we are doing is getting rid of PUHCA, the 1935 antiquated law. In place of it, we clarify the jobs FERC does today and expand it only in a limited fashion. Our amendment let's PUHCA review utility transactions. The new authority is granted over gas
acquisitions of utility companies by an electric utility company. This protects consumers and promotes investment in that regard.
Clearly, if ever there was a case where we are overprotecting, it is the utility companies. I mentioned how many protections already exist. PUHCA started disappearing into the woodwork and became subservient and almost consumed by the SEC--they run it. SEC said they do not need PUHCA anymore.
Believe it or not, it is pretty certain, when we finally vote, we are going to get rid of PUHCA. It is like certain past Presidents recommended getting rid of PUHCA and 40 years later something happens. That reminds me of something interesting and funny. About 8 years ago, I was heralded as one who had passed the largest single sale of public property, and all I had done was to take the U.S. Government's ownership of converting highly enriched uranium for use by nuclear powerplants, which is owned by the public, which had been recommended 30 years before to be privatized, and I privatized it. I was heralded for having passed the first multibillion-dollar sale of property of the Federal Government. It is nothing new. It sure did not take any ingenuity, just like it takes no ingenuity to know that PUHCA ought to get out of here.
In getting rid of PUHCA, the test that FERC applies is:
Consistent with the public interest, we do not add new
tests.
Senator Bingaman's amendment does. I do not think we need to add new tests. I believe what is in the bill is adequate for the governance of FERC in that regard.
When I introduced the bill, I told the Senate all the groups that liked this bill--the public-private ownership, all of them. And it is most interesting, they all think we adequately protect against whatever the evils might have been that PUHCA might have covered: Municipalities, the APRAs, the large public power companies. They think there is a pretty good balance just like it is.
At some point in time I hope when we vote on this that Senator Bingaman will understand there are those of us who think what we put in the bill is perfectly adequate and well balanced with reference to protection in this area.
I ask Senator Bingaman and Senator Reid if they are finished? Are we ready for another amendment?
Yes.
Yes.
I say to the Senator truthfully, it is not understood how hard I worked and how much I worried and sweated to get to where we are, which is the pending matter. I want Senators to understand we have to get rid of it.
So I do not want to do that. I want Senators to get their amendments, even if it takes us a little while longer. The Senator is implying there may be four, maybe five. I do not know.
Might I ask Senator Bingaman if he has another amendment?
My pleasure is that we have votes tonight, unless the Senate sends word, in its inimicable way, that we are going to get all the amendments on electricity in due course this evening, in which event I would say we will not have any votes.
When does the Senator think she might know?
Could the Senator inquire? What we could do then, while the Senator is inquiring, we could go with the second Bingaman amendment and we will stack them with a clear understanding that when we are ready, we will proceed in the same order they have been offered to vote on them.
To the extent the Senator from Nevada desires and can be helpful--and that is strictly up to him--I would rather we get other Senators to offer amendments. Senator Bingaman has one. Are there any others?
We know Senator Cantwell wants a lot of time and we would say to her she could be last tonight and take as long as she wants. We could then come in in the morning and take some more. I do not think we ought to have her come up and then say the only thing we did tonight was the Bingaman No. 1 and Cantwell all evening. I think we ought to be doing a little more than that.
Let's try to do this: Let us assume that we had Bingaman No. 2 and the Senator from Nevada went off and tried to discern how many other amendments on this subject we have, and that he return and say what they are. I am perfectly willing then to try to set in motion an agreement that some of them would be taken up in the morning.
If we do not know, we are going to stay here and see how many we can flush out.
Does Senator Bingaman want to proceed?
Sure.
First, I thank the Senator for the hard work he is doing, trying to ascertain from Senators at this hour--although we have all been telling them we are working, and this is the work part of the day, it is not hard to find out what they want to do. I thank you for the obviously successful effort you made so far.
Yes.
Might I say to the distinguished Senator from Nevada, all I want to try to do is move this bill along, as you know, and to do that in a way that is consistent with Senators having ample time to prepare and to present their amendments properly. You indicated to me, without certainty but relatively close, that you probably--we are probably looking at eight amendments, five Senators, with one of them who has three.
I might ask, Is Senator Bingaman's No. 2 included in that?
No. So it is the possibility of nine amendments. I want to tell the Senator from the start that, as far as the distinguished Senator Maria Cantwell, I certainly do not have any objection to 1 hour tonight and 2 hours tomorrow morning. We can start with that. But what I do have some concern about is trying to determine when we would be finished with amendments to the electricity title. I tell you that as much because I have been hearing from your side of the aisle of the great desire to take up two amendments that have to do with climate change. I have been told the only way that can be done, and done right, is tomorrow because everybody will be here. That is two.
I have been told that--and I know--Senator Bingaman wants to offer his amendment with reference to a 10 percent mandatory renewable portfolio, and that belongs in the same package.
I have been told the distinguished Senator has a new source performance review; is that correct? Is that what it is called?
I remember that when I was on the committee--new source review. He had that up once. A couple of Senators came back who were not here then. That may well be why. But that is another one we have to look at.
I guess what I am wondering is, if it would be asking you too much to suggest the following; that Senator Bingaman offer his amendment--I am not suggesting, I am not proposing this officially--he offer his second amendment here, and that Senator Cantwell offer her amendment tonight and debate it for an hour; that you try to find one more amendment to be offered tonight, and then that we reach agreement, come back tomorrow, reconvene at 9 o'clock in the morning, at which time Senator Cantwell would have her time, and all the remaining amendments--that is 9, 10, 11--remaining amendments in this area would be finished by 1 o'clock in the afternoon.
What time would you think?
Yes.
What would you like, 2:30; 3?
I would like to do this, with your concurrence. Why don't we proceed with the Bingaman amendment, tell Senator Maria Cantwell she will be next for an hour tonight. In the meantime, would you let us work on the unanimous consent request proposal so your staff and ours----
Unless an agreement is worked out, Senator, we are going to have a vote tonight.
Would the Senator like to work on a unanimous consent request that includes Senator Maria Cantwell?
Let us make this effort: That Senator Bingaman would proceed for as long as it takes, Senator Cantwell will offer her amendment and take an hour tonight, and that we work on a UC request together while that is occurring. She will get her 2 hours tomorrow, and we will try to get a consent as to when we might finish. If not, I will go along and say we won't have any votes tonight.
I want to say now--and I will say it three more times tonight before we finish--to Senators wherever they are that we are not quitting tomorrow night at 7:20. If there are Senators who want to be off the Hill, they can be off. We are going to be here tomorrow night voting on amendments that your side wants. We are just about out of amendments on our side of the aisle. I am not sure of any really important ones left. Your side has been telling me they want these very important amendments that they claim are related to this bill. A whole bunch of amendments that are left don't even belong on this Energy bill and are not even within this committee's jurisdiction. This Senator stands up and argues against them but, as a matter of fact, they ought to be argued by another committee chairman. I am not even the one who takes care of them. But I will have to do that.
As long as everybody understands, Senator Cantwell will be taking 2 hours tomorrow. We are going to start at 9 o'clock. We are still going to be on these amendments to this bill. We need Senators to get ready tomorrow morning with additional amendments in this arena. Then we will proceed quickly to the amendments such as the one Senator Feinstein has and all the others. But we will be here tomorrow evening. We will be here plenty late as we take those amendments, as long as we understand we are ready to do what you recommend.
We will stay right on electricity in the morning and try to finish it as soon as we can. I am hoping that it doesn't take all day so we can go to the other issues. But at this point, could we just, so as to protect you, agree that if you will move as follows tonight, we will set aside the current Bingaman amendment so that the second Bingaman amendment can be taken up. Then it will be set aside so we can take up first the Cantwell. She will use 1 hour tonight. We will answer, if we see fit. If not, we will debate it tomorrow. Nonetheless, we will come in tomorrow at 9 o'clock, and when we get on this bill, Senator Cantwell will be up and she will have an additional 2 hours on her amendment. I am merely adding as a matter of discussion that further amendments on this section of the bill will be in order at that time.
Is that fair enough?
Senators understand that means we are not going to vote tonight. But you certainly can look to a late night tomorrow night with votes.
I yield the floor and thank the distinguished Senator.
I say to my friend, Senator Bingaman, perhaps, with a little bit of time, we can work on it and see if there is some way we can avoid an amendment. If not, clearly, you understand yours, and we understand our reasoning why we do not need it; that it should not be an amendment; that it should not be raised to that level; that it is not needed in terms of the full amendment. But we will work on it.
Now, I understand the time has arrived when I would make a request because I don't think I did the other in the form of a unanimous consent request.
I ask unanimous consent that the second Bingaman amendment be set aside so that the distinguished Senator, Maria Cantwell, can offer her amendment, and that she would use up to 1 hour tonight and have up to 2 hours tomorrow on that same amendment.
I ask Senator Cantwell, that is correct, is it not, that you would like up to an hour tonight and up to 2 hours tomorrow on this amendment?
I just wanted to make it clear we are not trying to deny you anything. We just have to have some idea what comes next so other people can be ready. And if it looks as if we come in at 9, you would still have up to 2 hours for further discussion by you and others regarding that amendment.
The Senator is correct, except, might I say, I think it is fair, just for the Senate's sake, that we say on both of those up to 2 hours. And I do not intend to amend. But we don't have to wait here if she is finished.
I yield the floor.
Mr. President, I don't have any objection, but we have been talking for about an hour about that amendment and you, I say to the distinguished minority whip, have been saying the important thing is that she would have an hour tonight on her amendment. But we are not going to have her amendment. We thought it was going to be laid down so we would know what it is about.
Can we have the amendment? That is all we want.
Thank you.
I yield the floor.