Rep. Roscoe Bartlett Cosponsors ANWR Oil Production Bill WithFederal Revenues Dedicated to Alternative & Renewable Energy Program Funding
Washington,
May 21, 2008 -
U.S. Rep. Roscoe Bartlett (R-MD) announced today his cosponsorship of new legislation that would allow for oil and natural gas production in a small section of the Coastal Plain in the Arctic National Wildlife Refuge. Federal revenues from the ANWR leases would be used to fund a wide variety of alternative and renewable energy programs.“The American Energy Independence and Price Reduction Act” (H.R. 6107) was introduced this afternoon by U.S. Rep. Don Young (R-Alaska), the Ranking Member on the House Natural Resources Committee, and Rep. Bartlett.
“I have resisted and voted against previous bills to permit drilling in ANWR because I believe that these oil reserves are like money in the bank that is yielding huge interest rates,” Rep. Roscoe Bartlett said. “I don't think you ought to rush to the bank and pull it out and spend it."
Rep. Bartlett said, “I am joining as an original cosponsor of this new bill because it dedicates federal revenues from ANWR to increase federal investments in the research, development and production of cleaner domestic, alternative and renewable sources of energy, energy efficiency and conservation at zero cost to taxpayers. Oil and other fossil fuels are finite. We need to promote aggressive federal investments to transition to cleaner, domestic, renewable forms of energy."
“Of course, it is impossible to drill without some environmental impact,” noted Rep. Bartlett. However, I have been to ANWR. I am convinced that the environmental impact will be minimal.”
H.R. 6107 will:
• Allow for the environmentally responsible development of ANWR's 30-year, 1 million barrel/day supply.
• Bring online ANWR's additional supply of 1 million barrels per day – the equivalent of what Texas produces daily – in less than five years.
• Deliver more than $200 billion in corporate tax income and royalty revenue to the federal government.
• Bring in $3.5 billion in bonus bids alone.
• Create 250,000-750,000 well paid American jobs; and
• Create a Trust Fund to dedicate federal revenues from bonus bids, rents and royalty revenue to fund a comprehensive range of 18 renewable and alternative energy provisions authorized – but not fully funded – under current law (EPACT 2005 and EISA 2007).
